BRITISH IMPORTS OF PRIMARY PRODUCTS.

Press, Volume LXIX, Issue 20915, 24 July 1933, Page 7

BRITISH IMPORTS OF PRIMARY PRODUCTS.

■ro 'jni: editoe of thk vnms. Sir,—lt is interesting to read how complicated our one-sidedly economy has developed, namely the production

of primary products lor exports. lam really persuaded that Mr L. C. Walker's idea of introducing another million or two immigrants to New Zealand is on the right lines. More so now because I can see a ve |ry anxious time for New Zealand WJ *h regard to the quota system proposed by Britain. I read that for several years there has been a great propaganda movement for increasing Britain's food production. which has been boosted and followed by land speculation. The British Government passed an act whereby the farmer tenant could borrow from the Government 80 per cent, of the land value and purchase his farm. The Government also supplied a large proportion of stock and seed. Four of the five large banks agreed to advance the money; consequently millions of pounds was advanced. We then find that prices of primary produce dropped considerably and a 10 per cent, tariff was agreed upon against the importation of many primary products. Prices continued to fall, and now the British Government and the banks are that the colonies are to blame and the imports from the Dominions are to be regulated. Why? To attempt to save the millions the banks have at stake in agricultural land. You must remember that the Dominions are not buying in return anythink like the amount they are exporting to Britain. I should like to place before your readers another side of the picture. I read in "Current History" of June, 1933, that on April 24, 1933, Britain made and signed a reciprocal trade agreement with Denmark for three years, based upon the most favoured nation clause. Great Britain agrees to continue buying approximately the same quantity of bacon, butter, and eggs. The tariff upon butter will still stand. Great Britain will buy equivalent to 2,300,000 hundredweights of butter from Denmark. Great Britain in return will export to Denmark 412,000 hundredweights of fresh and wet salt fish, and 80 per cent, of Denmark's foreign coal must be bought oil Great Britain instead of 43 per cent., which means that Denmark will buy 1,350,000 tons more coal from Great Britain every year. Denmark promises to increase her annual purchase of steel and iron from 50,000 to 75.000 tons. Denmark is well satisfied because she has a steady market for three years. In April Denmark closed a contract with Great Britain for a huge construction of combined railway and highway bridges between the islands of Zealand, Falster, and Laaland. One bridge alone will have a navigation clearance of 85 feet. The British Treasury allowed half the loan to be raised in London. We in New Zealand can now see at least two reasons why Britain is going to insist that New Zealand must only send a proportion of what she has in the past.—Yours, etc., W. T. CONIBEAR. July 22, 1933.