CONTROL OF IMPORTS.

Manawatu Standard, Volume LIX, Issue 95, 22 March 1939, Page 10

CONTROL OF IMPORTS.

POSITION SETTLING DOWN. PREMIER’S VIEWS.. Per Press Association. AUCKLAND, March 22. Discussing the Government’s import control policy, the Prime Minister (lit. lion, M. J. Savage) said the position was gradually settling down. Ample provision was to be made lor the importation oi raw materials to assist industrial development. “We have to conserve our overseas credit and, therefore, want assistance of manufacturers,” said Mr Savage. “We do not desire them to order two years’ supply for 12 months’ needs.” Asked il it would be necessary to make further restrictions for the second six months, Mr Savage said he could not say definitely, but it might be possible. “Wo have done no borrowing overseas since being in office. We Intend to carry on that policy as far as we can, but if we had to borrow overseas for the supply of raw materials we would apologise to no one,” said the Prime Minister.

Mr Savage said that when the position settled down sterling funds in London would presently start to accumulate. Replying to a question, he said there had been many requests from overseas manufacturers, especially Australian, for the right to establish branches in New Zealand, but the Government had to be careful that there were not too many manufacturers of one class of goods. NEXT PERIOD’S PROCEDURE. Per Press Association. WELLINGTON, March 22. Questioned regarding the Government’s policy on import restrictions for the second six-monthly period, the Minister of Finance (Hon. W. Nash) said that efforts were being made to complete arrangements in connection with the procedure if possible before tho end of the present month.