NEW ZEALAND'S PROBLEMS

Press, Volume LXX, Issue 21179, 1 June 1934, Page 12

NEW ZEALAND'S PROBLEMS

ADDRESS BY MINISTER FOR FINANCE "FREE TRADE POLICY QUITE IMPOSSIBLE" iMiCSii ASSOCIATION TELEGrV.f.; CAMBRIDGE, May 31. The Minister for Finance, the Rt. llon. J. G. Coat.es, was given a hearty welcome in the Town Hall to-night, when he delivered an address to an audience of 600, the Mayor, Mr C. 11. Priestley, presiding. The Minister was welcomed by Mr F. Lye, M.P. After referring to a revival of industry, Mr Coat.es said he believed better times were ahead, with evidence of rising confidence, though the country's troubles were by no means over. The great difficulty which New Zealand faced to-day was the policy of extreme nationalism among foreign countries. Many count lies were producing more than was expected, and were sending their surpluses to Great Britain. The effect upon New Zealand was seri-

Ancthcr aspect definitely concerning the Dominion was the changed policv of primary production and marketing at Home. It was quite impossible for the Dominion to adopt a free trade policy. New Zealand had to co-operate with Britain ail the way. Mr C'oates was of the opinion that the action taken at Ottawa was in the entire interests of the Empire farmers. The Ottawa agreement had resulted in the sheep and pig-farmers of the Dominion being practically out. ot trouble to,day, though he regretted that they had never really sat down with Great Britain's representatives and decided upon a quantitative agreement. However, there had been a sigh of relief from every Dominion dairv farmer when it was learned that Great Britain would not interfere with the entry of dairy produce from New Zealand for another two years. If was essential, said Mr Coates, lhat Mir people of New Zealand todav should watch carefully the poiii-v of Great Britain. Britain had decided upon a policy of subsidising milk and kindred products. New Zealand had to prepare a plan to meet, th'-re altered conditions at. Home. The economic conditions of Great Britain were altering and the best, thing Mew Zealand couhl do v-ou'd be to follow Britain's example, An agreements phase had to be passed through. Mr C'oate:; said New Zealand mitfht find it. essential to have quantitative regulations and then find ways of sending l-he surpluses of primary produce to other markets. He did not. think a linking up with Eastern markets would be a menace in years to come. The Minister was accorded a hearty voir: of thanks.