BUTTER RESTRICTIONS

New Zealand Herald, Volume LXX, Issue 21454, 30 March 1933, Page 13

BUTTER RESTRICTIONS

Sir, —There is something sinister and evil about tlio propaganda which appears to be emanating so persistently from tlio Tooley Street butter merchants for a restriction on the imports of butter from New Zealand and Australia. One does not even know just how or whence the restriction propaganda started, so astutely was tlio agitation initiated, and the Governments of the United Kingdom, Australia and New Zealand have in turn emphatically denied ever having suggested any restriction of butter imports. The conviction that the Tooley Street butter trade is the originator seems inescapable. And for what reason ? Mr. W. Goodfellow, than whom there -is no better authority on the subject, assures us that the butter supplies in store in the United Kingdom are not more than sufficient to meet trade requirements and consumption fpr two or three weeks' ahead at the most. It seems incredible, but nevertheless a fact, that the Tooley Street butter merchants should be able to put a strangle-hold on a great and vital industry and bring an important Dominion to the verge of financial collapse, and even more incredible that all concerned—Governments and people alike —should, apparently, calmly accept the situation. It seems to me that rather than allow these butter speculators to prevail, the New Zealand Government should resolutely refuse to agree to any restriction whatever, and if necessary, allow the price to fall to 60s a cwt. or even lower. We can then advise our bondholders overseas that owing to the operations of the monopoly which they permit, we are no longer able to meet our interest commitments. J. D. Gray. Matakana.