The Waikato Times WEDNESDAY, MAY 18, 1938 MR NASH'S TURN

Waikato Times, Volume 122, Issue 20501, 18 May 1938, Page 6

The Waikato Times WEDNESDAY, MAY 18, 1938 MR NASH'S TURN

. tha promise made by the Prime Minister stands then the leader 0 * lO -Opposition will be able to nominate some member of his party to speak over the broadcasting system in reply to Mr Nash, for both parties were to have equal treatment, but probably there would be no ei ‘ protest if political matters were conspicuous by the absence from the radio service— -at least for the time being.' There was, however, a special reason why the speech by the Minister of r inanee should be broadcast. Mr Nash was able to give some particulars with respect to the past financial year, and to deal with other monetary matters that had been subjects of discussion. But in the country districts the items of most direct interest to many primary pioduccra were the references made by the speaker to rural problems and issues. It was cheering to have from the Minister an assurance that the farmers, who had been so hard hit by the losses of stock in the past few weeks, would be given a measure of assistance in order that they could carry on with their work. As such a course would tend to maintain production it would be of value to the State, as well as to the farmer. Then there was the undertaking to find a way of getting the man on the land more money so that he could compete for the labour required. That statement will certainly not be forgotten. The primary producers would also welcome the assurance that the debit balance in the Dairy- Industry Account at the close of the first year had not been carried forward, so that any surplus this season w ill not be used to wipe off the deficit of the preceding period. Ihe practice, it must be admitted, is not in keeping with the statements made by the Minister when overseas. When he addressed the London Chamber of Commerce Mr Nash explained: “If the proceeds from sales are greater than the guaranteed price, then the account is in credit. The amount of any surplus would be used to offset any deficits which might occur.” That statement was repeated in Canada, but it is not to guide the course adopted. There is now a substantial surplus in the Dairy Industry- Account and the Minister Jjopes to he in a position to inform the producers next month, at the Dairy Association conference, what the Government intends to do with any 7 credit balance at the end of the year. That there will be a very substantial surplus does not appear to be questioned in dairying circles, and there* should be no doubt at all regarding the intentions of the Government. Ihe Minister himself has stated that the producer would get every fraction of a penny realised from the sale of his produce overseas, and that certainly* is what he expects. Any other proposal would not be satisfactory. The surplus will have been derived from the sale of his produce and he will need a lot of convincing that there are other and better ways of using the funds available. It was a pity that Mr Nash, in an effort to make his case seem complete, devoted so much time to minor matters, for most of them are controversial. The claim that the new system had saved the dairy companies large sums in interest was again run out. It will be recalled that, in his address to the National Dairy Association conference in Hamilton last year, the Minister of Agriculture said: “I have noticed that the representatives of some dairy companies have commented on their increased interest charges.” The companies, Mr Lee Martin added, held that the additional cost was due to the longer period of storage, but he thought that “any increase in interest charges arises mainly from the fact that this season, with the certainty of the guaranteed price payments, dairy companies have been able to assist their suppliers by making relatively higher monthly advance payments,” and that sometimes involved a heavier overdraft. It is strange to have one Minister claiming that savings to the industry through reduced interest charges are substantial, while a colleague gives his considered opinion why interest charges have risen. Why not ascertain the exact position and allow the matter to be decided? There is no method for recording the promises and assurances that come over the air, but those made by Mr Nash on Monday night will not be forgotten. The current year’s accounts and the prices for the coming twelve months will ensure that.