Eastern Markets

Manawatu Times, Volume LV, Issue 7008, 18 November 1932, Page 11

Eastern Markets

To the Editor. Sir, —May I briefly comment upon the letter in your esteemed publication of this date. Firstly he says the “Bubble” is a “fact” not an allegory. I agree with him. What does ho mean when he affirms that New Zealand can never become anything but an exporting country? Glory be, that is the great aim of every country, unless they exist by taking in one another’s washing. He says pessimism is responsible for the prices of primary products on the London market. Nonsense! It is the lack of reciprocal purchasing of British products which is the principal cause. Buy more and Britain will have the means to buy more. He also states that if we had spread our exports more, we would not have the heavy burden of taxation. Ridiculous! Taxation would have gone on just the same if we had sent all our products to other markets. Instead of calling London the most competitive market in the world lie should have said the best market in the world. The proof of this is that “everybody” sends there and “everybody” is not a fool. Now to sum up Mr. Sonne's figures. YVe send every year goods valued at £31,000,000 to Britain and our exports to this market can bo doubled and absorbed according to Britain's capacity to pay the price and tho price will be as good probably as can be had nett elsewhere. Mr. Senne's figures which have been culled from the lecture given by Mr. Cortis on behalf of the proposed New Zealand Export Traders' Corporation, -Ltd., show us that the total result of three years’ effort by Australia to exploit millions of square miles and hundreds of millions of Eastern population is less than.£2,ooo,ooo per annum. This meagre result of three years’ effort speaks for itself and is poor advocacy for investors' risk. I leave these remarks for Mr. Senne to ponder over. I am, etc., Wm. ARCHER. Nov. 15, 1932.