THE MARKET OUTLOOK

Dominion, Volume 14, Issue 132, 28 February 1921, Page 6

THE MARKET OUTLOOK

AN INTERESTING REVIEW BY MR. A. D. McLEOD, M.P. "I am afraid, that I have been regardfed as something in the nature of an ahwmist or a pessimist,” said Mr. A. D. M'Leod, M.P., at a meeting of the Martlnborough branch of the Farmers’ Union on Friday, says the “Wairarapa Age.” "Nothing is further from my mind,” he continued, “but I -realise that the .words of a public man have to bo very carefully weighed before they appear in the Press of the Dominion. I desire to put the position as a farmer, one of the producers of this country. New Zea. land is one of the best little countries in the whole of the British Empire, and it was not my intention tp be pessimistic as regards her future. New Zealand, 1 npke bold to say, is going to stand the critical period ahead better than any other portion of the Empire.” The outlook regarding both meat and wool was he added, far from satisfactory, but that position had to be faced, and there wfis no getting away from it. Dairying, which had. of late years made wonderful strides, was going to help the country out of a good deal of her difficulties, but in the past New Zealand had to depend in the main on her wool and frozen mutton, and he predicted that in the future she would have to do so again. To-day the farmers were getting from 35 to 45 per cent, less for their wool than under the commandeer. It would be lucky if they struggled through with what he termed the somewhat high estimate of 7Jd. per lb. Mr. M'Leod 'brieily commented upon the suggested market with America, which he said had proved a very weak reed to lean. upon. The beef market was also ,in a very unfortunate position, ■ The speaker turned to the present waterside dispute, which, he said, looked 6omewhfs.t nerious. “The watersides are cutting out overtime, which in many cases is necessary, and which has been associated with the trade for many years past,” continued Mr. M'Leod. “The question arises: who in going tn get the biggest profit? They arc| forgetting that great third party, the producers of this country. Ido not think, however, that, we are going to sen a strike. I believe that better counsels will prevail, and that good advice will carry the' day. If the extremists do prevail, wo farmers must put our shoulders to the wheel and see it through. The Labour extremists of New Zealand must not rule this coun*ry-” „ • With reference to the matter of in. creased freights, 'he stalled that Mi. Massey was doing his level best to have the injustice removed. He did not think that a deputation at the present juncture would be of much use. Mio Massey could not do more than he was doing, and if he were not successful the farmers of the Dominion should make strong representation not only to the Government but to tlho Imperial authorities. In that event the farmers would have tie consider the question of owning their own ships. A determined effort would bo made this year by certain political influences to reduce the Customs duties, whicn bad produced some eight or nine millions in revenue this year. He did not know of any country in the world,. excepting England, which paid less in that respect than New Zealand. He hoped that the farming community would raise ife voice in riron# protest ■ against any reduction. The labourer had just as '■ much right to pav a just portion of taxation as the producer. The farmers had arrived at a time when thev must be very careful indeed. They must also ' be prepared to face much lower prices. They would be fortunate if the slump did not last too long. The producers must close up their ranks and be true to themselves. “We must bo true to ourselves and true to our country," ho concluded, "and do our fair share to help to overcome the difficulties ahead. So long as wo are true, I have no fear for the future.”