ABSENTEE OWNERSHIP

Wairarapa Times-Age, 14 July 1938, Page 9

ABSENTEE OWNERSHIP

(To the Editor.) Sir, —I note that about £1,000,000 worth of orders for aeroplanes has been placed with American factories by the British Government. At least, these factories did belong to the Americans at one time. Who do they belong to now? The “World Economic Survey” tells us that up till the end of 1936 about 8,000 million dollars had been rushed over to America at the rate of about 3i million dollars a day. What is more probable than that it is these newly-acquired American factories that have got these huge orders? For it was for the purpose of mopping up the American factories (and probably other kinds of property, too) that these huge sums were sent. At least so the “Economic Survey” tells us. How delightful (if the Americans should want a few planes for themselves) to find that they cannot have them built till the foreign orders are filled. When the Americans, after the World War, decided to go in for shipping, they guarded against these ships becoming the property of foreign owners by getting the Government to build the ships and put them in charge of a Shipping Board, which again charters the ships to private owners. If they had done the same with their factories would they have to stand helpless to prevent their industries coming under foreign control and ownership? To buy up the factories and lands of New Zealand is a mere trifle compared to buying out America. So we may be sure we have only got to hold our hands in our laps and wait till it is done. Would it be too much to ask every candidate —immaterial to which party he pledges himself —to do all he lawfully can do, to prevent this country from becoming the prey of foreign and absentee owners? —Yours, etc., HANS C. THOMSEN. Solway, Masterton, June 12.