THE LABOUR CAUSE.

Hauraki Plains Gazette, Volume XXXX, Issue 5441, 28 June 1929, Page 1

THE LABOUR CAUSE.

NG ATE A BRANCH. MONTHLY MEETING. Despite the very wet night, there was an attendance of eight members at the second monthly meeting of the Ngatea branch of the N.Z. Labour Party on Tuesday evening. Mr W. Phillips presided. One new member was enrolled. Advice was received from the national secretary congratulating the branch on its formation and offering assistance. The central executive of the Party also wrote congratulating the branch on its formation. Mr C. R. Petrie, official Labour candidate for Hauraki, wrote in similar strain and forwarded a quantity if literature for circulation among members. The secretary, Mr S. Tarver, mentioned that owing to the prevalence of influenza the members of the exceptive had not prepared a subject for discussion. A Press report on an interesting address given by a prominent economist, Mr F. B. Stevens, 8.C0m., under the auspices of the W.E.A. at Hamilton, on money problems, was read by Mr Tarver. It expressed the opinion that the practice followed by the banks when hn excess of exports was apparent gave rise to an excess of imports a short period afterwards. It suggested that if trade balances were carefully forecasted and the banks’ rates fixed accordingly, high interest rates at times of depression would be avoided.

The same subject from the opposite viewpoint was dealt with in a report of an address by Sir Geo. Elliot to the proprietors of the Bank of New Zealand.

The economist pointed out the root of the trouble, but the banker dealt with palliatives by State action, such as land settlement, tariff revision, taxation, immigration, etc. An interesting discussion ensued on this subject, and it spread to other topics, when it was agreed that the policy of the Ngatea branch should be in the direction of self-education of members. Several publications suggested by the Party organisation were mentioned as suitable for general reading by members, and, after this had been done, for discussion by members. The publication on “The Challenge of Waste” was chosen for next month.