CHANGING OPINION

Hokitika Guardian, 1 March 1932, Page 6

CHANGING OPINION

U.S.A. AND TARIFF WALLS. “GET GOODS MOVING.” WELLINGTON, Mar. 1. “Yes, I know America is the home of tariff's, but you would be amazed at the big change of opinion that is coming over the country. The mental attitude is changing very rapidly, but to get is translated into political action is a very slow process,” said Air. J. D. Mooney, president of the General Motors Export Corporation, New York, who paid a brief vist to Wellington yesterday. Mr Mooney was the principal member of a party of General Motors executive officers which arrived at Auckland on Saturday morning by the Mariposa, and which chartered a special train for- a hurried visit to Wellington.

In a press interview, Mr Mooney expressed himself very strongly against tariff walls , and other restrictions which, he said, were crippling world trade to-day. He spoke ol the present stagnation oi trade and the clogging of the wheels of Indus-, try, and was definitely of the opinion that the sooner these restrictions were removed the sooner would all nations enjoy their former prosperity.

CREDIT FOLLOWS TRADE. ‘Stop the movement of goods, ana you will stop credit,” Mr Mooney said. “It is all. very well to talk about credit and confidence, but the position gets down to one point: “Get the goods moving and you will have all the credit you want. Bankers always have credit for moving goods, but credit freezes up when you bind goods up.” In America, Mr Mooney continued, there was a very strong national consciousness growing in this connection. Everybody seemed to be agreed that they simply must remove these restrictions, and take means to stimulate trade instead of strangling it. SIMPLY FUNDAMENTALS.

It only political, industrial, and commercial interests would become more acutely aware of some, of these simple fundamentals,, which the economists bad been long emphasising, then Mr Mooney thought, a decided improvement would he observed in a verv short while.

In America, also, there appeared to be a growing opinion in favour of. re-, ciprocal of bi-lateral trade agreements between different countries. Too much notice had been taken in the past of the producer and not the consumer, when tariff and other restrictions had been framed, and there was no doubt that in the future legislators would t lfaV4 to pay more attention to the balance between producer and consumer. As to the operations of General Motors in New Zealand, Mr Mooney said that they had invested a considerable amount of capital here, and things at present were a little difficult. However the company bad complete confidence in New Zealand, and not the slightest intention of giving up operations.