MR. NASH SPEAKS.

Auckland Star, Volume LXIV, Issue 256, 30 October 1933, Page 8

MR. NASH SPEAKS.

SHIPPING SUBSIDIES. JAPAN'S CHALLENGE. "The question of shipping subsidies created a good deal of hard debating, because of the allegation that a number of the subsidies, especially those given by non-British countries, were unfair in their incidence," said Mr. Walter Nash, M.P., to-day, at a luncheon tendered the New Zealand delegates, when speaking of the conference of the Institute of Pacific Relations recently held at Banff, Canda.

The United States, said Mr. Nash, had affirmed that she intended to continue subsidies, because she was determined that she would not rely on other nations to carry her people or her stores. Mr. Nash quoted the case of a Japanese line so heavily subsidised that cargo could have been carried for nothing without loss. "The problem of shipping subsidies is an extremely difficult one," he said. Referring to what he termed the "Japanese problem," Mr. Nash quoted figures showing that between 1913 and 1931 Japan's share of the cotton trade had grown by 80 per cent, while Britain's share' had declined by more than half. There was an agitation throughout the world against Japan and her methods of capturing the textile trade. It was alleged that the wages being paid in the Japanese mills represented not only unfair competition but also that they were uneconomic. It was claimed that it was impossible for Japan to continue to produce the goods at the low price she was doing to-day. Referring to the working of the National Reconstruction .Act ifi the United States, Mr. Nash, who admitted that to him the scheme had appeared as uneconomic, said 2,800,000 people had been placed in employment. There were, however, still 9,000 - ,000 or 10,000,000 people out of employment in America. In his opinion the crucial moment for America and President Roosevelt would occur in January or February of next year, when the millions still unemployed would demand that something should be done for them. He believed that the President would endeavour to gain full success, although it would probably be necessary to bring in different economic laws.