Citizens Say—

Sun (Auckland), Volume 1, Issue 82, 28 June 1927, Page 8

Citizens Say —

ADVERTISING EXHIBITIONS Sir. — On page 13 of Monday’s SUN appears an advertisement of an Advertising Exhibition. But, Mr. Editor, where is the exhibition to be held? Monday morning’s contemporary was also as enlightening. ’AD AGAIN. [The exhibition is being held in the concert chamber of the Town Hall. — Ed., THE SUN.] THE “INDEX” Sir, — It is a theory of our jurisprudence that every man in this country is presumed to know *the law. If such a theory is to be acted upon right reason undoubtedly demands that he should be given the best opportunity of finding out what the law is. I suggest that the list of books which are suppressed by the New Zealand Government should be prominently exhibited in every public library. Then we shall not have people prosecuted, and confessing that it was at their trial that they realised for the first time there was any wrong in selling a publication that was (without their knowledge) upon the index. _ S.G. . SAYING IT WITH MUSIC! Sir,— I am sure scores of the readers of THE SUN will join me in congratulating you on the fearless and outspoken 'manner you began, and continue, to conduct your journal; and we hope you will meet with the success you deserve to obtain. When oppression needs redress We get it from the Liberal Press; It upholds what is just and right. Is always ready for a fight. On the other hand the Tory Press Lauds property, neglects distress; Is callous of the people’s fate, Sees wisdom when it is too late. DEMOCRAT. BUY WHERE IT PAYS BEST Sir. “Buy Where You Sell” brushes asile with lofty disdain the theory that international trade is based on a system of barter, which is rather rough on the economists. Unfortunately for him he discloses the fact that he does not understand the full meaning of the words “exports” and “imports” as used in political economy and lias, arparently, never heard of 'invisible” trade. When I wrote, “imports and exports, rightly calculated, do and must balance,” I was quoting an eminent English banker and economist. The words “rightly calculated” were inserted to indicate “invisible” items, and were intended to forestall just such foolish criticism as “8.W.Y.5.” supplies. No one, who has made a scudj f of the subject, would dream of asserting that the “visible” trade of nations balances, or is ever likely to do so As regards the United States, the American Department of Commerce has, for years past, published a statement showing not only that America’s total trade balances, but just how and -why. When the United States sends goods to the Dominion she puts into operation financial mechanism which opens a market for New Zealand exports somewhere. Your correspondent sidesteps my question regarding “A” and “B.” Whether there are such countries or not, inequalities such as I illustrated do exist, and trade between certain nations must of necessity be unequal. In the six years 1920-25

(To the Editor.)

Britain’s visible exports to China were £138,000,000 against visible imports from that country of £15,000,000. How would “8.W.Y.5.” apply his slogan in this case? Germany (Year Book, 1926), imported from New Zealand ten times as much as she sent the DoHow redress this balance? Take teli times as many toys? Again I ask, should England adjust her “unfavourable” balance with New Zealand by reducing her imports of Dominion produce? Bankers have evolved a very delicate mechanism designed to augment the advantages of foreign trade. It operates through the medium of triangular and multi-angular trade and enables a country to buy in the cheapest and best market regardless of whether it is possible for it to sell its goods in the selfsame market. Your correspondent -would throw sand in the bearings of this delicate mechanism and turn back the clock of international banking a century. America has a become a creditor nation. Within (say) 20 years she will receive in imports an amount of interest equal to the original loans. She is destined, -whether her protectionists like it or not, to develop a large “unfavourable” visible trade balance before long. Already her visible imports are fast overhauling her visible exports. In conclusion I would advise “8.W.Y.5.” to change his slogan for a sound one—- “ Buy in the cheapest and sell in the dearest market.” INTERNATIONAL TRADE. DEFENCE AND DISARMAMENT Sir, — The difficulty of securing appropriations Ibr defence purposes in America, and the corresponding popularity of any movement which will reduce taxation for defence, made President Coolidge’s proposal of an international naval disarmament conference a shrewd political move. The terms in which the proposal was made in so far as they anticipated the findings of the conference, were prejudicial thereto, and fully justified n^n-acceptance ty France and Italy. The acceptances by Britain and Japan were friendly gestures to America, although the qualified terms of these acceptances were necessary to its success, or hope thereof,. The evil consequences of both under and over-preparedness for defence must be borne by the nation which errs therein. The problem of what constitutes the happy medium is most complex, for the psychic aspect of defence (including all propaganda and means of the same), the economic aspect, the international aspect (ircluding the League of Nations and alliances for what they may be worth*, every aspect of vulnerability and all conceivable means of protecting from all possible dangers come within the purview. Avoidance of offence is our first line of defence. Disarmament will come automatically with the universal growth of good faith and goodwill: but if forced it will be unhealthy. If nations would only mind their own business and not regard as necessarily as a threat defence measures wherein no threat is necessarily intended or implied. the better for their peace of mind and body, too. AN GLO - AMERICAN. A VISITING COMET Sir,— The following particulars of the comet Pons-Winneeke, now visible as d_e> ; e comet ’ may be of interest to many of your readers. It was discovered by Pons in 1819. and at that tame found by Encke to have a period Of five and a-half years. It was no? however, seen again till it was re*S™. d Wlnnecke in ISSB. since of h S 11 has keen seen at most °\“ s returns, the last being in 1921, annrph? 6l ' 6 was a S ain some popular pprehension owing to a fairly close