Mr. NASH ON TRADE PHILOSOPHIES

Taranaki Central Press, Volume IV, Issue 335, 16 January 1937, Page 5

Mr. NASH ON TRADE PHILOSOPHIES

THE GREATEST GOOD FOR All RECIPROCITY WITH THE STERLING GROUP. > GOVERNMENT’S MAIN OBJECTIVE IS BETTERMENT OF STANDARD OF LIVING. SPEECH AT CHAMBER OF COMMERCE LUNCHEON (J’ress Association—Copyright.) Received I 1 a.m. LONDON, January 15. The New Zealand Minister of Finance and Marketing, Mr. Walter Nash, speaking at a luncheon given by the London Chamber of Commerce, said that the relationship between England and New Zealand has been an illustration of the advantages of a system closely approximating that of Free Trade which has enabled New Zealanders to enjoy the benefits of the large-scale industry of the United Kingdom. At the same time it has enabled Britishers to take advantage of cheaper food from New Zealand.

New Zealand offers British manufacturers, not only the lowest tariffs in the Empire, but also better trading facilities than any country in the world. “1 feel," said Mr. Nash, "that the Free Trade philsophy is theoretically the most perfect trade philosophy, but we need a more perfect world in order to carry it out.

“Free Trade between England and New Zealand would not be enough if the rest of the world was unwilling to adopt the same policy. New Zealand is producing more and more from farm lands, but the number of persons employed on the farms is not increasing. Consequently, if the policy of the past generation continues, and New Zealand confines its economy to agricultural and pastoral resources, there will not be work for the coming generation. In other words, the acceptance of a Free Trade policy by New Zealand would result in a surplus of young people

The New Zealand Government’s main objective is the betterment of the standard of living. Production has only indicentally served the needs of consumers. Some who should have been consumers have gone without.

This state need not continue. The New Zealand Government is endeavouring to guide Production has only incidentally highest ends of consumption.

"We are of the opinion that reciprocal trade agreements, which provide the method of expanding consumption and international trade, must be followed by any Government embarking upon a planned economy.

“The greatest difficulty regarding reciprocal agreements is that the agreement of other countries is required in order to make them effective. But they have a better

chance of success than has Free Trade. The basis of any recik procal system should be wider r than merely .within the Empire. It should include the whole of the sterling group, namely, France, Belgium, Russia, Holland, and the United States.

"There is nothing doctrinaire about New Zealand's policy. 1 believe that institutions may be moulded and altered, and that no economic system must remain immutable. I also recognise that we will require all our energy in order to build that type of economy which serves the ends of the greatest good for the greatest number."