THE OUTLOOK.

Taranaki Daily News, 16 August 1922, Page 4

THE OUTLOOK.

PROSPECTS VERY MUCH BETTER. STEADY INCREASE OF EXPORTS. Wellington, Last Night. A note of optimism was sounded by the Premier in concluding his Budget Statement in the House to-night. Mr. Massey said: “I think I can claim, and with reason, that the outlook for the present financial year is very much better than was the case at the corresponding date in 1921. It is true that since then there has been a serious drop in revenue, but there has also been a decrease in departmental expenditure. The withdrawal of part of the bonuses which were agreed to and provided for in 1920 and preceding years as against the increased cost of living has naturally caused a certain amount of dissatisfaction, but I am glad to be able to express the opinion that the great majority of those ’.n the public service realise that the burdens which the State is carrying at present are too heavy, and must be reduced if within & reasonable time we are to get back to normal prosperity. Economy and industry must be the watchword of the citifens of this country for a considerable time to come.

“So far as industry is concerned, there is little to find fault with. Undoubtedly the war and the aftermath of the war have had a very unsettling effect, but the manner in which most of the people of this country have gone back to work is beyond all praise, and this result is shown in the steadily-increasing volume of our exports. It should be the duty of all concerned to reduce the prices of commodities required in New Zealand, and to reduce the cost <»f production wherever possible, so as to enable us to compete successfully in the markets of other countries, and at the same time bring down the cost of living in th’.'" country. There is no royal road to prosperity, and there is only one way, and that is the way of industry and co-operation. In a crisis such as that through which we are passing, every citizen it ust be prepared to do his share of the work and carry his share of the burden. No other method will bring complete success. In a country like New Zealand, with its good soil, good climate, and industrious population, and the best markets in the world ready to receive its products, a financial depression, howev-r severe it may be, cannot last for long. With the steady application of those qualities which I believe New Zealanders possess ; n an unusual degree, the time must come, and soon, when the depression will pats away as mist disappear before the morning sun.”