SPEECH FROM THE THRONE

Waikato Times, Volume 128, Issue 21369, 13 March 1941, Page 6

SPEECH FROM THE THRONE

In his Speech from the Throne at the opening of Parliament yesterday the Governor-General, Sir Cyril Newall, naturally dealt mostly with the grim business of war and the measures taken by New Zealand to fulfil its pledge to uphold the interests of the Empire and of democratic civilisation. Reviewing the past year, Sir Cyril was able to point to the rapid growth of the war effort over a wide field, and looking forward, was impelled to issue the warning that greater sacrifices must be accepted and greater efforts made to meet the increasing demands of the war.

The speech contained the warning that in the coming year New economic position might be more seriously affected by the Empire shipping position and Britain’s import and export policy. In the past twelve months the Dominion’s export trade has been extraordinarily satisfactory. Because of good prices and a favourable production season exports reached the record value of over £73,000,000, which had the effect of improving the national income, making the task of collecting taxes comparatively simple and providing a substantial improvement in the overseas exchange pool. At the same time imports were curtailed even further in value, and because prices have risen heavily the quantity of goods imported was very much lower. Thus, judged by the national accounts, New Zealand had little difficulty in paying its way and maintaining a high standard of living all through the year, although some people, particularly those dependent on the importing business, suffered serious difficulties. Most of this apparent prosperity was due to the fact that the British Navy had kept the seaways open, enabling the Dominion to market goods to the value of £73,000,000. But it would be foolish to expect such favourable conditions to continue indefinitely. Already a severe curtailment in exports of meat has conveyed the warning that the war may more seriously interfere with the national income. Prudence suggests that preparations should be made to meet the effects of a less favourable export season next year.