The Waikato Times WEDNESDAY, MAY 6, 1936. LEGISLATIVE MEASURES

Waikato Times, Volume 119, Issue 19878, 6 May 1936, Page 6

The Waikato Times WEDNESDAY, MAY 6, 1936. LEGISLATIVE MEASURES

A report from Wellington yesterday stated that, when the Primary Products Marketing Bill came up for discussion, attention would be given to the proposal to vest in the Government control of Shipping contracts. “ The significance of the phrase ‘any primary products,’ the report stated, “is now receiving attention, it being contended that the Minister will by this provision have complete con—trol over the shipment of meat, wool, fruit, etc., as well as dairy products.” It is strange that the importance of this provision should not have been stressed at once. The Bill states the position per—fectly clearly. Its principal functions include: “The marketing in New Zculnnd or overseas of primary products, whether or not such products have been acquiredlon behalf of the Crown.” Nothing could be plainer than that. The Bill will enable the Government to purchase dairy produce during the coming production year, but the Minister can, if he so desires, control the marketing, both locally and abroad, of all the primary products of the Dominion. It might be as well if these powers were studied in conjunction with those already conferred on the Government by the Reserve Bank Amendment Act. The Bank has been given control of “the transfer of moneys to and from New Zealand,” and the disposal of moneys that are “derived from the sale of any New Zealand products and for the time being are held overseas.” That is somewhat involved, but there is good reason to conclude that the Government, through the Bank, will have control of the returns from any pro—ducts sold abroad. The authority to export could be made conditional. If such far-reaching powers should not be exercised, it would still be necessary for anyone wishing to remit funds either to or from the Dominion to do so through the Reserve Bank, unleSS that institution makes some'arrangement with the trading banks for the transactions.

The general policy outlined by the Minister of Finance, when he addressed the conference in Wellington recently, also indicated that full control of funds overseas was intended, because he gave the order in which they would be used and he could hardly have done that without first being sure that the funds would be available. The direct reference to products “for the time being held overseas ” was necessary for the Government’s purpose because those shipments had passed beyond the limits of direct control, but all future shipments will he by authority only, and whether they are owned by the Government or not, the proceeds will be under the direct control of the Government through the Reserve Bank. The fact that the owners have been given no assistance at all, in the form of guaranteed prices, will make no difference. The two measures assure an almost complete degree of State control, and it is as well that the fact should be recognised. ’