TRADE WITH BRITAIN

New Zealand Herald, Volume LXXI, Issue 21855, 18 July 1934, Page 15

TRADE WITH BRITAIN

Sir, —Can it be contested that the farmer in .-Britain is menaced by deliberately depreciated currencies, and that the British Minister of Agriculture proposes to take the only possible means to defend him? The policy of subsidising pastoral industries (to increase production) with a weapon that militates against British exports while pouring into that country ever-increas-ing' quantities of produce must defeat its object. Mr. Coates in advocating acceptance of quotas must have seen in it a corollary of his action—an inevitable consequence. New Zealand, with the supreme chance of maintaining her identity and reputation, is being submerged in Australia's status for a phantom of financial advantage. The collapse of primary industries was a turnip ghost, for production was growing year by year. That the farmer should be assisted few dispute, but the form that assistance has taken here involves consequences with no finality in view. It would be interesting if our exporters' representatives could make a plea for spedial treatment in return for a rate of exchange enabling British manufacturers to resume export to us of goods now forced off our market by prohibitive cost. E. L. Reed.