EXCHANGE PROBLEM.

Press, Volume LXVIII, Issue 20491, 9 March 1932, Page 10

EXCHANGE PROBLEM.

reference in the house. [From Oun Parliamentary Reporter.] WELLINGTON, Marcli 8! The attitude of the non-farming section of the community toward the exchange problem was defined by Mr R. A. Wright (C., Wellington Suburbs) m the House of Representatives this evening, when he mentioned particularly the question of wheat duties. Mr Wright said Mr J. Bitchener (C., Waitaki), who seconded the Ad-diess-in-Reply, had stated that farmers ere suffering because of the pegged exchange, and that it should be allowed to run free, but he (Mr Wright) recalled a speech the member for Waitaki had made last session in connexion with the wheat duties. On that occasion the position waa the reverse and duties were put oh wheat and people in the cities and towns were assisting to pay the increased duties on wheat. In the case of the wheat growers the argument was that the farmers should get protection. "The member for Waitaki can't have it both ways," said Mr Wright. "He can't blow hot and cold like that. It seems to be a case of protection for the farmer when it helps him and free trade when it suits him. It is 'heads I win, tails you lose.' ?' Mr Bitchener: What about the business people? Mr Wright: Farmers are being misled. It is said if there were a free exchange he would get more for his cheese, butter, meat, and so forth, and yet it is admitted by all authorities that if the exchange were allowed to go free to-morrow, it would fall. Mr Bitchener: Why prevent us from getting "it then ? Mr Wright: To protect the farmers from themselves. I am in favour, of the exchange being free so long as it is not artificially raised by the banks or this Parliament.