IMPORT CONTROL.

Auckland Star, Volume LXXI, Issue 50, 28 February 1940, Page 10

IMPORT CONTROL.

EFFICACY OF PUN DOUBTED.

' ACCOUNTANT'S OPINIONS.

(97 Telegraph.—Press

WELLINGTON, Tuesday.

Sttious doubts as to the efficacy of the Government's policy of import control were expressed by Mr. W. R. Brown, of DuMdia, president of the New' Zealand Society of Accountants, in an address to the annual conference of the society to-day. The speaker said that the policy might Improve the sterling position, but •t tfc* «qst of a serious setback to the Internal trade of the Dominion. ■ He "also emphasised the danger of inflation. ' Mr. Brown contended that Government co-operation with the banks, as had been pSise on other occasions to ration ex--change and so check the drift, would hare 1 been just as effective, and could hay* operated ■without the harassing complications and anxiety to w'hfi»h bueuwsa had been subject during the past 12 months. "In order to assist industry, both primary and secondary, to Fecover from the Wows of the past 20 years, and to stimulate the increase in revenueproducing activity, it may be found necessary," said Mr. Brown, "to raise a further external loan for this specific purpose. To advocate additional borrowing at the present time may appear inconsiatent, but desperate problem* requir* desperate remedies. *I feel that the most desperate problem facing the Dominion to-day is the necessity for, more freedom of action lor private enterprise, and for immediate step* to fee taken to ensure that raw mttUriala for manufacturing and stocks for trading are made available. Otherwise •tile inference is obvious. Since childhood we have heard the fable regarding the goose which laid the golden rb spite of all that can be claimed in favour of a better distribution of the national income, the needless dissipation Of reservea, whether national or private, and a slackening off in the effort* to produce, must, in the long run, lead to greater difficulties than would have been tha case had sound business principles .:;,.■