TRADE WITH BRITAIN

Wairarapa Times-Age, 14 January 1939, Page 6

TRADE WITH BRITAIN

DEFENCE OF NEW ZEALANp

AGAINST ATTACK

OBSERVATIONS BY LONDON

PAPERS

REPLY TO THE FEDERATION OF INDUSTRIES.

Bj’ Telegraph—Press Association—Copyright (Received This Day, 12.45 p.m.) LONDON, January 13.

Lengthily defending New Zealand against attacks by the- Federation of British Industries, a special article in the “New Statesman’’ points out that while the federation is planning to jeopardise New Zealand’s security, its Government is carefully planning the payment of interest on loans due in London. The federation’s campaign coincides with me City of London’s tactics in depreciating New Zealand stocks. Thus two groups of British capitalists are carrying out aggression against the Dominion in which they ironically are ruining each others chances. The article adds: “New Zealand al present would be .the last to desert the Empire, but if capitalism institutes shock tactics the Dominion might be the first to escape from capitalist dictatorship, because New Zealanders believe in themselves, in a high standard of living and in a future, even if it be through socialism." The ‘•Economist.’’ although blaming Labour’s prodigality for the situation, points out that other countries, after financial crises as a result of Labour policy, imposed import restrictions, with the support of British manufacturers. It adds that the regulations apparently infringe the letter, if not the spirit, of the Ottawa Agreement. Nevertheless New Zealand, considering her size, will remain a better field for British manufacturers than most of the Dominions.