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Hokitika Guardian, 28 September 1931, Page 4

Tnk handicap enoountered by some New Zealand'industries through overcapitalisation was stressed by the Minister of Industries and Commerce (Mr R. Masters) when opening a conference between the woollen mill owners and the Federation of Drapers, Clothiers, and Boot Retailers, which was convened by the Department of Industries and Commerce so that there might be a full discussion by the parties Coil-, defiled fig td the steps to bfe takeii to develop the Woollen Industry of the Dominion, ill* Masters said that as one big difficulty to be overcome was the over capitalisation of some of our in> dustries this must necessarily mean n higher charge to the purchaser of goods. He considered it would he in the best interests of the country if greater business efficiency were brought to bear in reducing the overhead expenses rather than looking for greater protection. The manner in which the stiniulatibn of industry would assist in reducing the number of unemployed was a most important factor and the Government hoped that every business man in the Dominion would give this aspect consideration. Great Britain, which was our greatest customer of primary products was also suffering as the result of the unemployment, problem, and the position in the Old Land was reflecting itself in the progress of New Zealand. The Government and his department was extreniely anxious to make every effort to encourage the manufacture of New Zealand goods. Unfortunately, however, tlie public had for some time been fr>o apathetic in the matter of jpurehafiug New Zealandmade goods. , Possible reasons for this might he insufficient advertising or lac-k of co-ordination between the manufactui'ers and the retailers. Tlie quality of New Zealand-made goods left nothing to be desired, and he felt confident that the sales of the loeallvmanufacturer article would increase if the public realised that its requirements could he met by the goods made in the Dominion.