TIGHTENING OF BELTS

New Zealand Herald, Volume LXXVII, Issue 23817, 19 November 1940, Page 10

TIGHTENING OF BELTS

Sir, —Mr. Fraser lias assured us all that in his colleague Mr. Nash he, Mr. Fraser, has the assistance of the "100 per cent perfect man." It happened that two eminent public men in Britain had recently asked the Dominions to do all they could to restrict their imports from the Mother Country. That, exclaimed Mr. Fraser, is just what Mr. Nash has been doing for months: therefore, our policy stands completely vindicated. "Mr. Nash is proved to" be 100 per cent right!" But is lie? Is Mr. Frnsor's jubilation based on solid ground? If two men do the same thing under different conditions and for different reasons, can one of them pat himself on the back and declare himself to bo right just because the other happens to be doing tho same thing ? . . Mr. Nash introduced his restrictive import policv as a peactime measure in 1938: Captain Lyttelton seeks to introduce his idea as a wartime measure in 1940. Mr. Nash was compelled to restrict imports in order to rebuild a London balance that had been reduced almost to vanishing point. Captain Lyttelton wants us to restrict our imports so that tho burden on shipping can be reduced and so that all available men and women can be diverted from civilian to wartime production. Mr. Nash's restrictions were the direct result of the internal policy of his own Government: Captain Lyttel ton's request is due to tho aggressive and ruthless policv of the European dictatois. Mr Nash and his colleagues have been seeking all along to add to our spending power and to increase civilian consumption. Captain Lyttelton and Lord Stamp have stressed the absolute necessity for restricting civilian consump"mV. Nash took office under almost ideal conditions: the New Zealand Budget was in the happy state of balLondon funds stood high at about 40 millions: overseas prices were rising and for at least three years he had the advantage of buoyant markets. At the end of that period, howr ever, the "100 per cent perfect men' found themselves in difficulties and they wero forced to do in peacetime what Britain is now asking for as a war measure. Perhaps it was brilliant foresight that enabled Mr. Nash to sec in 1938 what Britain would need in 1940: hence the import restrictions. Another vision in 1939, and hence the petrol coupons. If Mr. Fraser finds that Mr. Nash is possessed of such remarkable foresight, might it not bo that our immortal poet Shakespeare had even greater gifts in that direction? Is it not possible that, writing some three centuries ago, ho had our Minister of Finance in mind when he made one of his characters oxclaim — I have ventured. Like little wanton hoys that swim on bladders. This many summers in a sea of crlory; But far beyond my depth. R. M. Al.gie.