CONFERENCE OF FARMERS.

New Zealand Herald, Volume LXVII, Issue 20594, 19 June 1930, Page 11

CONFERENCE OF FARMERS.

BANKING POLICY CRITICISED*

EMPIRE PREFERENCE SUPPORTED*

ZKLEGBAPH. —PRESS ASSOCIAIIQ^-3 WELLINGTON. Wednesday.

A general criticism oi the poiicy Ou. the New Zealand banks was made at- the New Zealand Farmers' Union Conference to-day when an Auckland remit was considered asking that steps oe te amend the banking system to present combined action by the associated banks. The trend oi the criticism was that the Banks did not operate in tne inierfisfi of the primary producers. They were not friendly to the r»r ,,a i '-ttist? interests and their rates were too high and they were giving big profits back to their shareholders. They were also investing their prrfiiii abroad instead of giving the benefit of them to the people or New Zealand. The remit was carried. Some time was demoted to a debate ca fiscal questions. Tha effect of tariffs oa industry wis the subject of the first remit. while there were about a dozen oa the subject of greater preference to GreaS Britain, Empire preference, and the total abolition cJ: tariffs. The Auckland branch forwarded 3 remit "tha- 1 ; the conference considers thai where any industry requires assistance to enable it to become established or to campet a with unfair competition from- overseas, such assistance should be given by meanii of st subsidy, "and then only after a thorough and public "investigation of tha

The remit was carried.

The conference then argued whether the various; remits on the subject of tariffs could not be consolidated and finally a committee consisting of Messrs. Colbeck, Stuckey, Etevie and ilniiiollaxid -was elected to put. this into effect for consideration at- the next session. Subsequently the committee recommended that the following remits be submitted to the conference :

That be Great Britain, our principal customer, has no protective tariff agaiasi New Zealand products, a gradual reduction with a view to abolition should be made in the protective duties imposed against, the products of Great Britain.

That this confertnce defi.nit.ely affirms the principle of Empire preference and requests thai increased preferential duties should be imposed to encourags trade within the Empire. The two remits recommended by tha committee were adopted.