TRADE BARRIERS

New Zealand Herald, Volume LXX, Issue 21520, 17 June 1933, Page 11

TRADE BARRIERS

BUIiDEN OF DEBTS NEW ZEALAND VIEWPOINT EXPORTS AND PRODUCTION LIMITATION OPPOSED By Telegraph—Press Association—Copyright (Received Juno lfi. 5.5 p.m.) LONDON, June 15 After Mr. Mac Donald had announced the names of the chairmen of committees at the Economic Conference today, Mr. G. W. Forbes (New Zealand) spoke, the other delegates giving Aim a cordial welcome. The Dominion Prime Minister, who was the last to address the plenary session, said lie had been particularly impressed by tin? speech of Mr. Ndvilln Chamberlain, whoso suggested measures for improvement of trade and monetary relations, New Zealand would do her utmost to support as a practical basis for co-operative action toward general recovery. Unless commodity prices wore so raised as substantially to reduce the real burden existing, debts must be generally scaled down. That might, indeed, be necessary in addition to raising price levels. Though the adjustment of debts must bo a question for consideration mainly by tho parties and countries immediately concerned, the problem was of such pressing general concern as to warrant the consideration of the conference.

Mr. Forbes urged the conference to deal equitably- with shipping conditions, particularly the right of ships, without discrimination as to nationality, to compete in trade which was not merely local and coastwise. Referring to the quantitative regulation of trade, Mr. Forbes said producers ii} New Zealand disapproved of the limitation of exports or production. Instead, they hoped for' a removal of barriers, and a restoration of purchasing power to enable increased supplies to bo absorbed, in which connection-tho conference should concentrate on securing an expansion of consumption. Mr. Forbes maintained that excessive debt charges must be included in any adequate list of trade obstructions. The Daily Telegraph remarks:—"Tho reluctance of Mr. Forbes to agree to a limitation either of exports oc production is natural, but regulation is in the very air of our times." DOMINION DELEGATES NEWS ON WAY HOME DAILY WIRELESS MESSAGE [BY TELEGRAPH —PRESS ASSOCIATION] WELLINGTON, Friday Throughout the voyage to London of the New Zealand delegation to the Economic Conference the members were kept informed of affairs in the Dominion by a daily wireless message. The Postmaster-General, the Hon. A. Hamilton, said this evening that adequate arrangements had been made to keep Mr. Forbes and Mr. Masters in touch with New Zealand news. The Rangitata, by which the party travelled, is equipped with a short-wave installation enabling two .way communication to be maintained.