ECONOMIC PROBLEM

Rotorua Morning Post, Volume 1, Issue 52, 23 October 1931, Page 3

ECONOMIC PROBLEM

(Press Assn.

GOLD AND GOODS LORD BLEDISLOE'S TRIBUTE TO BUSINESS MEN'S INTEGRITY OUT ST ANDIN G LESSON

— By Telegraph — Copyright.)

WELLINGTON, Thursday. "The one outstanding lesson which the much harassed world is learning from its present economie tribulations is that any national policy of finance or commerce which accumulates either gold or commodities, or both, instead of promoting their free circulation or consumption, is ultimately damaging to those who practice it," deelared the Governor-General, in opening the conference of the Associated Chambers of Commerce this morning. Although the economic existnce of this Dominion, like that of any other country with a relatively small population, depends upon the well-being of its primary producers," continued His Excelleney, "Their fate, and theref ore that of the country, is based to a very material degree upon the efficiency, integrity and patriotism of those engaged in its commerce as well as its financial operations, and it should,, therefore, be — and throughout the British Empire is recognised as being — the very special function of Chambers of Commerce to promote and safeguard these probilities, both in the public interest and for the credit of the whole commercial community. His Excellency's Confidence. * Lord Beldisloe said that after reading the able report of the executive, as well as the various remits to be submitted, he felt confident not only that the organisation 'was guided by men of integrity, prudence and vision, but that it would make no attempt to subordinate the public weal to personal or sectional advantage. These eonsiderations fully justified his presence, and evoked his earnest hope that during this period of excepional economic stress the spirit of wisdom and far-sighted patriotism, which obviously inspired the Associated Chambers might irradiate the proceedings of the conference for their own and the country's good. It was this spirit which had in recent years characterised the Federal Chambers of the British Empire, whose 13th congress he was delighted to see would assemble in the Dominion two years hence.