BUY N.Z.-MADE GOODS—AND PROSPER

Sun (Auckland), Volume III, Issue 702, 29 June 1929, Page 7

BUY N.Z.-MADE GOODS—AND PROSPER

(Specially written for THE SUN by John F. Bailey.) Notwithstanding Sir George Elliot's presidential pronouncement to the shareholders ot the Bank of Mew Zealand as published in The Sun and other newspapers last week-end, in which he states that we are over-developed j industrially, I am more than ever \ convinced that there is only one really effective solution of the unemployment question which is exercising the minds of political and social leaders throughout the Dominion, aijd that is: More effective industrial development as a national undertaking. That is to say, the determination of the people to assist industrial development, even at a temporary sacrifice, by buying Mew Zealand-made goods in preference to imported whenever possible, so that a goodly proportion of the £45,000,000 which we are now spending abroad for goods may be retained in this country and distributed among us all. Only in this way can surplus labour, which is now a burden on us instead of an asset, be quickly absorbed into permanent industrial channels. Unemployment is purely an economic question and we must consider it from that point of view. If wo send our money away to countries which do not buy goods from us to any extent it means that we are paying away cash, or cash equivalents, which are lost to us. We cannot circulate it among ourselves. Every time a >.ew Zealander buys a foreigninado article which can bo made here ho is sending part of his wages out the country. Up is told that it comps back again to the farmers who export produce to the countries we buy from and so gets into free circulation again and again, but this is only partly true, A great proportion of that returned capital goes into a few hands and some of it sticks. This is exemplified in a striking manner by the millions which now lie idle, as far as we are concerned, in the banks. If the returning capital is considerably more than we send away, only then will sufficient money get into circulat on to keep us all fully employed aijd with money to spend freely on our requirements. It may be said that our trade balance has been on the right side for the past two years and that therefore money should be more plentiful. But it must not be forgotten that prior to that we had a very large unfavourable balance which had to be made up. Moreover, our favourable balances are not large enough in any case. There is such a thing as debt. Most of us know what that means. It is an inexorable burden. Interest has to be paid on that debt, and a large proportion of that interest is not provided for out of profits on our borrowings- It comes out of the Consolidated Fund. If our trade balances arc not sufficient to pay the interest on outnational debts we are getting deeper into debt. Goods are not always paid for with goods. Interest means cash. That is why we need a very big slice off that A'45,000,000! There is only one quick and effective way to relieve the situation and that is for everyone to make up his or her mind to buy Mew Zealand-made goods whenever possible. By so doing our factories will soon become hiv.es of industry and more and more hands will be required to cope with the demand. Many skilled workers are idle. They will quickly be absorbed. Less skilled but intelligent men, and womeji too. will have opportunities of showing their adaptability to fill positions under expert tutors. In turn, the activities of the factories will spread outside and every class of labour will gradually be required to fit into its appointed groove until all are happily emploved and earning money. In this way our favourable trade balances will increase, money will be plentiful, and shy capital will come out of its hiding places looking for profitable investment. Thus, new industries will spring up, more and more labour will be required for all purposes, and our population will increase in the only way which will give us the man-power, of which this country may some day be in dire need. M'ew Zealand-made goods are already available in tile shops in plenty and of a quality equal, in many cases fatsuperior, to any similar goods of foreign origin. We have only to make a daily habit of insisting on '-Mew Zealand-made" for most of our requirements and unemployment will quickly disappear without recourse to Palliatives in the shape of subsidised municipal stop-gaps which are almost invariably a woeful waste of public money. Sir George Elliot’s proposals to increase primary production and promote lurther employment by bringing idle lands into useful occupation arc worthy of praise, but they will take time to bring to maturity. In any case the two schemes dovetail naturally. Primary and secondary production must go hand in hand. One is no good without the other. An attempt to build a, nation on agriculture alone is foredoomed to failure. History tells us so. Let us, then, concentrate on that which is all ready and waiting to be taken in hand immediately by the people. It requires little effort on our part. We have only to say ‘ M'ew Zea-land-made, please,” when we huv anything, and if it is not available then it must be British. But many Mew Zealanders will be surprised at the variety and quality of the M'ew Zealand Article when they set out in earnest to seek locally-made goods. And the Price is invariably less. too. quality for quality. But even that should not weigh with us. For, after all, even if wo have to pay more in some cases, the dearer price is cheaper in the end, as I shall prove some other time. “XOW, LET US GET BUSY.”