BRITISH COMMENT
ON N.Z.'S POSITION
(United Press Association—-By Electric Telegraph.—Copyright.)
(Received this day at 9.25 n.m)
LONDON, April 8,
The "l imes'’ says that the Now Zealand Government has resolved to shrink from no sacrifice to balance the Budget. It is jier.ectlv true as Mr f). Stewart savs, that New Zealand can only meet
London obligations as [trices now are |,v severely mslricting purchases ok British goods. The catastrophic fall lias doubled, or more than doubled the real burden of the external debt for all primary producing countries, which is a disaster, not only to them, but to M„» industrial countries supplying their markets. There is a faint hope that some remedy will lie toned at Lausanne. Iml the gold price level cannot 1„. raised. At the Ottawa Conference, they should seek a means ol raising sterling price level tor the benefit ol !he Empire ami many other countries (lading on a sterling basis. Tlics desirability of raising prices is commonly admitted. The lead problem is how to bring it about. Experience lias shown Hint cheap money alone can achieve I lie object
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Hokitika Guardian, 9 April 1932, Page 5
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183BRITISH COMMENT Hokitika Guardian, 9 April 1932, Page 5
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