“NOT CONVINCING”

Gisborne Herald, Volume LXXV, Issue 22582, 10 March 1948, Page 6

“NOT CONVINCING”

TRADERS' REPLY CREDITS AVAILABLE RECORD EXPORT SEASON (P.A.) WELLINGTON. March 9. The statement by the Minister of Customs. Sir. A. H. Nordmeyer, on import licenses for 1948 is most unsatisfactory and unconvincing, not simply because of his cutting down of licenses as compared with 1947, but also because he produces no facts and figures whatever to prove the necessity for any such cuts,” said Mr. Haskell Anderson, president of the Associated Chambers of Commerce. He added that importers felt that an unwarranted severe restriction was being placed on trading activities and that the Government was restricting considerably in excess of the extent to which the United Kingdom Government had asked New Zealand to reduce her importations from the United Kingdom.

Mr. Anderson said the importers agreed with the Minister that New Zealand should confine its importations from scarce currency countries to strictly essential goods, and that New Zealand should meet the request of the United Kingdom Government to limit total imports to goods which could be paid for out of New Zealand s current income (export earnings! and not encroach on New Zealand s bankcd-UD. sterling exchange otherwise available for the importation of goods. • “But where we part company is that we definitely do not agree that tais latter requirement ‘inevitably means a considerable reduction on last years import licenses.' ”

Mr. Anderson said the present prolific primary production season would be a New Zealand record and. in addition. the 'United Kingdom Government bad increased prices payable for New Zealand produce, which it was buying under contract. These two facts, be said, combined to give New Zealand a prospect of current income during the present calendar year that had never before been attained.

Mr. Anderson said importers were still awaiting a reply to their request to the Minister to release a detailed income and expenditure account and balance sheet covering New Zealand s total estimated overseas exchange operations for 1948. He added: “We suspect that the nigger in the woodpile is that the New Zealand Government is exercising its option to repay in 1943 out of our current export earnings a loan of i'21.000.000. That probably would account for the import restrictions.”