WILL PULL ROUND

Dominion, Volume 24, Issue 62, 6 December 1930, Page 9

WILL PULL ROUND

Next Movement Upward MR. FORBES’S VIEW .Against Moratorium Proposal ACTION UNNECESSARY By Telegraph—Press Association—Copyright ' London, December 5. “No Government action will be necessary” is the opinion of the Prime Minister of New Zealand, the Right Hon. G. W. Forbes, who was interviewed on his return from Ireland regarding the establishment of a moratorum in New Zealand in the interests of the dairy producer. Mr. Forbes stated that he recognised fully the serious position the dairy farmers, as well as the woolgrowers, were in. The low prices for their products were bound to cause many hardships, but he was confident that mortgagees and financial institutions would recognise that it was in their own interest, as well as that of the country, to help the producers to meet the position, with the result that no Government action would be necessary. New Zealand, he said, was passing through a crisis that could only be overcome by the financial institutions, the farmers, and the whole country working together. If this were done, he was c nfldent that New Zealand would weather the present difficult position. Commodity prices were now at their lowest, and the next movement must be upward. Commenting on the Dairy Council’s request for a new appeal to Britain to tax foreign food and give preferences in response to lower New Zealand Customs duties, he said that he had already fully presented the preference case at a conference at which the British Government had given a definite final answer against the taxation of foreign food, and no good purpose could be served by an attempt to reopen the subject before, the conference at Ottawa.

Mr. Forbes, Sir Thomas Sldey, and party proceed to France on December