TRADE BALANCES

Evening Post, Volume CV, Issue 127, 31 May 1928, Page 14

TRADE BALANCES

MR. POfiSON'S RJ3TORT (Special to "The Evening Post.") I'ALMEIISTON N., This Day. "The position is a great deal worse 'than thel official figures show, and I defy the Honourable Downie Stewart or anyone else to dispute it," said Mr. " W. J. Poison, Dominion president or the New Zealand Farmers' Union, speaking in Feilding yesterday, iv reply to the criticism levelled at him . by the Prime Minister- and the Minister o£ Finance. Mr. Poison stated that there had been considerable controversy in the Press, and criticism by the Prime Minister and Mr. Downie (Stewart, of things alleged to have been said by the speaker. Irrespective of what had been published, he desired those present to know just what he did say as!he had more concern lor the fanners' opinion than that of those who were not producers. His speeches, which were the subject of the criticism, dealt with the trade balances over the period 1921 to 1927, and lie utilised the official figures published by the Government. When speaking at Eltham he had been accused of giving inaccurate .figures, and the Reform Party's organiser (Mr. E. A. James) had attempted to show that he had misinterpreted the figures. Mr. Poison had replied to Mr. James's letter quoting the official statistics to prove his figures. The figures were taken from the Official Year Book. The whole attack, continued the speaker, was based on his use of official figures at Masterton, while at Eltham he had used the actual figures. Curiously enough, his figures coincided entirely with those used and quoted by Professor Murphy and other economists. Mr. Poison said that the Minister of Finance had accused him of ignoring the fact that fifteen millions of the borrowed money had been advanced to settlers, being, therefore, self-supporting. He had not iguored that. The whole argument was on the question of the balance of trade. Should an ever:increasing borrowing policy continue whil# the value of the country's exports remained practically at a standstill? That was the question, concluded Mr. Poison. ■_ ' INFORMATION FOR