The Gisborne Times PUBLISHED DAILY FRIDAY, MAY 26, 1933. THE HEAVY DECLINE IN IMPORTS.

Gisborne Times, Volume LXXIII, Issue 11954, 26 May 1933, Page 4

The Gisborne Times PUBLISHED DAILY FRIDAY, MAY 26, 1933. THE HEAVY DECLINE IN IMPORTS.

Thu fact that this Dominion's imports from -Britain as well as from other countries continue to dwindle is, apparently, being closely watched in tho, Homeland. In all the circumstances/ iit is not, of couivscp surprising that such should be the ,< case. At Home, tlior 0 .are many people who hold .that .the ... Government should not make tariff "Concessions to any country," not oven the Dominions, which does, not reciprocate, to a reasonable- extent;. As .it so happens, bothi:Australia alid New Zealand have, for some time past, mado pinch . smaller purchases from overseas than:, was.vformei’ly the case. At the same; time," they have been clamonriug. ; for tariff concessions . at

the expense of foreign, suppliers to the Homo, market. . shave .been nofcdC.that nn th'o ,'ilouso of Com-: tliisAreck 'Mil 'Porlcins; a ConsmAative that the' increase in wato of exchaugo ; tjio effect of iriullifying . the -: preference L which Now Zealand lias always accorded British goods. That that is the position cannot ho'honestly denied. Mr Porkius, indeed, went so- far As to suggest that it should be explained to rllio people of this Dominion that it would be impossible for Britain to continue to take their primary products if they did not, buy British manufactures more heavily. Seemingly, the lit. .lion. J. IT. Thomas, the Minister for the Dominions, was in sympathy with the protost. lie explained that the British Government could . not dictate to New Zealand, on a domestic matter siich as her exchange rate, and added, significantly, that lie was quite sure the fact that the protest had been made would be read witi 1 interest, in this Dominion. Mr. Thomas also reminded the House that a review of the protective duties allowed by New Zealand was duo next month. It can, we think, be taken for granted that Mr. Forbes and Mr. Masters, whilst at Home, will hoar quite a I°L about the drop in this Dominion’s imports. What sort of a ease they, will attempt to put lip remains to be seen. It need not come as any surprise if they suggest that New Zealand is buying less to-day simply because her people eanpot afford to make more extensive purchases. As a matter of fact, the drop in imports is due partly to the reduction in purchasing power and partly to the high exchange rate. The drop is, however. very formidable as may he judged from the fact that lor the 10 months ended on April 150 the imports were worth only just under £10,000.000 as compared with over £42,000,000 for the corresponding period of 1029-30. It is, in weed, doubtful if New Zealand will during the current calendar year, purchase from Britain more than £lO,000,000 worth of goods, whereas she will expect the Homeland to take from her primary products worth perhaps £30,000.000. The position must ho most unsatisfactory iron) Britain’s angle and it will make it much more difficult for New Zealand to resist efforts on the uarL.of th p Homeland to place supplies from her under a general oiiota system. On every hand, 'it should be agreed that the visit which is being made to the Homeland by the Prime /Minister and by the Minister of Industries and Commerce is very timely. There can he -no question but that the British authorities will now demand a much large.)’ share of this Dominion’s import trade.