WHATIS FARMERS' POLICY?

Evening Post, Volume CXIV, Issue 125, 23 November 1932, Page 6

WHATIS FARMERS' POLICY?

(To the Editor.)

Sn,—Some time ago a self-appointed -hxchange Committee, supposed to be working in farmers' interests," set itself to , induce the Government to institute higher exchange; The banks opposed this, and the Exchange Committee faded away, letters requesting information remaining unanswered. Tlien the Ottawa Conference came to certain decisions which will mean reduced protective duties. It is now being freely stated that the banks are prepared to agree to a high exchange, provided that any central banking legislation put through accords with their wishes. An agrarian Parliamental bloc is said to be pressing for pegged high exchange. It is open to question whether this bloc is not formed to assist or excuse the Government in doing what it desires to do. . ;

High exchange may not only cancel reduced duties later on, but, with selection of the duties, choosing those that are not protective, may quite easily result in great increases of costs. All the possibilities and ramifications of high exchange with tariff manipulations cannot be dealt with in this letter. The scheme is insidious. What matters is that it will fail as other stunts have failed, and as the same combination has failed most dismally in Australia, to relieve unemployment and facilitate production for export. . The public will, in the long run, judge by results, and a long course of being fooled may have dangerous effects on the public's temper. ; In' conclusion, may I ask why, if a pegged exchange is so desirable for'farming; the Farmers' Union has hitherto resolutely refused to adopt it as a policy? Farming opinion has been misrepresented. No doubt propaganda will in time-have its intended effect, - but the ,fact is that up to' the present farming' opinion on the subject, expressed by resolutions, has favoured a free exchange.-7-I am, etc., A. E;'ROBINSON. . Auckland Provincial Secretary, New Zealand Farmers' Union.- • .-■".'■