RECIPROCITY

Evening Post, Volume CXI, Issue 144, 20 June 1931, Page 15

RECIPROCITY

BRITAIN NEGLECTED

"On the principle of reciprocal trading I believe that it is a good business propoßition to buy from your' customers," saia Mr. L. A. Paish, H.M. Trade Commissioner, a* "Wadestown on Thursday. "A prominent banker gave some- illuminating figures the other day when he pointed out the one-sided character of New Zealand's trade. New Zealand has, to-day, a favourable trade balance with only one country, Great Britain. Great Britain takes nearly twice the value of New Zealand's goods that New Zealand takes from her. In other words, for- every shilling's worth of New Zealand products which go Home, New Zealand imports 6sd from Great Britain. With the United States the position is very different/for for every shilling's worth of New Zealand goods which the United States takes New Zealand takes back 3a 7d. There is a'similar state of affairs with regard, to every country with which New Zealand is trading to-day, and quite apart from, the interest payments made in London there are, I feel, too many millions of British money which Now Zealand obtains for tho salo of her products in Great Britain which, she is spending with nations which do everything they can to prevent the salo of New Zealand products .in their own territory. That is a position we all want to alter, and I think it is up to every one of us to do our bit. I do not believe in being unduly optimistic. "We have to face unpleasant facts, but it is no good being too gloomy about them. I believe in the essential economic sanity of my own people and that they will face up to the unpleasant facts and apply tho remedies essential, even though th|y may be unpalatable. New Zealanders are of the same stock. I hope and trust that they will be the first to rise out of the depression."