TRADE RELATIONS

Hawke's Bay Tribune, Volume XXIII, Issue 106, 18 April 1933, Page 8

TRADE RELATIONS

COMMONWEALTH AND NEW ZEALAND. SYDNEY. April 11. The Assistant Federal Treasurer (Senator Massy Greene), who returned, to Sydney yesterday afternoon by tho Monowai, was reticent regarding the negotiations with the New Zealand Government on the question of trade iclations between the two dominions. Ho said that there had been a thorough review of existing relations, and that the utmost harmony had existed. Senator Massy Greene said that, from the little observation he had been able to make, New Zealand had yet to pass through the trough of the depression. For one thing,.New Zealand’s principal exports were better balanced than those of Australia. New Zealand’s trade position overseas was better than Australia's. She did not have any Langs about the place to blow up her credit. On tho other hand, the necessity lor the drastic action the Commonwealth had taken nearly two years ago had not been realised in New Zealand until much later. He thought also that, as in Australia, values of all agricultural lands had gone far too high. As far as he could judge, comparable land in Australia- had never reached much more than 50 per cent, of New Zealand values. The reaction from this was likely to be severe. Better prices was the way out for New Zealand, as for Australia. He thought the Dominion would emerge from the depression but her recovery might be slower than Australia’s. A great deal depended upon the course of world’s prices as they affected particular commodities.