TRADERS’ ALARM

Gisborne Herald, Volume LXVI, Issue 20079, 27 October 1939, Page 4

TRADERS’ ALARM

SEVERE IMPORT CUTS UNEMPLOYMENT FEARED SHORTAGE OF STOCKS INCREASE IN COSTS (IVr Press Association.) AUCKLAND, this day.. Grave concern at the severity of the cuts imposed by the latest import restrictions was expressed at a meeting of the Auckland drapers, mercers and shoe retailers. It was stated that many lines were excluded altogether, while the percentage allowed on others was so small that they were not worth considering. Instances cited showed that importers would receive about oneeighth of the requirements needed for a normal season’s trading. When present stocks are depleted, it is expected that prospects for replenishment for next season arc very poor.

It. was stated that retailers in the Auckland association alone gave employment to some thousands of assistants and, if the present conditions prevailed much longer, unemployment was bound to follow solely through the inability of the traders to obtain stocks. The late issue of the new schedule would mean much higher prices in future, because all overseas prices had increased, and the local importer was denied the opportunity of operating before the rise in prices began. .

Matters were further complicated by the sterling exchange position, because the overseas supplier was not likely to look for deferred payment when he could sell his goods for cash to other customers.

The opinion of the meeting was that increased taxation and rising costs on all sides and less merchandise to sell had created a serious problem. Unless a solution was quickly found, much hardship to the community would be caused.