CHANGE OF RULE

Sun (Auckland), Volume III, Issue 739, 12 August 1929, Page 9

CHANGE OF RULE

IMMODERATE BORROWING OF UNITED PARTY CAPTAIN COLBECK’S OPINION “You’ve tried a change of management. You’ve sacked Mr. Gordon Coates, who said his policy was one of moderate borrowing. You now have Sir Joseph Ward who has a policy of immoderate borrowing.” So said Captain F. Colbeck during the course of an address at the Rotary Club luncheon today on “Some of the Farmers’ Problems.” Mr. Stan Reid was in the chair. “There is little doubt that the reason why people won’t go on the land is because the rewards are not good enough,” said Captain Colbeck. “A survey of the reasons shows that there is an unlimited market for our goods, the prices offered are excellent and as far as we can see the business is well managed. “The actual cause of the trouble is that the cost of production is so high that it leaves little or no margin. It is no use crying out about reducing labour costs because the trouble does not lie there. The average farmer has his wife and family working for him without pay. so he cannot reduce his labour costs.” The Dominion could be likened to a huge department store, said the speaker, and some departments were paying while others were not. It simply meant that thhe non-paying departments to be subsidised and the money to do so had to be made up by those that were paying. “Secondary industries are asking for further duties to protect themselves and this means that primary industries suffer.” There was no doubt, contined Captain Colbeck, that protective tariffs were mitigating against the interests of the primary producer and making farming less attractive. A revision of the tariff system would improve the farmer’s lot. At the conclusion of the address the speaker was accorded a vote of thanks.