The Grey River Argus MONDAY, October 19th, 1936. TELLING NEW ZEALAND HOW.

Grey River Argus, 19 October 1936, Page 4

The Grey River Argus MONDAY, October 19th, 1936. TELLING NEW ZEALAND HOW.

The party of British capitalists who came for the Chambers of Commerce Conference have taken on themselves a good deal more than their mission would have led this country to expect. What they had to say at. the Conference amounted to an instruction that we must find room for people for whom they cannot find room in their country. They also directed that we should keep out Japanese goods because they we*®. competing against goods from their factories. They futher advised us that we must spend more money on armaments. But they kept th e most flagrant piece of interference till the conference was over. Lord Elibank, as their spokesman, now says in effect this country is unable to control its industries properly. The Industrial Efficiency Bill does please him and his friends. These visitors ar e quite entitled,, of course, to have their say, but it is quite another question whether .hey are entitled to ask for what they want. The modpst request thev make is that the Government should drop its Industrial ■•lfficiency Bill. Suppose a New Zealand capitalist went to London asking Britain to drop her policy of subsidising her primary producers! lie would be told the tail was trying to wag the d°gLord Elibank/however, says his own financial interest in New Zealand. justifies him in telling the Government how it should govern. and what it should not do. He must reckon his interest a mighty large one indeed when he takes up such a stand. There is of course, another tag to it. British capital, he says, is fighting shy of the Dominion, and th c Bill in‘question is what he quotes as the reason. Air Forbes says his comment is bound to have effect when cabled to England. So that has been the first fruits of this vaunted Chambers of Commerce Conference! Nobody asked that Lord Elibank or -anybody else should spill British capital into this country merely because we would like it. It was simply recommended as a means to enable the Dominion to find room for the people for whom they have no longer any use where Lord Elibank comes from. British capital has never been invested here for anything except profit. If it can find profit, it will come again no matter what Lord Elibank says. But it cannot be expected that, in order to increase its opportunities and profits here, local industry shall be left inefficient, and incapable of effective competition against imports from any and every quarter. Our industrialists—as distinct from our importers—have given the Industrial Efficiency Bill their benediction. Is that the fly in the ointment? Is it not only Japanese, but Dominion competition that annoys our capitalist visitors? W e hear plenty of the scientific reorganisation of British industry. accounts being cabled every week about it, though not, apparently, for our instruction, hut merely for our admiration. This Bill is designed to introduce science into New Zealand industry, and surely it is asking a lot for thc satisfaction of oversea interests to request that we leave them a monopoly of scientific industry, Neither organisation nor taxation here relating to industry pleases these visitors. They

forget, however. that tor every 16s worth th e inhabitant of Britain buys from us, every New Zealander buys from Britain £8 Us 9d worth. Lord Elibank has found fault with Canada. Jf> however, he wants a genuine ballyhoo, he ought to go across the Tasman and tell Australians their industrial policy is unsatisfactory. It is far moi’e self-reli-ant and advanced than ours. No doubt, Lord Elibank reckons a threat would there obtain far less of a hearing than it does here, eleven in Canada. Per head, New Zealanders buy from Britain three times more than Canadians, and twice as much as Australians, It we produced more and imported l ess w e could employ more people. That is a conclusion the visitors might not wish to see this countrv drawing, but they are a bit late in the field. Tt might bo said thev are viewing the matter politically, as well ns economically but whichever way it is then admonition just shows what use some outside capitalists have for New Zealand.