Wairarapa Times-Age WEDNESDAY, DECEMBER 6, 1939. EXCHANGE AND IMPORT CONTROL.

Wairarapa Times-Age, 6 December 1939, Page 6

Wairarapa Times-Age WEDNESDAY, DECEMBER 6, 1939. EXCHANGE AND IMPORT CONTROL.

ACCORDING to the Prime Minister- (Mr Savage), ’“ihs humbug have been written in this country round the subject. of "exchange control. In view ol the amount ol ink H has been expended bn the problem and the poor progress Ihus far made /wards bringing it to a satisfactory so n ion it. cannot but be agreed that there is a good deal °, '[ h " Ihe Prime Minister’s statement as lav as it goes. • been a great deal of unprofitable talk as well as writing on the subject of exchange and import control, however so that Mr Savage’s statement needs amplifying to some exten .

An attempt to trace to its origins and sources this gieat mass of ineffective talk and writing evidently would unprofitable, but problems of exchange and import control as much as ever demand serious attention. Ball ling as t ies problems have thus -far proved themselves, it should not • impossible to reduce them to a very much simpler shape and aspect than they wear at present. An important tn-sl step, at least, in that direction, has been taken by those who havi admitted of late—amongst them the speakers at the of town and country people in Hamilton which was repotted vesterdav—that some form of import control and regulation is necessary for the time being and in existing conditions.

The object of control and regulation of course is to reduce the total volume of imports, in relation to our means ol paying '"or them so that adecpiate balances may be built up in London to meet debt and other charges—these now including items ol war costs which probably must be expected to increase rapid y and heavily Reducing the volume of . imports necessarily means doing without something that has been imported of late, but on the figures of trade over a period it need not mean doing without anything that was not done without quite comlortably only a few years ago. In the circumstances the amount ol discontent and apparent disorganisation of trade that is resulting from the current methods of import restriction is rather staggering. ]>arl ieularly when account is taken of the comparatively slight reduction thus far effected in imports.

Tf. should be open to lhe Government to do a good deal to modify the existing state of affairs by taking import traders, manufacturers (who normally are heavy importers) and others into the closest possible consultation in drawing up control and restriction schedules. Practical discussion no doubt is much to be preferred to what the Prime Minister calls “miles of humbug.” The ultimate solution of exchange and import problems and of other economic disorders now apparent, must, be sought, however, in bringing costs as they affect, different branches of industry within the. Dominion as nearly as possible into harmony. Only in these conditions would our pi imam export industries be enabled to supply in full measure whatever external markets are available and thereby to make the best and most effective contribution possible to the solution of the problem of oversea exchange. AN APPEAL TO THE LEAGUE. TN lhe conditions of conflict now extending in the world, an " appeal by Finland to the League of Nations raises no very immediately hopeful prospect. It. is suggested that Russia on being indicted as an aggressor, or without waiting to be indicted, will leave the League, thus following a bad example set in the past by Japan, Germany and Italy. To that extent, aggression may prevail for the lime being and set law and justice at defiance. It is not yet to be taken for granted, however, that lawless aggression will continue to triumph, or indeed that it can ever be more than an unstable and passing phase of human development. Through their Prime Minister, Al. Ryti, Ihe people of Finland have proclaimed that whatever is our fate, through our -fight amt sufferings wo are furthering the creation of a better world. In defending her own liberty Finland believes she is defending the liberty ol nations not immediately threatened. If Finland should perish it wotdd be only because the civilised nations have not the necessary solidarity to enable protection of the weak from violence. If this is to be called an unduly optimistic profession ol lailh. it will have to be agreed also that there is little enough hope for the world at large—even for great and powerful nations which now deem themselves secure. In fact, however, there is already a great deal to set against lhe vile development of unprincipled and savage aggression in which Russia is now competing with Germany, 'flic Allies are not intent merely on overcoming force with force, but are alive to lhe necessity of establishing law ami justice in lhe world. In the House of (.'ominous the other day lhe British Prime Minister (Mr Chamberlain) recalled that his predecessor. Lord Baldwin, had declared thal if the League of Nations were io come Io an end, lhe first thing the world would have to do would be to build it again. As Mi' Chamberlain observed, that is a line of thought present in many minds. Lord Baldwin’s affirmation can hardly be falsified save in a world that has turned its back on all hope of orderly and imide progress. Any dispassionate observer must bi l impressed by the vigorous expression, in many countries in which men are free to speak their mind, of whole-hearted support for the principles the Allies and Finland are fighting to establish. Apart from the rising tide of feeling in lhe I’niled Stales, a Buenos Aires correspondent, surveying Press reactions, has said that there is unanimous condemnation of Russia throughout the South American countries. The same holds good of at least a considerable part of Europe and it need not be doubted that a groat proportion of the people now wearing the totalitarian yoke would gladly give their verdict, if they were aide, for the re-establishmenl of peace, law and freedom. In lhe developing volume throughout the world of moral protest against aggression, as well as in the strength of the Allies, the hope appears of better days to come.