IMPORT POLICY

Wairarapa Times-Age, 24 May 1939, Page 5

IMPORT POLICY

POSITION STILL CONTROLLED BY GOVERNMENT STERLING ONLY AVAILABLE FROM RESERVE BANK. LICENCES BEING ISSUED AS USUAL. (By Telegraph—Press Association.) AUCKLAND, May 22. Through the Reserve Bank the Government still controlled the importing situation, apart altogether from the effect of the judgment recorded against its import regulations. This was the general opinion among importers in Auckland today. It was pointed out that, even if the Government accepted the judgment and dropped the import control scheme, importations would still be restricted by the amount of overseas sterling funds that were made available by the Reserve Bank. The crux of the situation was the right exercised by the Reserve Bank, by proclamation, of controlling exchange. Unless other financial arrangements were made, importers could not claim delivery of goods if exchange were not made available through the Reserve Bank for payment. Cables from overseas suppliers of goods, inquiring whether, in view of the decision of the Supreme Court invalidating import restrictions, unrestricted shipments of merchandise were now possible, have been received by many importers. News of the judgment was broadcast over 8.8. C. stations in England on Monday. However, the Customs Department in Auckland proceeded today with the issue of licences as usual, its view being that the interpretation of the judgment was a matter for the Crown Law Office. In the meantime there has been no general rush by importers to test the effect of the judgment by demanding goods now held on the wharf because licences have not been, forthcoming. It is stated that fairly large quantities of such goods have accumulated. A request for the delivery Of the goods concerned in the judgment was served today by plaintiffs in the successful action against the Crown, F. E. Jackson and Company, upon the Collector of Customs, Mr Abercrombie.

The request points out that the judgment directed delivery of the goods, 24 dozen kerosene pumps, or payment of their value, £l4 4s. » “The goods concerned are actually in Auckland,” said Mr Gainer Jackson, a representative of the firm. “The hext move rests with the department. If it appeals from the judgment it could, of course, apply for a stay of execution.

“I can only say, at this stage, that the Supreme Court’s judgment is a vindication of the rights of the subject and freedom of the individual.”