TRADE AND PROSPERITY.

New Zealand Herald, Volume LXVII, Issue 20627, 28 July 1930, Page 12

TRADE AND PROSPERITY.

Sir, —Under the above caption. Mr. F. \V. Yates expresses some views which appear to rne to be worthy of general endorsement. I refer, in particular, to his advocacy of absolute free trade with the llnitwl Kinedom. and reciprocal arrangements, or failing them, no trade at all that can be done without, with uther countries, including other parts of the British Empire. We have not the population for mass production methods, our home consumption being comparatively negligible as trade goes to-day, and it is insensate folly for us to go on maintaining, and even increasing, tariffs against our best, and almost our only, customer of magnitude, and thus loading our living and production costs, crippling our power to continue to compete with our exports in Iho overseas markets Tins ever-growing burden of indirect taxation is the greatest handicap New Zealand has to bear, and the only good thing about tho latest Additions is that- they will tend to make the question of protection versus free trade, with the United Kingdom at least, what it ought to have been long ago, the foremost political issue of the day in this TJorninion. The costs of production, in bofb secondary and primary industries, are high enough already, and the purchasing power of wages little enough without our ddibpratelv adding to our disabilities. Protection is the wrong policy for this country, and the sooner we get a Government composed of men who realise this fundamental fact that better for all. T. E. McMillan.