Bank of New Zealand.

Taihape Daily Times, 14 June 1919, Page 3

Bank of New Zealand.

ANNUAL MEETING OF PROPRIETORS. (Continued from Last Issue.) Now that PC-‘ace has been practically consummated. the world has to tl‘:l'ce the big‘ problems of reconstruction and li(uida._tion of indebtedness. The problems of tlle war have been In:m_\' and perpleriing‘; but the problems_ol’ Peace are more numerous and. bewildering. The world is confronted with :1 mcst. serious and unprecedented position. Most of the nations have been living and fighting upon their capital. Some have o.\:llaustcd their e«:lpi.tal. and have been living and fighting" upon credit. The capital lost has to be restored, and the indebtedness incurred ha-; to be paid ofl’. It is to be fe:l.rccl t.l:a.t the process of I'etrie\"ing the posit.ion.will be long and pnint‘ul._ War ‘has not only used up huge a,inounts of the world ’s wealth; war has also stricken the world’s man-power. The position. in this country, as in m:111_v others, is that with a teixrpormy loss of man-power, the prloduction of the “efl?ectiVes~” ‘has ‘to be increased in order that comfortable conditions may be assured for those who have been maimed by the war, for the dependents of the dead -anu disabled, and for the community in ,general. Further increase of production is also necessary to meet other heavy obligations of the war.

Unfortunately. just. when the country is faced with this vital need of an increase of production :a.nd 21. decrease of waste—waste of material and waste of power-——some ’ext.l'enlisi‘rs in the ranks of labour are exerting themselves to check production; they are reducing the )qua.ntity of goods. for general distribution; they are lessening the share per head of the population; that is, they are illcre.asing the cost of living, for it is essential to fix the mind on that cost in terms of goods for distribution I'e.l:hel' than in terms of money, the evervarying medium of exelm.nge. “Pl'odnce less and have more” is the cry of these thoughtless 'the~orists. Their doc-,~ trine is a complete. reductio ad absurdum. Their phrases and oatch—cl'ies ;:‘.l'(‘, borrowed from older eoulltries, where the eonditious are iinrheasurably less favourable for the workers than those in New Zealand.

Wll:a\tcvcr may be said -or wl'itM’ten

about UlO fo_nlpol'ary disadvantages caused by- more than four years‘ of wcrld-devastating war, it is undeniable that the standard of living has steadily improved in‘ New Zcaland during -the past quarter of a century. The facts arc plain for all to see. Any additional illlpl'oyelllellt mustvcome from constructive"thinking and the friendly co-operation of all classes in giving ei’r.'ect to "the constructive thinkers’ ra.tion.a.l proposals. Obstructive, intimidating tactics and “go sl-ow—ing” will simply antagonise the community, which has to suffer as a consequence thereof, and t’hrow into a more remote future the I‘nppl'ochClllent between capi~ tal and la’bour, which is so earnestly to be desired. V Experience has proved that the persons who, like the Russian Bolsheviks, wish to take a sllorf Cut to the millennium are usually unwilling to listen to rcason. They 11‘-ave a disposition to regard any friendly proposal from the other side as either a sign of weakness, or the beginning of surrender. ’lhe “short-cutters,” is appears, have declared thcniselves against. anything less than terms of their own dictation --—the domination by one class.

In New Zealand this. irreconcilable, ;,nreasionuhle element in labourthough feu:.pel'aily prominent—has not imp-cscd Lts i.vnpl.‘tuous recklbss will on. the great body of Labour. An appeal to I'en.<on can be made with workers who know that 2. steady maintenance and izic:-<:::.=c of production are necess:ll'_V To assure laboul"S welfzlre; men who know, too, that :21. Cast.-iron restriction of their individuality cannot make fov pel'sen:ll contentment. These men ave it in their power to assure for thnnselves an infinitely better future 'han the obStl'ucti\'o and destructive tactics of their mslx leaders could bl‘lllg'. I

For many yezn°.<, class sus'picion has constituted 21 powerful hindrance to the realisation of fiho right. mutuallyhelpful relations -between labour -and capital. It may be conceded without. any reserv:Ltion, that there. have been faults on both sides. A befter understanding, ll‘O\\'(‘VL‘l.'., cannot be I‘(?:E1Cl1()Ll b_-,3‘ a persistence in the suspicion and cold aloofliess \\'llic‘h has been at the root of so muelx misunderstanding in the past. There must, be, ill future. more consultation—:l more extensive and intensive discussion of views. Just as all classes have wCl'ked together to save the State from :1 foreign (Continued on page 6_)