ORDERS NOT ACCEPTED

Gisborne Herald, Volume LXVI, Issue 20088, 7 November 1939, Page 3

ORDERS NOT ACCEPTED

INSTALMENT PAYMENTS OBJECTIONS IN BRITAIN A marked reluctance and in some cases definite refusal to supply goods to New Zealand upon the instalmentpayment plan enforced by the Government's control of overseas remittances arc impressed in correspondence received by the last mail by a merchant engaged in arranging supplies of materials for one of the largest manufacturing industries in the Dominion. In a general survey of the position the London representative of the merchant says the manufatcurers “will accept export trade if they can get prompt cash. For most of the other buyers in London, this financial question does not arise, but, having no finance in London, we cannot pay on the nail.”

“For a firm trading on a small commission,” says another letter from a London house, "the extending of credit running into many months simply turns the business into a loss transaction. We have every desire io help you over your great difficulties, but we cannot afford to finance New Zealand. That country seems to have got itself into jam through an unsound financial policy, and one way out of it is at the expense of everybody who ( has supplied that country.”

The latter reference is not to future supplies, but t () goods shipped as long ago as last May, for which payment had not been remitted from New Zealand.