AN UNPARALLELED CRISIS.

Hokitika Guardian, 7 September 1925, Page 4

AN UNPARALLELED CRISIS.

“The economic position of this lountry is without parallel in history. bill it i. not quite as perilous as ii ->• ‘ins. Tin' picture ol an enormous population croud,A together on a little island, unablu feed itself and depondeni for hate existence on the goodwill ol ils neighbours, is only superficially true. Mr Sidney Webb pointed out quite truly that even the competition bogey lin. its compensations. The rise of iimipcliii;; foreign industries i- by no means necessarily all le.s lo this country; it inii-t mean ultimately a rise in demand, too. the creation of new wants to be supplied which did not, exist lie fore. The test, then, is whether our ; crip!u have the wit to seize and the energy to prose- < ute the new clinuces which ntiiM offer themselves. It is abstractly possible.

Ho doubt, for a great trading community to he destroyed by its trade rivals, but il is very rare. The causes which havi in the past generally des. roved great industries have not been the malice of rivals but the conservatism u bit'll refuses to discard outward methods or the lack of enterprise wlii'li fail-, to see the new opportunity u lien it. arises and prefers to perish altogether rather than endure the pain of a new idea.” - “Daily News."