Overseas Investment

Press, Volume CVI, Issue 31093, 23 June 1966, Page 12

Overseas Investment

Sir, —A news item yesterday stated: “Americans Buy 2000 Acres.” Other news has stated that they will have the right to repatriate all profits, not just their original capital outlay. This is better treatment than the faithful New Zealand producer receives. Why? Has a New Zealander exactly similar rights in the United States? If not, why not? Are we already annexed by the United States without benefit of adoption formalities which would give us some family rights. What will be the lot of the Maori when the Americans have all the say? We are developing roughly similar areas that are nearer to markets and other civilised amenities, and will no doubt successfully bring this country into production without any help from tbs'Americans.

We lead the world in aerial topdressing to make hill country progressively more productive.—Yours, etc., NEW ZEALAND FOR YOUNG NEW ZEALANDERS. June 22, 1966. Sir, —An American takeover of 62,000 acres of New Zealand could not only compromise New Zealand’s independence; it would deprive present and future generations of New Zealanders of valuable natural assets. Our national living depends on the products of the land, and we can ill afford to allow thousands of acres to be taken over by foreign landlords to make a profit for American investors. As a Canadian correspondent pointed out, once Americans gain a foothold in a profitable enterprise overseas, they extend their holdings until they eventually dominate both land and people. If the Maori owners are determined to sell, why not form a trust fund which would keep control of the land in the hands of New Zealanders?—Yours, etc., ERGO TUA RURA MANEBUNT. June 22, 1966.