“DRASTIC AND FAR-REACHING NATURE”

Nelson Evening Mail, Volume LXXII, 7 December 1938, Page 3

“DRASTIC AND FAR-REACHING NATURE”

MR IIAMU/rOM’S COMMJ M INVERCARGILL. 6th December. * "To all those observant of the ppsi- 1 tion for the last few months some such action was inevitable,” said the Leader)

of the Opposition, Mr Hamilton, in commenting to-night on the new import regulations. "The Government's high jntepvil costs policy coupled with m lavish public works spending, was bound to bring about conditions that would compel such drastic action "The Government had three courses open to it : (1 • To raise the exchange rate; <‘J) to increase the tariff: and CD to ration imports and license export- “ The Government has chosen ti e third. Perhaps tins action suits he book. It will give the Government more power and greater control over the wealth and trade of our country. People will soon realise the drastic a id far-reaching nature of this action. It is not easy, however, to comment definitely till one see.- the full text of the nature and extern of the power taken and the method of administration ” EXCHANGE RATE NOT AFFECTED WELLINGTON. This Day. Inquiries in official quarlors tins morning elicited the information that the exchange rate w'ould not be affected by ti»e provisions in the "Cazetle” issued verterday.