DOMINION’S NEED

Hokitika Guardian, 24 September 1932, Page 7

DOMINION’S NEED

ECONOMY ALL ROUND. ONLY CURE FOR DEPRESSION. CHR, T BTOHURCH, Sept. 23. The need for economy from lop tf bottom if New Zealand hoped to emerge from the economic depression was stressed by Mr John Mac Gibbon, who has retired from the management of the Bank of New Zealand, speaking at a fathering in his honour yesterday afternoon. “The: present condition, of things if d. subject that is discussed every day, and I cannot see that it is going tc db much good to say much about it, ’’ ‘said M.r Mac Gibbon. “The price of New Zealand produce on the London market is tlie most important thing of all, but I must say that there is an awful lot of rubbish written and rjaid about the depression. Some of the letters in the papers are exasperating, as they are so glaringly wrong.” Mr Mac Gibbon added that the only thing that was going to put New Zealand right was e'onomy from top to bottom, and that had to begin among the rations at home. There mint be a policy to give and take between the nations, and that policy must p?nr.eh.te the whole from top to bottom before they could export improve ment. It was no use blaming the Government. They had all, been crying to it for asistance, and' they had brought about the present conditions themselves. They were constantly clamouring for assistance, and sometimes he longed for the independence of the early settlers. The position was not goi’ l " to rect'fv itself until they cut down their expenditure, a"cl made ends meet, iu«t like the ordinary business n+yn. The Government, local I bodies and everybody else had to cut J down expenditure. I