NEW YEAR MESSAGE

Hokitika Guardian, 31 December 1931, Page 2

NEW YEAR MESSAGE

OF PRIME MINISTER. OUTLOOK FOR 1932. (By Telegraph—Per Press Association) I WELLINGTON, December 30. The following jg the New Year message of the Prime Minister : On the threshold of a New Year the time is not inopportune to take stock of our position in order that we may profit by past experiences, and, at the same dime, gain .encouragement in meeting and overcoming our future trials and difficulties. The year just closing has been a trying and anxious one. It opened with the. promise of better times. Prices appeared to have at length reached rockffiottoin, and it was confidently anticipated that the depression was lifting. Unfortunately, those hopes have not been realised. Our .exports, while attaining their previous volume, have shown a further 9ei’iou9 fall in value. For the eleven months ending on 30th. November last, the declared value of our exports amounted *t<J £32,000,000, compared With £12,000j000 for the same period last year.—a reduction Of not leHs thail 25 per cfelit. This decline in the national income has, of necessity., permeated the whole social fabric, and both individuaby and collectively we have been compelled to do without many things -that we were able <to afford in more prosperous times. The past year has been one of severe trial, particularly for the primary industries, and the low values ruling for our main exportable products have caused serious difficulties for farmers. It is a source of gratification to realise that financial institutions and mortgagees have generally done their best to assist the primary producer to carry on. In a country such as New Zealand, so (largely dependent upon the products from the land, it is naturally essential to continue to strive for an increased output, always improving in quality, to offset in some measure, the reduction in the commodity prices. The gap cannot be completely bridged in this way, but. the advantages of increased production will only be fiii’ly realised when more normal times return. It is satisfactory to note that the volume output from our two great industries —sheep and dairy farming—has further advanced during the past year, and ithe quantity of fruit exported has also increased. Butter fat production for 'the season ending July last increased by 2.5 per cent, over the previous season, and for the first four months of the present season, an advance <Jf 3.85 per eCnt.. has been registered, whild the export trade ih lamb has shown a itiatked increase. The prices foi* 1, which have hitherto been 'the mainstay of the sheep industry, have been move adversely affected by world conditions .than any other commodity, and thus sheep farmers, as a class, have felt the depression probabl'y more keenly than any other section of producers. Unemployment, which is still one of the greatest, problems facing the nations at (the present time, has been a matter of special concern to the Government, and every effort has been made, and will continue to be made, to absorb in occupation those who are unfortunately out of work. In this connection, the co-operation of every section of the community is necessary, and this in it he past has been willingly givbn. It 'is, therefore, with confidence we appeal for a continuance of this community effort. ~

On the facts '[at 'present available, it is probable that continued sacrifices wiil be called for. The position, however, is not without its compensations. For the eleven months ending last November, our exports exceeded our imports by no less than £9,000,000. Thus New Zealand’s overseas trade continues to preserve a favourable balance.

A serious position developed in connection with the provision of funds to meet overseas commitments, * but, as has been recently announced, ithe Government has taken preliminary steps to meet the difficulty by arranging, with the co-operation of the banks, for the pooling of exchanges. Important world conferences are set down *to be held early in the New Year to discuss problems of a farreaching nature, including disarmament and war debts reparations tariffs. A satisfactory solution of these problems is of great moment at the present .time. In addition, it is hoped that mutually advantageous arrangements will he effected as a result of the Empire .Economic Conference to be held at Ottawa during the coming year. ' A potent factor for us :n world affairs is the stability of the British Empire, and recent events have indicated that the British race, as in -the pist, faces a veal crisis with determination and solidarity. In these times, parbiculary, a great degree of cooperation effort is required, and it is hoped that this spirit will prevail dining 1932. When many of the present obstacles to a real revival of world trade and commerce are removed, we can look forward to an era of better times in which the ■, Dominion will share. I feel that we can face the New Year with confidence, fortified with a resolute resolution to shoulder whatever burdens the future may hold in store for us. I extend cordial greeting to my. fellow citizens on the beginning of the New Year, and sincerely hope that the present clouds of depression will lift materially during 1932.