PRICE GUARANTEE

Evening Post, Volume CXX, Issue 112, 7 November 1935, Page 22

PRICE GUARANTEE

HOW PLAN WOULD WORK

MR. W. NASH EXPLAINS

(By Telegraph—Press Association.)

NEW PLYMOUTH, November 6.

Mr. Walter Nash, president of the Labour Party, addressed an audience of more than 1000 at New Plymouth tonight. An overflow audience from the theatre heard the address through loud speakers outside the building.

Mr. Nash strongly attacked the National Government on the ground that its major acts of legislation during five years had done nothing to relieve the critical economic condition of the Government. He epitomised the main objective of the Labour Party as the restoration of a decent living standard to all those deprived of essentials for the past five years, and to restore an internal economy that would distribute production and services in I such a way that every person willing to work should have an income sufficient to provide him and his dependants with a home. "**

The procedure of Labour's guaranteed price plan he summarised as follows:—

1. The arrangement of reciprocal agreements with Great Britain and other countries under an undertaking by the Dominion to utilise the credit obtained for the purchase of goods for importation into New Zealand.^ 2. When agreements had been 'completed, negotiations would be carried out between the Government and different branches of the farming indus- [ try to fix guaranteed prices. . These negotiations to be based on a.detailed and accurate investigation into the cost I of production under average conditions ■ so as to ensure the farmer a fair average return for the time, energy, and skill and experience employed in production. Marketing would necessitate the ascertainment of , the total amount of each primary product required for internal consumption, and the negotiation of trade agreements for the disposal of the maximum quantity offsetting imports would be confined as far as possible to classes of goods that could not be produced economically in New Zealand. In the event of there being a surplus over the agreements negotiated, the Labour Govern-, ment would dispose of the surplus in the best available market and pay out to the farmer.

"Payment to the farmer must be measured by the same tape as is used to measure payment to others who render equal service," he said. "Guaranteed prices imply guaranteed wages and organised facilities for consumption."