NEW ZEALAND & BRITAIN

Wairarapa Times-Age, 13 March 1939, Page 2

NEW ZEALAND & BRITAIN

THE CONTROL OF IMPORTS CONTROVERSY. AN AMERICAN VIEW. “Some false alarms have been raised among a section of British industrialists by New Zealand’s decision to subject British imports to new licensing restrictions,” the “Christian Science Monitor” wrote recently in an editorial. “Mr Moir Mackenzie, Empire Director of the Federation of British Industries', has made some highly critical remarks about the import contrbl plans of Mr Michael Joseph Savage, Prime Minister of New Zealand. He complains that they are contrary to the spirit of the Ottawa Agreements. The President of the Federation has also written a letter to the Board of Trade objecting to the threatened high protection of New Zealand’s secondary industries at the expense of Britain. “Superficially the British manufacturers appear to have a strong case- In 1937 British exports to New Zealand were only £28,000,000 (New Zealand currency) as against £50,000,000 imports. But this, in the first place, was a great improvement as compared with the year 1932, when the figures were £12,575,000 and £31,300,000, respectively. And, secondly, Britain’s invisible exports shipping charges, cost of interest, etc., are not included in these figures. “New Zealand found itself recently in the position that its excess of exports to all countries was not enough to cover its invisible imports. What was it to do? It could take .more manufactured goods from Britain if Britain could contrive to take more 'of its farming produce. But the British farming community also has to be considered. In its present distressed state it would have every reason to complain if it were further undercut by New Zealand imports in the interest of British manufacturers. “Indeed, the time has come when Dominions like New Zealand and Australia must be expected to turn to the task of developing manufacturing industries of their own. If this course is followed, the Dominions may become more prosperous and have more to spend; in the long run they may be larger importers than they are now. It may well be that this will be better for both countries, and better for the Empire ”