NOTES OF THE DAY

Dominion, Volume 25, Issue 91, 12 January 1932, Page 6

NOTES OF THE DAY

Judge Ayson’s remarks, published this morning, on the comparatively happy lot of the Cook Islanders may induce some wistful sighs among their pakeha brothers. The reason lies in the fact that the Natives have not been allowed to alienate their lands and, although the depression has affected them, “they are living quietly under excellent conditions” on the produce of their own holdings. In New Zealand we are not quite so close to the land and in the most highly-developed industrial countries the divorce between the mass of the population and the soil they sprang from is even more complete. With some notable exceptions, such as France, modern town dwellers have lost their roots and at the first touch of economic drought many wilt and wither. This fact is pertinent to the modern unemployment problem.

To read of the ban placed on foreign stage artists in Britain is to realise how far the cult of mutual exclusiveness has gone among the nations. In the past Britain has been noted for her tolerance and open hospitality and has probably been moved to action by the bad example of some of her neighbours. The question presents itself insistently where will this craze for national self-sufficiency end? If there are to be no exchanges in stage artists, will not the ban extend to other art and music, science and knowledge generally? Such, a question recalls some of the absurdities perpetrated out of well-meaning patriotism during-the War. /There is comfort in the reflection, however, , that the more extreme nations become in their mutual exclusiveness, the nearer the world is to an effective reaction from the whole mad business. It will become a joke and be laughed out of the world court of opinion.

Once again the fortnightly trade and financial review cabled from London is almost uniformly hopeful and solid grounds are given for the optimistic tone. Chief among these is the strong position disclosed by the great joint-stock banks, the comparative steadiness of sterling quotations and the gains made by most Government stocks. The two last-named are proof, if it were needed,' that Britain has steadily resisted the temptation represented by inflation since she went off the gold standard. Another proof is the slight decline in wholesale prices although generally these have held remarkably steady. The dark spot is the obstinate depression overhanging the shipping industry which ■must be considered as a sure sign that as yet there has been little movement toward a resumption of normal international trading. Economic nationalism, with tariffs as its most damaging manifestation, must accept a large share of the blame although there is a growing hope that the nations may before long be taught reason in the hard school of adversity. At any rate 1932 is opening better for Britain on most sections of the economic front.

Details of the trade agreement reached between Mr. Stevens on behalf of Canada and Mr. Downie Stewart for New Zealand will be awaited with interest. But whatever the nature of the treaty it can hardly fail to be an improvement on existing conditions under which trade between the two countries has fallen to comparatively small dimensions. Since negotiations have now proved fruitful, it seems unfortunate that they were not opened long ago instead of allowing trade connections to be lost in the long interval since the second half of 1930 when the breach was opened. On the correspondence published by the New Zealand Government it would appear that this Dominion was not responsible for the delay although it may have been too precipitate in the first place. The rights and wrongs of the controversy may well be buried, however, especially if the new agreement should offer effective openings for reciprocal trade'. If the returns for 1929 are consulted, it will be found that New Zealand bought imports valued at £4,774,493 from Canada and Canada took New Zealand goods worth £3,353,975. Even if the new agreement were as favourable as the old, which can hardly be expected, conditions have changed so much in the interval that the resumption of trade on the former scale cannot be expected. On the other hand the tariff war has ended in a mutual treaty, which can be considered a sentimental gain, and the foundations laid for a gradual re-building as the financial outlook improves.