MR. HAMILTON'S SPEECH

New Zealand Herald, Volume LXXV, Issue 23060, 10 June 1938, Page 15

MR. HAMILTON'S SPEECH

Sir, —Your leading article in Tuesday's Herald dealing with Mr. Hamilton's speech omits all reference to Mr. Hamilton's exposition of the "compensated price" for dairy produce, a matter of vital interest to farmers in ' this province. Your leading article says Sir. Hamilton is a realist, as well as an idealist; but there was nothing realistic about his exposition of the compensated price. Let me quote from your report of Mr. Hamilton's speech: ''Under a compensated price the Government's first duty would be to regulate internal costs or prices so that farmers who had to sell their produce against world competition would not have too great a portion of their gross returns eaten up in costs. The second duty would be to legislate so that farmers who had to meet world competition would be placed on a competitive basis with other industries." Yes! but just by what manner of regulation and legislation does Mr. Hamilton propose to do this P If world prices drop considerably, are farm labourers' wages to be reduced, and, if so, who is going to do the work? Then, as to merchandise required for farms, in a similar event, is the legislation to be such that the farmer can purchase it at a lower cost than the city dweller P If not, how are his "costs" going to be reduced by "regulation" and "legislation"? Now is the time farmers and others want to know, not after the election. You also refer to Mr. Hamilton's insistence on striking and maintaining a correct balance between the unit of money and its purchasing power: "In other words, the value of money should be kept stable and constant. No doubt, but how is Mr. Hamilton going to accomplish this, particularly seeing that the National Party appears to bo definitely wedded to the old monetary system of private control of currency and credit, under which money has never been "stable and constant" ? As a Liberal I would much like Mr. Hamilton's, or his party's, answer to these queries. Liberal.