The Guardian And Evening Star, with which is incorporated the West Coast Times THURSDAY, JULY 21, 1932. WHAT OF THE TIMES?

Hokitika Guardian, 21 July 1932, Page 4

The Guardian And Evening Star, with which is incorporated the West Coast Times THURSDAY, JULY 21, 1932. WHAT OF THE TIMES?

The times are difficult, but those in authority are doing their best to pull the. country through.' l Naturally the ipeo'p.o. are impatient >at the delay at ' reaching the haven of better t.mes, hut world conditions are such that .not .'any country, can 'be said to 'be prospering. The situation calls ' for patience ajjd hopefulness. New Zealand 'is iiot:. in - the happiest position financially., Actually., the. national situation! is. worse than most people , are prepared to beliuve,..and the Government has a -most difficult task ahead

■pf., it.; If ;• that Were 'realised; those 'oomplainng: would he prepared to give ilipre credit, when credit is dfie for the ; vS'fkt to/save the, financial reputation of' the Dominion. Those who rush -into' /the highways with' the cry that 1 the • /Government must ’resign are only scarfemongers who hayeddst their vision afid.’ have .assimilated false ideas ,of the /world- situation'. / The Government by /its economies and s tender feelings for. the man oil' the. land, has in a measure helped to make‘ things , more’ di&cuit.,' Capital, it/ is evident has 1 eeome alarmed of furthei'' confiscatory legislation, and is placed in bank's .the' liaven of comparative seourity at /the time. It is true; this' money is usable by the banks under restricted

: cottditloiW“*that is in Assisting •and intercourse where security is undoubted, hut all advance? now • are .written down to an amount considered safe on the, actual security, 1 The regular flow of money being thus restricted, is not helping matters, but at least the money invested is in safe investments, and the capital is not ' lost It would be interesting, and instructive if at the ino,'ment the loss in capital over., the last three year’s could be revealed.

That loss has resulted from the fall

in Hand values, shares, properties, and other investments on' which in the better times high values ranged. Because of those recurring losses, it is perhaps not surprising investments are flow on a lower scale of value, with an additional margin for security. ,Tli© investor of recent years would lose heavily now were all his securities

to be realised, and in this fact is

found further explanation of the more difficult times to-day. And wnat is

the remedy ? .Better puces for the national exports. It is there that the national' wealth is created. There are

hopes that the outcome of Ottawa

will mean more and # better trade. To that end mere and more produce will be necessary. It is fortunate that with the fall in .prices the Dominion has been able to increase its -exports. Thereby the net fall has been eased, but it was not sufficient in itself to create a cure. Notwithstanding the stringency of to-day there is the feeling that better times will soon be in sight. Prices ( in England, our best market, have been rising a little of late—even wool lias, had a fractional rise. If Ottawa will lever up prices a little more, the stage will be set for some measure of recovery. Meantime as loyal and abiding citizens the work of production nnd development within the country should be maintained, and in that way every assist-

ance given to the Government in the effort to puli New Zealand through a most difficult time. AH must be in the collar, and no one ready to cut the traces.