THE LUNCHEON.

Hokitika Guardian, 6 October 1921, Page 3

THE LUNCHEON.

SPEECH BY MR MASSEY. (Our Parliamentary Correspondent.) WELLINGTON. Oct. -3. The luncheon tendered to Mr Massey by ministers was the most important event in the Parliamentary Buildings to-day Mr .Massey did not go deeply into the business of the Imperial Conference: but in the course of ball an hour’s speech, lie covered a lot ol ground in a very interesting way. “Don’t let anyone think for one moment that anything was done at the recent conference in Loudon to interfere with the nutiinoniy of the British l)o----imimis,” said Mr Massey. “There lias not been the very slightest iiitorfereiu e. Perhaps it will be said that the Dominions have been committed to some extent. We have done nothing of the sort. 1 know that money will lie required from the Dominions in future There are lots of mutters that involve expenditure of money even in peace time. All these questions of intcr-lm-prrial eiiiiimiinicatiims, iliter-Impcrial trade, immigration ami so forth require money. Even the League of Nations requires money when the?" is a

question of money, the people to (leal with expenditure even for Empire purposes "ill lie the representatives of the people in Parliaments of Dominions concerned.

Mr Massey mentioned the question of German reparations. If the arr.ingements that lrad been made, turned out as well as was expected, substantial benefits would be gained, lie was well aware that presently all sorts of seg•inns Would he made and all sells of piopaganda set on foot to secure a variation of the arrangement hut he was not going to forget the experiences of the war.” AJI the money in Gcrmaify would not pay for the life of the New Zealand soldiers, but lie imped that the arrangements made in good faith for payment of rc":iratinns would lie <arricd 0n,., and that the money due to New Zealand would l>o paid in due course, lie would give more information on that point in the House.

He wished that the outlook for New Zealand produce was hotter. He did not wish to exaggerate, and In* was ready to admit that the market conditions were not as good as he would like them to il:e. hut lie disagreed with those people who suggested that there w-is not going to In- any improvemeul. The peoples of tie- world i udil tint do without our wool. I’t sent prices wen- not satisfactory, lull lie did not believe that lliis state cf affairs "its going to last lung. 11,- would give his reasons when the time ,•:*nu*. lie e ,-s glad to s--e that dairy producers were i ontiiniing to obtain profitable prices. It "a- just, that the hardest working sett ion of the i-ommimitv should obtain good returns. Mr Massey mentioned ihe New />• • hind loan. He said tint the financial peoples in l.oiidoii had dull" everythin", possible to make things easy for him. 'll,, really had not had any more dilliculty in borrowing five inilioiis ill London than In- would have had in buying ten pounds of soger in New Zealand. The Committee- of t lie Stock Exchange met him at. a little luncheon and discussed arrangements with him. and when tin- time came to float the loan 11 it-v told him ami they went ahead, and presently he was told that the New Zenl-ind loan was porfortiv safe. He regretted at the tillle tint he had been so modest in his <L-iii.-n.L-s. New Zealand would have to go back to the

London money market. Imt In* did not want to *ro Lark yet. He helievtid that more money would la* available in London when tlit* proper time r- ine to ask for it.