BRITISH GOODS

Evening Post, Volume CX, Issue 135, 5 December 1930, Page 14

BRITISH GOODS

DOMINION DIPORTS

Speaking at the' annual meeting of the British (U.K.) Manufacturers 1 Association of New Zealand yesterday afternoon the president, Mr. L. Ashcroft Edwards, referred to the present worldwide depression, and the rjost-war process of deflation. A point that was not generally recognised was that the value of the £ varied as did that of of any other commodity. Money raised in periods, of inflation had to be paid back at a heavy increase. In such conditions each country must investigate its own position. Eeferring to the economic position of New Zealand, Mr. Edwards emphasised the fact that New Zealand had only one market, Great Britain. Tho prosperity of New Zealand depended entirely upon Britain. The only means of bringing wealth into this country ■was the sale of our primary products, •which under existing conditions meant sale in the Old Land. The only sane course for us to adopt was to do everything possible to place our farmers in a strong competitive position. Quoting the figures of 1927-2S, the speaker pointed out that the percentages of produce wero: Total farming, 78.6; mining, forestry, fishing, and building, 20.4; local factory production, 52.1. He said that tho volume of production was increasing, such increase being due to the enlarged volume of our primary products. AH other sources of production, including factory output, had been going back. As to encouragement being given to local manufactures, the real test was whether the manufactures were economically, justified; all others wero a burden on the community. In tho case of noneconoinic manufactures, they meant that the duties were paid by the consumer; and that meant adding to the cost of living.