BUY DOMINION GOODS

Sun (Auckland), Volume III, Issue 908, 27 February 1930, Page 13

BUY DOMINION GOODS

NEW BUSINESS PRESIDENT MAKES APPEAL WILL .CREATE EMPLOYMENT ‘‘l should like to see each one of us take to heart his Excellency, Sir Charles Fergusson’s suggestion that wherever possible we should buy New Zealand made goods. The putting into practical operation of such an admonition, would do much to create additional employment within the Dominion,” This appeal was made to members of the Auckland Chamber of Commerce by their new imesident, Mr Malcolm Stewart, at the annual meeting today. “I feel, however, that it is in connection with farm produce that this country is capable of making the greatest development, and it is somewhat to be deplored that so few of our young people entering manhood in New Zealand are willing to take up farming as an occupation,” he continued. “To some extent, environment of boys at home and in the schools is at fault, but I feel that perhaps a good deal of the disinclination of young people to enter upon farming as a career is due to the eroakings of some of the farmers themselves. A more optimistic tone on their part, which the facts really justify, would do much to remedy matters. IMPORTING LUXURY Mr. Stewart expressed confidence that the country would win through its difficult times. It was true that there had been a drop in prices of produce, hut increased production had largely offset the fall. The net effect was that foi* the year ended December 31, 1929, exports from New Zealand had dropped only 1 per cent in aggregate value as compared with 1928. At the *!same time, however, there had been a not entirely healthy increase' of about 9 per cent, in the aggregate value of imports, this increase (which was mainly in luxury articles, such as motor-cars—the need for the Importation of which In such large quantites was problematical) being due very largely to the favourable balances in evidence some little time back, Mr. Stewart said. “The position, therefore, is that although New Zealand’s external trade within the past 12 months shows a substantial excess of exports over imports, that excess is less than the excess of twelve months ago,” he concluded. ‘There is nothing inherent in New Zealand’s present external trade position that would warrant a drastic raising of local bank rates or adjustment of the exchanges against New Z S ala ? d and the recent alterations attectmg these rates have undoubtedly been due to adverse conditions which have been developing for some time m Australia.”