PROSPERITY AHEAD

Sun (Auckland), Volume I, Issue 250, 12 January 1928, Page 13

PROSPERITY AHEAD

PRIME MINISTER’S OPTIMISM INCREASE IN PRIMARY PRODUCTS (SUN'S Special Reporter.) WHANGAREI, To-day. “The clouds are definitely passing away and the outlook is much brighter to-day than it was 12 months ago. I am not speaking optimistically for the sake of optimism—this can be shown by facts.” The Prime Minister, the Right Hon. J. G. Coates, was in an optimistic mood yesterday afternoon at the jubilee celebrations of the Whangarei County. He quoted figures to show that New Zealand’s trade balance was better, and that her wool, butter and meat industries were in a good position, and that the Dominion was on the high road to prosperity. New Zealand had gone through a difficult period, he said, and during times of stress the happy hunting ground of political opponents was to blame the Government for everything which had gone wrong. The causes were wider than Government—they were world-wide, especially in a country such as New Zealand, which depended on the markets of the world for her prosperity. Mr. Coates referred to the enormous sum of money which had been expended during the war, and went on to speak of the marvellous recovery England had made since then. England had reconstructed, reorganised and redesigned her whole system and had met all her creditors. She had met her responsibility for | every penny piece, and was now pour* i ing her manufactured wares out. to j the whole world. At different periods j during the reconstruction there had been checks, such as strikes, which had had a disastrous effect on the purchasing power of Great Britain. The trouble had been one over which the Government had no control and for which it was not responsible. EXPORTS INCREASING “The economic position of New Zealand to-day is better than it has been for 12 months past,” said Mr. Coates. ■ “In June, 1926, our exports were ; £46,300,000 and in 1927 £45,390,000. For the same period our imports in 1926 were £52,000,000, and in 1927 ! they had dropped to £47,000,000.” He ’ also stated that for the period ended last November there had been an ex

cess of exports over imports of £2,260,000. The banking figures also showed that the gaps were closing. The increase of exports over imports was an indication of the energy of the people. Scientific efforts were being made to still further increase the production of butter-fat, which must bring prosperity to the Dominion. This year’s wheat crop had been a record, and the returns from small holdings, including fowls, eggs and vegetables, had been better than ever before. There had been an amazing development in the pig industry* For the first time the Dairy, Butter and Honey Control Boards were working in amicable co-operation with the High Commissioner’s Office, and in this way j they were getting to the consumers in England. It had been found that there was a great demand for New Zealand pork in England, and the Government proposed to assist the producers to forge ahead in the industry, in the hope that in a few years it would be greatly increased in size.