MORATORIUM CRY

Evening Post, Volume CX, Issue 135, 5 December 1930, Page 10

MORATORIUM CRY

MR. FORBES'S REPLY

OPPOSED TO PROPOSAL

THE REAL ROAD OUT

United Press Association—By Electric Telegraph—Copyright. .'(Received sth December, 2 p.m.) LONDON, 4th December. The Right Hon. G. W. Forbes has arrived in London from. Ireland. Interviewed by dairy interests in regard to the suggestion of a moratorium, he staled 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 confident 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 in attempt to. reopen the subject before the conference at Ottawa. Mr. Forbes, Sir Thomas Sidey, and party proceed to Franco on 6th December. '