Mr Nash Explains Need for Restriction Of Overseas Imports

Northern Advocate, 27 April 1939, Page 8

Mr Nash Explains Need for Restriction Of Overseas Imports

[Per Press Association. Copyright.]

WELLINGTON, This Day. A STATEMENT THAT CONSIDERATION WOULD BE GIVEN BY THE A GOVERNMENT TO THE ADMISSION INTO NEW ZEALAND, UNDER LICENSE, OF CERTAIN ITEMS LISTED AS TOTALLY PROHIBITED IN THE LATEST SCHEDULE ISSUED UNDER THE IMPORT CONTROL REGULATIONS. PROVIDED THEY COULD BE FINANCED IN A MANNER THAT WOULD NOT MEAN A DRAIN ON THE COUNTRY’S STERL ING FUNDS, WAS MADE BY THE MINISTER OF CUSTOMS, THE HON. W. NASH, IN A BROADCAST ADDRESS IN WELLINGTON LAST NIGHT,

“There are some commodities which, if people want to import them, they should accept the responsibility of finding themselves the sterling funds to pay for the goods,” Mr Nash said. He added that there were two or three items which would bo admitted provided no call was made on the sterling funds.

The Main Reason, Mr Nash said that the major circumV, stance which led to the introduction - of the present policy was the fact that | in eight months last year there had been a decline of over £21,000,000 in the stealing funds. Prom the last Monday in April. 1938, ; ; to the last Monday in December, the funds had fallen from £28,617,000 to % £6,807,000. He attributed this to three causes: persons and companies transferring overseas money that had been | left in New Zealand in anticipation of an alteration in the exchange rate; L over-importing; and what he (do- ■ scribed as the unpatriotic action of If some people in sending their funds overseas for the sake of slightly higher . interest. government’s Alternatives. To overcome the difficulty, the Government could have raised tariffs, reduced expenditure and cut wages, or • adopted the present course, he added. ■ The raising of tariff walls was con- | trary to the agreement with the United Kingdom, and the cutting of wages and retrenchment had not succeeded I before, and was, in the opinion of the | Government, too high a price to pay. P The Government’s policy provided . for the expansion of local industries. said Mr Nash, and he proposed to ask I j the Minister of Industries and Com- | merce, the Hon. D. G. Sullivan, to make public a list of new factories | that had started or were about to start. Expansion of Production. ''•The expansion of production had been organised in a splendid way by the! Ddplartment, and manufacturers | had responded equally well. Overseas manufacturers were having their goods excluded, but the Government was encouraging them to come I to New Zealand- and to make their j|f’: |. products here. However, if the Government allowed everyone to come in, the Minister conj: tinned, it would mean a greater demand on the sterling funds for plant i and material. Therefore, there was a ' committee working, and its job was to see that licenses recommended to the I' Minister for plant and equipment were ; in some accord with the quantity of goods that were required. The Minister said he would not say to the workers of the Dominion that at present there was nothing more important than production and output. If workers would do their part by increasing their output. New Zealand | could maintain the standard of living | it had to-day, and extend it to a point pi which he thought could be justified f by the resources of the Dominion. Help For The Injured. An appeal was made to local manu- \ facturers by, Mr Nash. He said he knew that a number of importers had been P hard hit, and he asked if the -manufacturers could think of any procedure

by which, to the extent that their business was increased, they 7 could pass the distributing side of their trade to the importers who had lost business. Reply to Importers.

The Minster devoted some attention to the statement issued yesterday by the Importers’ National Committee. He quoted the following passage from the statement: “But the public make a profound mistake if they think that in order to pay our ( debts the devastation in business brought about by the Government’s policy in this matter is an inevitable part of that necessity. It is nothing of the kind.” Mr Nash commented: “The position is that our sterling funds amount to a certain sum of money. After we have made provision for debts, the whole of the remainder will be available for imports. What more could we do?” The importers’ committee had also suggested that wharf workers would find there would be fewer jobs for them because ships would be bringing fewer goods.

Mr Nash’s Mission. The Minister said ships were bringing the maximum goods possible. They were bringing less finished goods and more raw materials. Mr Nash said the Government had asked him to go to England to discuss new trade procedure and the necessary defence programme. The United Kingdom, special marketing facilities and defence, had done a great deal for New Zealand, and there had to be thought of a way to reduce the impact that might come to the United Kingdom as a result of the lastest procedure. The United Kingdom was New Zealand’s best market, and her best defence. That was why he was going to England. “Though we must look after our own people first,” Mr Nash added, “we must also visualise the world. I hope the United Kingdom will accept the reasons for the Government’s policy as justifying its introduction. Mr Nash mentioned that another reason for his visit to England was to make arrangements for the redemption of the loan falling due on January 1 next year.