Over 10,000 Attend Protest Meeting At Hamilton

Northern Advocate, 4 December 1939, Page 6

Over 10,000 Attend Protest Meeting At Hamilton

[Special to “Northern Advocate ”] IIIVMTL'TOX, This Day. THE LARGEST AND MOST REPRESENTATIVE MEETING EVER HELD IN THE WAIKATO GATHERED AT THE CLAUDEXANDS SHOWGROUNDS TODAY TO PROTEST AGAINST REGENT LEGISLATION ENACTED BY THE GOVERNMENT, AND SEEK RELIEF FOR BUSINESS PEOPLE AND FARMERS.

Over 10.000 people attended

It was emphasised that the sole purpose of the meeting was to have certain legislation rectified to enable the ordinary business of the.community 1o be transacted, and to assist the farmers in their endeavour to increase product ion. Although increasing production was vitally necessary to help the British Empire in the war, it was pointed out that it was just as important to ensure that the national life of New Zealand was

unchanged.

“Leading- to Disaster’! <

The restriction of trade that was being brought about by import restrictions was leading to disaster. Besides the shops in Hamilton that closed at midday, the shops in Morrinsville, Matamata, Te Aroha, Te Awamutu and Otorohanga closed at noon to allow their employees the opportunity of , attending.

Mr Gainor Jackson, representing the impoi’ters, said it was essential that production costs in New Zealand should be within the ability of industry to meet, and still compete with other countries closer to their markets.

The fostering of primary production was necessary. Coincident with this there would be many opportunities for development of secondary industries. National Development *

Such development, however, should be a natural and not an artificial group forced by tariff protection, quotas and trade restrictions. Interest rates should be allowed to find their own level, with new attractions for fugitive funds to bring them back again and to keep investment capital in New Zealand while attracting funds from abroad.

Mr Jackson stated that the main responsibility for the defection of London funds was

due to the flight of capital. This flight was due to lack of confidence overseas and internally. New Zealand was no longer a remunerative field for investment.

Mr Jackson advocated a plan to increase and conserve overseas funds, and the building up of exports, which in turn would increase imports. These would result in a greater volume of trade and greater employment, and increased prospects to increase production by transferring back many of the 24,000 men at present in non-productive Public Works, and making conditions within the primary industries conducive to increased production. The London funds would also be built up by allowing interest rates to find their .market level, thus attracting capital to the Dominion.

The sterling exchange suspension notice should be repealed, as New Zealand banknotes had lost their convertability.

Public expenditure should be cut and the exchange rate should be left to the banks to be fixed at a rate justified by economic circumstances.

The import restrictions should be repealed and the rationing of credit left to the trading banks. “Not Caused by War”

“It is true that due to war conditions overseas some lines must go of? the market, but it is not the war that has made our position in New Zealand so very acute,,” said Mr B. E. Woodhams, representing the retailers. “The retailer fully realises that some form of import control and restriction is necessary at the present time, and believes the system in force is a genuine endeavour to cope with a most difficult situation, but we feel it is our duty to point out what we consider the effects will be.

“Without goods to sell, the retailer cannot keep his business at its former level, And we feel that curtailment of supplies will become so serious within a' few months that the majority of businessmen will be unable to avoid retrenching severely in all directions. Less Rigid Interpretation

“We appeal for a less rigid interpretation of the imports scheme and suggest that instead of one year's imports as the basis for issuing licenses, the average of at least two year’s total imports should be used. “Any anomalies in importing in on| year would not then be reflected. “We also suggest that licenses for various tariff items should be interchangeable, and also think that consideration should be given to the idea of allocating an amount of sterling to each retailer for each period, thus giving more latitude to the individual. “The trade wishes to know if any indication can be given as to when it will be considered the Sterling-

funds will have increased sufficiently la permit some relaxation.” Two Resolutions

Two resolutions were passed by the meeting. The first was on behalf of importers, employers, retailers and builders. It was:

“That this meeting declares that citizens of this part of the Dominion are ready and willing to co-operate with the remainder of the community on a broad, national and strictly constitutional basis in any effort that may be made to restore overseas funds, from a shortage of which the community, as a whole, must inevitably suffer. “Further, this meeting requests the Government to take steps to alleviate such of the wrongs from which the community is suffering, as can be remedied immediately, and asks the Government for an assurance that it will call a halt in its policy of deliberately controlling the whole of the ecour.mic structure of this Dominion under the guise of war emergency. The resolution on behalf of the employees was: “That this mass meeting of employees of retail businesses in the Waikato expresses its immediate concern as to their future employment, and urges the Government to modify the import control regulations.”