TRYING AND ANXIOUS

Rotorua Morning Post, Volume 1, Issue 110, 31 December 1931, Page 5

TRYING AND ANXIOUS

(Press. Assn,

1931 reviewed prime minister's new year message to dominion CONFIDENCE AND RESOLUTION

. — By Telegraph — Copyright).

WELLINGTON, Wednes. The Prime Minister, the Rt. Hon. G. W. Forbes, has issued the following New Year message to the people of the Dominion: "On the threshold of a new year the time is not inopportune to take stoek of our position in order that we may profit- by past experiences and at the same time gain encouragement in meeting and overcoming our future trials^nd difficulties. "The year just closing has been a trying and anxious oue. It opened with the promise of hetter times. Prices appeared to have at length reached rock-bottom and it was confidently anticipated that the depression was lifting. Unfortunately, those hopes have not been realisedv Our exports, while attaining their previoUs volume, have shown a further serious fall in value. For the eleven months ending on November 30 last, the declared value of our exports amounted to £32,000,000 compared with £42,000,000 for the same period last year, a reduction of not less than 25 per cent. This decline in the national income has of necessity permeated the whole ^ocial fabric and both individually and collectively we have been compelled to do without many things. that we were able to afford in more prosperous times. Year of Trial "The past year has been one of severe trial, particularly for the primary industries and the low values ruling for our main exportable products have caused serious difficulties for farmers. It is a source of gratification to realise that financial institutions and mortgagees have generally done their hest to assist the primary producer to carry on. "In a country such as New Zealand, so largely dependent upon the products from the land, it is naturally essential to continue to strive for an increased output always improving in quality to offset, in some measure, the reduction in *commodity prices. The gap cannot be completely hridged in this way, and the advantages of increased production will only he fully realised when more normal times return, hut it is satisfactory to note that the volume output from our two great industries — sheep and dairy farming —has furher advanced during the past year and the quantity of fruit exported has also increased. Butterfat production for the season ended July last increased by 2.5 per cent. over the previous season and for the first four months of the present season an advance of 3.85 per cent has been registered, while the export trade in lambs has shown a marked increase. "The prices for wool, which have hitherto been the mainstay of the sheep industry, have been more adversely affected by world conditions than any othr commodity and thus sheepfarmers as a class have felt the depression probably more keenly than any other section of producers. Unemployment "Unemployment, which is still one of the greatest problems facing the nations at the present time, has been a matter of special concern to the Government and every effort has been made, and will continue to be made, to absorh in occupation those who are unfortunately out of worlc. In this connection the co-operation of every section of the community is necessary and this in the past has been willingly given. It is therefore with confidence that we appeal for a continuance of this community effort. "On the facts at present available it is probable that continued sacrifices will he called for. The position, however, is not without its compensations.. For the eleven months ended last November our exports exceeded our imports by no less than £9,000,000. Thus, New Zealand's overseas trade continues to preserve a favourahle halance.

Oversea. Commitments "A serious position developed in connection with the provision of funds to meet overseas commitments, but as has been recently announced, the Government has taken preliminary steps to meet the difficulty by arranging, with the co-operation of the banks, for the pooling of exchanges. "Important world conferences are set down to he held early in the new year to discuss problems of a farreaching nature, including disarmament and war debts, reparations, tariffs, etc. A satisfactory solution of these problems is of great moment at the present time. In addition, it is hoped that mutually advantageous arrangements will he effeeted as a result of the Empire Economic Conference to he held at Ottawa during the coming year.

"A potent factor for us in world affairs is the stahility of the British Empire and recent events have indicated that the British raee, as in the past, faces a real crisis with determination and solidarity. In these times particularly, a great degree of co-operative effort is required and it is hoped that this spirit will prevail during 1932.. When many of the recent obstacles to a real revival of world trade and commerce are removed we can look forward to an era of hetter times in which the Dominion will share.

"I feel that we can face the new year with confidence fortified with a firm resolution to shoulder whatever burdens the future may hold in store for us. Q "I extend cordial greetings to my fellow citizens on the beginning of that new year and sineerely hope that the present clouds of depression will lift materially during 1932."