AUCKLAND NOTES

Hokitika Guardian, 22 April 1933, Page 3

AUCKLAND NOTES

TOPICS AMD PERSONA Jj NEWS

Whether the ’flu epidemic .which liras, been raging in other parts of the world has found it,s way t 0 Neiv Zealand, or whether the receipt -.charlgeweather with »ts ’extremes) 'of temperature is re'pons.ibl2 is’, perhaps hard to decide. But an epidemic—fortunately mild—of either se.vsit}, colds or ’flu is visiting Auckland just now., Many factories ;and business places •have, their ►tuffs reduced jn >; consequence, while coughing, sneezing . and other signs of this distressing ailment are in evidence amongst the. passengers by tram, train, and ferry. . .. :;j : ** * * ' ‘ ' , The Labour Unionist Party is to take an active part in the forthcoming municipal elections.. It is reported ther e is to be a Labour Unionist candidate for the mayoralty and the “ticket” .its to be run in connection with the Harbour Board, Hospital Board, and City Council ' elections. Air 'H. Holland is apparently also to make : an extended tour through the North Island in connection with Labour Unionist political proiT'namin'. . j ** * * ; ' ' ' j Moss’ Joan Batten who is now making a solo fight from England to Australia ie 011 Auckland girl. She was born at Rotorua* and about 'eighteen months ago did a considerable amount of flying - at the iM'ar.g'ere aerodrome.

All West Ooaster s - will join in lieartilv -cciigratidatjag Mr E- H. Northcrott 1 who bos' inst "been appointed Judge-Advocate-'Geliei'al of tile Neiv. Zealand Mi]ifafy Forces. ''j, ' m-ic: n * -x- ■ -x- * • Sir/Aflirk 'Sheldon; of Sydney, ‘ passed through Auckland the’, other day. He said; “People I have met could r.ot understand, in face of New Zoa’and’sl large balance of exports ovc r imports why tire irrcchange rate should Jiave been pe-rae 1 up. Tt was taken • f° 1 ’ granted that it was the outcome of a strong political move, but it is in(erestinsr to know who is going to pay for this in th e end.” We’l it is pretty clear now that it going to be paid, for at this end. 'end not the othei-,. and the real matter of interest is to j find the fortunate individual in New Zealand—if - lie - or she exists—who is n ot paying t n make up the defV’iency. caused by' this' latest experiment - fin theoretical economics: ' ; \ • -x- * •' -. 1 The local Currency R'eform' ; 'it;eagpe.. states that “in the centre of the' niqst severe deflation-' oh record a r'se " in { prions will stimuhffe' industry and employment.’” Wlmt’-i prices?' Do' ' they'mean the prices the’ producer can get for- Lis commodities” or the prices he ha s to pay for materials used in pro-' ductior, ? - A' : 'maniifiiV-turei-' told me the other day {hat bVHilg'-fo sale's tax and exchange he had 'lo pay twenty p-'r cent moi'p' ndaV-fdr'hls? niateid 'l',--'hut i .iif' lie attempted to ' put that percentage mi to' hd finished 1 -p'mduot he . would I Have to : c , ose y d'owh''.' :; The fnrm £ f ‘knows • • nb\4 that' 'th e ; 'idea." he could '-get 1 ifiovo fo r :: his \v0611,-meat, dr butter, 'an i]lu6 : on : but thbiSp w ill"' b P J ' nfr’liTitelon'r it about the extra‘pr’de lie .will "hate to pay "fob everything '"fie- imports. ' ; ;

The Easter 'hoT-'days' or e now over. The we ther lias be,on changeable and someivhat boisterous, but the ‘hol’"da ( v traffic has been abnormally lidavv, ‘ and evidently notwithstanding the striiorencv many pcop'e are nt'.ll able w n fr«> poir'dg to coend. The races, and all sports mee t ing?, appear- ♦ Ui-e been veil” oat roni-sed. The shopkeepers report that th.e- moivr'- demand io for the cheaper ; “bargain;’'

’•'ties. It -is -a mystery to the uninitiated how some of. these oliqo.p li.nte cop bo .retailed at th° prices, asked, which appear to be ridiculously low, naiwi'thsta.nding - bur depreciated cum rency. . *-x- * * * - , ,

One reaeon fern these low prices i<= that a large number of firms are either ,I%e ing forced into liquidation', nr have to, p?.crjfi'«.e , fist®c»k to ■red.uce'gfjheii*drafts*-, JAo>?s • hard t 0 say iyhether the f- ovo rnqt'pnfc'.ior th, banks A ip l it lvD in ost iinnoouTeir : Y- 1 present. .• But>>(thni ("e-al re'son ielark nf confidence on the part of the investing public. .Investors prefer to keep -any mercy they have at cni’.l, levei! -if they •nn only ..get- three v*ey cent, for ft. Confidence'.-has. been lost in mortgages and ml’ny lines'.-'which v-r-ro considered -gilt-edvcd :soeu.ri.f:’e>s. This h<"s sbaken the'-' whole -.fbun-dation of -credit, nr-d while the political,*'-out-look is obscured, - end mad; bnadnrd schemes like the Douglas Credit .evstefir is oH-’ining -.adherents- it-" v is doubtful whotheir confidence can be oqain re- ■ -stored, and trade re-e s tablidled bn a. 1 (inn basis. Meanwhile businesses • are’ ’'ci-iq- ,s me shed .and individual’s ruined.' not ibecaus G ’they . have mot tangible wealth behind them, but be-m use 't Id's we" 1-th-—possibly in the form - of-'per-fectly good assets.—cannot just now 'be converted into currency.

**** . , • The only fleam of hope in an otherwise -depressing outlook is the. .reviv-si 1 of th e mining industry and the sum’’ cm.f f Ifimmits scheme, ft j,~, doubtful whether the Government is handling either of thes P most important problems in a manner to Inspire confidence. It is assorted that o ntskle -investors -ar, 0 fighting .shy of mining pro-, positions owing to present restrictions i n the mining JawK. The financing .of, tlie settlement under the Sm-pll Farms; ” i !•'. - >"U' l a”-r a 'so t-o be inadequate as the half mill 'on allow'd ml bns. apparently been already half u.s(‘d, in -cs-, t.ahli'hing seme 700 r,ettle?*-s. (al-.--.ap--”ro-;'mat r !v T 350 , r ach) m r'd’’ anof.hdlei (-in he put j:i a way of self supporting ere the fund is-, -eyG b As this is pre-bnb-’y the meet practicably and eecncrnicaj scheme of