LABOUR PARTY

Wairarapa Times-Age, 16 April 1941, Page 8

LABOUR PARTY

ANNUAL CONFERENCE ADDRESS BY PRIME MINISTER. MR J. ROBERTS ELECTED PRESIDENT. (By Telegraph—Press Association.) WELLINGTON. This Day. At the annual conference of the New Zealand Labour Party, continued in the Town Hall, Wellington, yesterday, the Prime Minister, Mr Fraser, presented the Parliamentary Labour Party’s report, which was adopted with cheers and the singing of “For He’s a Jolly Good Fellow.” The paramount necessity for meeting war needs in men, materials and financial resources; the need for keeping the everyday economic life of the community functioning, and so carrying on the burden of war; the need, after meeting these demands which would inevitably involve sacrifices from all, for maintaining living standards above a reasonable minimum. These, said the Prime Minister. Mr Fraser, addressing the conference, were the bases of the Government's I policy today. It was obvious, even to opponents of Labour, that the successful prosecution of the war must necessitate the adoption by the Government of a comprehensive economic policy, specially in the light of present marketing difficulties. In New Zealand, as in every other country fighting for its existence, controls in one form or another had of necessity been introduced. New Zealand could claim one advantage—that some of those controls with their complicated procedures had already been put into practice and valuable experience had been gained in the pre-war period. POSITION OF STERLING FUNDS. As a result of the high export income, increased production, the control of imports, and the difficulties in obtaining goods from overseas, New Zealand’s London funds rose from £7,250,000 in January, 1939, to £26,500,000 in January, 1941, he continued. “The present and prospective demands upon these funds have not permitted any relaxation of import restrictions and in view of the heavy restrictions now placed on our exports our remaining sterling resources must be husbanded with the utmost care,” said Mr Fraser. “Even with further cuts in our imports, which are practically confined to essentials already, our export income is clearly likely to be so reduced as to affect the country’s .tradh and economic position in a serious manner.

It had been the aim of the Government from the outbreak of the war to supply Britain with increased quantities of food and raw materials. New Zealand’s efforts in this respect had been most satisfactory. Exports last year were valued at £73,700,000—the largest ever recorded, and an increase of £15.000,000 over the figure for the year 1939. Though higher prices accounted in some measure for the increase, the volume of exports also increased by 9 per cent during the last 12 months. PROSPECTS FOR THE YEAR. “The prospects for the present year are entirely different,” said Mi Fraser. “The key to our export position is shipping, and last month we were informed by the British Government that, as a result of increasing shipping losses and new demands made on diminished sea transport facilities, sufficient refrigerated space would not be available to lift all our produce. The 23 weeks taken by vessels on the United Kingdom—New Zealand trade has always compared unfavourably With shorter voyages to South America, and with 'the passing of the Lease and Lend Act Hie United States has made available to Britain sources of food supply which can be lifted on a round voyage of three weeks.”

“Further reduction in imports of consumer goods must be expected, and to the extent that these cannof. be replaced by local manufacturers we must do without,” said Mr Fraser. THE MONETARY PROBLEM. Referring to the monetary problem, Mr Fraser said: “It is commonly stated that there are three ways of raising the money necessary for the war • —by taxation, by borrowing and by credit expansion. It is a mistake, however, to think that all.three can be used with equal facility. “The Government is determined to avoid inflation as far as possible, and so far it has succeeded in avoiding this danger. The sky-rocketing of prices, an infallible symptom of the disease, is in no way apparent. The note issue and cheque transactions do not show any abnormal position but they require careful watching, and banking figures reflect the normal seasonal trends.

The conference passed a vote of thanks to Mr Fraser for his report, expressed confidence in the Government and pledged it whole-hearted support.

The election of- national officers was held, but at noon only one result had been announced: Mr James Roberts had been re-elected president. He was opposed by Dr McMillan, M.P., and Mr Richards, M.P. The result of the elections for vice-president and secretary will be announced today. The following divisional area representatives on the national executive were appointed:—North Aucklpnd, Mr Boswell, M.P.; Auckland, Mr T. P. McCready; Hawke’s Bay, Mr Coleman, M.P.; Waikato, Mr R. Coulter; Taranaki, Mr Rogers, M.L.C.: Wairarapa, Mr G. A. Hansen; Wellington. Mr Combs, M.P.; West Coast, Mr A. H. McKane; North Canterbury. Mr John Roberts; South Canterbury, Mr D. Barnes; Otago, Mr Neilson, M.P.; Southland, Mr W. K. Cameron.

Yesterday afternoon special committees considered remits. In the evening a social gathering in the form of a ' concert was held to farewell the Prime Minister, who is leavinrg soon for Britain. The conference will continue today.