INDIVIDUAL S DUTY

Waikato Times, Volume 127, Issue 21247, 18 October 1940, Page 6

INDIVIDUAL S DUTY

SHARE IN WAR EFFORT CONCLUSIONS OF COMMITTEE CHECK UPON INFLATION (Special to Times.) WELLINGTON, Thursday The duty upon the individual of contributing his full share to the war effort ;n New Zealand is stressed by the committee of the Economic Stability Conference in the conclusion to its report which was submitted to the full conference today. ‘The committee has carefully considered all the evidence and material placed at its disposal,” says the report. “To promote freedom of discussion the committee agreed that its proceedings and all evidence placed before it should be confidential, except, of course, statistics otherwise available in public records. “In making its recommendations the committee has kept in mind the effects of the war upon our economy. While men are continuously being absorbed in military service there is also need for increased production Budget expenditure has increased, and as always in war time, the financial policy tends to have an inflationary effect. There is an inevitable tendency for the cost of living to rise, and an equally inevitable tendency for real wages to lag behind. Effects or Inflation “These are circumstances common to all countries at war, leading to a state of instability, and the committee’s recommendations are designed to check these ill effects. “It should be stressed that no matter how the war is financed the country fights only with men and materials available. Here and now the whole community must bear the effects of the loss of goods and services either diverted to the purposes of war or no longer produced because the men are fighting and the materials are not here. The burden should be apportioned so that every citizen according to his capacity and means bears his just and proper share. “The recommendations of the committee are designed to achieve two main results. The first is to stabilise prices, wages and costs so that the cost of the war is not thrown unfairly on one group to the benefit of another. The second is to increase all kinds of production and the efficiency of every type of service which will help, however indirectly, the national drive. Co-operation Required “It is the individual working in co-operation with his fellow citizens who must achieve this result. No one is exempt. The war strength of the nation is the sum total of all these individual efforts, and not one ounce more. “The committee can only suggest the method and only the Government can provide the means. The main task thus falls on each individual in his personal job, whether war work or civil work, to fill each hour with better production and more efficient service.”

VALUABLE WORK PRAISE FOR COMMITTEE CONFERENCE PLEDGES HELP PUBLIC REALISATION (By Telegraph.—Press Association) WELLINGTON, Thursday The Economic Stabilisation Conference’s discussions were held in committee. The recommendations ol the special committee were taken clause by clause and agreed to. The report was adopted early this afternoon without modification with only one dissentient vote.

The Minister of Finance, the Hon. W. Nash, in moving a motion of thanks to the general working committee, said the members showed they were anxious to find a way in which they could help the Government and country through the present crisis. Mr J. Roberts said the whole of the people of New Zealand would be proud of the job the committee had done. The chairman of the Associated Banks, Mr P. R. M. Hanna, congratulated the committee on having produced an amazingly useful document, one which he thought would be hailed from one end of New Zealand to the other with enthusiasm. A motion that the conference record its appreciation of the work of the general committee and extend its thanks to the members for their concise, informative and reasonable report, was carried unanimously. Tribute To Chairman Mr T. O. Bishop, on behalf of members of the committee, thanked Mr A. T. Donnelly tor the services rendered by him as chairman over five weeks of the committee’s sittings. He paid a tribute to Mr Donnelly’s qualities as a chairman, and*on behalf of the committee presented Mr Donnelly with a fountain pen. Mr P. Butler moved: “That all present pledge themselves to do everything in their power to implement the report.” He was supported by Mr Bishop, who expressed the hope that the powerful organisations represented at the conference would do their part in endeavouring to carry the recommendations into effect. Mr McGibbon moved: "That the Government be requested to call together the members of the general working committee if at any time the Prime Minister considered it would be advantageous to do so.” this motion and the previous one were carried. Government’s Appreciation The Prime Minister, the Rt. Hon. F. Fraser, in concluding the proceedings. extended to the delegates on behalf of the Government deep appreciation of the honest, painstaking work that had been put into the report. -The report is most valuable,” said Mr Fraser, “and is the result of earnest thought and research. The people will realise it is not possible with reduced output for everybody to increase his consumption of goods and that every endeavour must be vnacie to obtain more efficient pro*

duction of goods if the standard oi living is to be maintained. "The Government will be very materially assisted by the deliberations and findings of the committee, and personally I wish to thank not only the delegates who are present, but also their organisations foi agreeing to their being represented at this conference. 1 wish also to thank the members of the committee for the splendid work they have done, because it meant weeks of hard work, deep thought and application."