FLOOD OF WEALTH

Evening Post, Volume CXXIV, Issue 26, 30 July 1937, Page 10

FLOOD OF WEALTH

FARMERS' VIEW OF IMPORTS

"The Farmers' Union has considerable sympathy with the plight in which the Manufacturers' Federation find themselves, as the same conditions which are causing their difficulties are also causing difficulties to the primary producers, said Mr. W. W. Mulholland, Dominion president of the Ne,v Zealand Farmers' Union, referring to the manufacturers' statements in regard to the position of their industries. "It is obvious, however," said Mr. Mulholland, "that an attempt is being made to create an atmosphere favourable to an attempt for increased tariff protection. Any increase of tariffs cannot shut out imports which.we receive in payment for our exports, but will increase the internal prices for these goods at the expense of the exporting industries. "Apparently the Manufacturers Federation are systematically endeavouring to create an atmosphere pending the return of Minister? who have been abroad, and statements drawing attention to the increase in imports have been made at intervals in the chief centres of the Dominion. They appear to be horrified at what they call the 'flood of imports' coming into the country, and the tone of their statements would lead one to believe that this flood of wealth was a catastrophe. On the contrary, however, it is the result of our great good fortune in that Nature has bestowed on us such a bountiful season, and in that at the same time the world has paid us satisfactory prices for some of our production for which we had no use. In payment for this, to us, useless produce, the world has sent us many things for which we have use pnd can enjoy. CREATING WORK. "The handling and distribution of these things will. give employment to thousands who in turn will give employment to other thousands, creating prosperity in which even the manufacturers will share, while if they succeed in denying to the people the use of the wealth which they have produced they will also impoverish themselves. The people of New Zealand cannot share the horror of the manufacturers at this flood of wealth pouring into the country from the rest of the world. They realise that if it is shut out they cannot get payment for their surplus products which would be of no more use to them than if they were tipped into the sea. "We would suggest that the Manufacturers' Federation should seek for a remedy that will not conflict with other important sections of the community. Any scheme for decreasing imports must result in unemployment in New Zealand, and is probably best commented on by reminding the Manufacturers' Federation that when our imports went down to £23,000,000 unemployment in New Zealand was at its peak."