FREE EXCHANGE

Wairarapa Times-Age, 2 June 1939, Page 3

FREE EXCHANGE

DESIRED BY FARMERS.

(By Telegraph—Press Association.) CHRISTCHURCH, June 1. The proposal to permit the exchange rate to determine itself, as made in a report, by the joint committee of the [New Zeland Farmers’ Union and the New Zealand Sheepowners’ Federation. *was endorsed by a large majority of the annual conference of the North Canterbury district of the Farmers’ Union. Little support was given an alternative motion by Mr L. McCaskey (Omihi) in favour of a guaranteed price for sheepfarmers. Mr. McCasky said that money could be found for a guaranteed price on, the basis of an average over 10 years from 1925 to 1935. The main opposition to “free exchange’’ came from Mr J. W. D. Hall, retiring vice-president, who attacked the committee’s report after it had been explained by the Dominion president, Mr. W. W. Mulholland, and Mr. G. C. Warren, Darfleld. Mr. Hall said the report contained some very dangerous statements. "He denied that the guaranteed price or the wheat subsidy had caused a decrease in the production of dairy produce and wool, for which mad seasons and facial eczema were responsible. Raising the exchange or allowing it to rise would have an inflationary effect, which would finally reach the farmer. “What we need is more orderly marketing to ensure that our produce returns its full value,” said Mr Hall. “I am sure there are elements, preying on the farmer, which have not yet been touched. Till we get co-operative marketing, we will be in difficulties."