The Press THURSDAY, OCTOBER 12, 1933. Quotas and Prices

Press, Volume LXIX, Issue 20984, 12 October 1933, Page 8

The Press THURSDAY, OCTOBER 12, 1933. Quotas and Prices

Mr David Jones, chairman of the Meat Producers Board, who returned to the Dominion yesterday, has been preceded by a good deal of the information which he gave in the interviews reported in " The " Press " this morning; but his comments and supplementary remarks make them very useful reading, and encouraging reading. One of the most important things Mr Jones has to say he says as distinctly as is necessary. He says that if the Dominion were to give the British manufacturer free trade to-morrow, it would make no difference to Great Britain's quota policy; and this is important, as we have urged again and again, because it means that producers are wasting time in complaining and demanding, when they should be preparing to submit trade, without loss or injury, to a new controlling factor. That Great Britain may be depended upon to further any working arrangement which, without nullifying or impeding her own purpose, will assist the Dominion—this may be taken for granted. The notion that she may be begged off, or bribed off, or bullied off is as foolish as it is unworthy; and Mr Jones's plain statement should enable farmers' organisations to rid their minds of it finally, and so ease the rather anxious position of the Government. Perhaps, also, when they resign themselves to the regulation of British imports of all major New Zealand primary products >except wool, as appears certain, they will begin to be more assured of the compensations, of which Mr Jones is able to speak hopefully. It may be difficult or impossible to show that the strengthening of meat prices, which saved the Dominion from disastrous levels, was due entirely to the import restricting system of quotas and tariffs; but that this was at least the chief cause is beyond doubt. Further, Mr Jones is so confident of still better prices this season that he recommends meat growers not to sell forward and lose any part of an advantage they badly need. Now what has happened with respect to meat may reasonably be expected to happen with respect to butter and cheese, the same forces operating in the same way. Reservations and qualifications may be necessary, because of differences between the dairy and meat industries and between the proportions of their export output to total British imports and consumption. For instance, New Zealand cheese might have to stand a heavier share of the total restriction than New Zealand meat. But every such argument breaks against the resolution of the new British import policy, unless it is used only, first, to discover and limit the proper field for negotiation and adjustment, and second, to bring into concrete terms the problem of surplus production and disposal. Mr Jones does not enter upon the question whether the British effort to raise price levels is comprehensive enough—whether it is sufficient, or wise, or fair to the British consumer, to raise commodity prices solely by restricting supply; a question to which littlo attention has so far been paid. But it is not one in which the New Zealand producer is directly interested. It is enough to say-that Mr Jones's message for him, though expressed in the language of prudence, is as reassuring and as encouraging as any delivered within the period of fresh hope.