GUARANTEED PRICES.

Auckland Star, Volume LXVI, Issue 264, 7 November 1935, Page 11

GUARANTEED PRICES.

OUTLINE OF PROCEDURE.

BIG CROWD HEARS MR. NASH,

(By Telegraph.—Press Association.)

NEW PLYMOUTH, Wednesday

More than a thousand people crowded into one of the theatres here to listen to the deputy-leader of the Labour party, Mr. Walter Nash, and an overflow* outside heard his address from loud-speakers.

The procedure in regard to Labour's guaranteed price plan was summarised by Mr. Nash as follows:—(1) Arrangement of reciprocal agreements with Great Britain and other countries under an undertaking by the Dominion to utilise any credit obtained for the purchase of imports; (2) when agreements had been completed, negotiations to be carried out between the Government and the farming industry to fix guaranteed prices, these negotiations to be based on a detailed and accurate investigation into the cost of production, under average conditions, so as to ensure the farmer a fair average return.

Marketing would necessitate ascertaining the total amount of each primary product required for internal consumption and the negotiation of trade agreements. Imports would be confined as far as possible to classes of goods that could not be produced economically in New Zealand. In the event of there being a surplus over the trade agreements negotiated, the Labour Government would dispose of it in the best available market and jmy out to the farmers.