THE NEW TARIFF

New Zealand Times, Volume XLVII, Issue 10963, 27 July 1921, Page 3

THE NEW TARIFF

PROPOSED REVISION BOUNTIES PREFERRED TO HIGH PROTECTIVE WALE. A FARMERS' WARNING. Warnings respecting the tariff revision which is proposed weife uttered yesterday at the Farmers' Union conference by the president of the union, Mr G. W. Eeadley. In the course of his reference to the subject Mr Leadley said: — “There is at present, and has been for some time in existence a Commission .appointed by*the Government for the purpose of taking evidence upon the question of the Customs tariff, and of making recommendation thereupon to the Government. The Commissioners haye been 'itinerating' through the Dominion, taking evidence in the chief centres, and are to report to the Government on August 31st. Some of us know what the order of reference given to the Commissioners was; but of course that cannot be disclosed.

MORE PROTECTION. 'T fear that insufficient advantage was taken of the opportunity offered to those representing the farming interest to give evidence before the Commission. Some evidence was given, here and elsewhere; but I fear that 'the evidence given by those representing the farmers will not compare, in volume at any rate, with that given by those representing the industrial, the commercial, and the manufacturing and importing interests. A determined attempt has been made by ! certain , gentlemen representing the interests named, to influence revision of the Customs tariff in the direction of more protection. They have made no secret of the fact that they are out for what they call 'whole-souled-high-protection/ How high tbig may be we cannot know, but there is a current rumour that they have asked for an increase up to 50 per cent, on some classes of goods in which they are interested. IS IT NECESSARY? . “What this will mean to the rest of the public we can well imagine, if by any misfortune it should be granted. Regarding this matter the questions arise: Firstly, is it necessary? and secondly, is it politic? With regard to the necessity of more protection for some of our secondary industries, the facts. appear to b© against the rabid protectionists. It is a well-known fact that many of our woollen manufacturing companies have done and are doing exceedingly well, and with the great drop in the price of the raw material they should do better than. ever. The prices of their shares in the stock market prove this. Take the following as examples : Market Price

NOT DOING BADEY. ‘“This does not seem to indicate that these people are doing badly. Now that the wages rates in the Old Country arc approximating more closely to the rates paid in our Dominion, and with a practically unlimited supply of the raw materials of the best quality at command at a very reasonable price, they should be able to hold their own with any country in the world without any further protection than now is given. “With regard to the advisability of such further protection, it is instructive to find that the great preponderance of opinion in Britain amongst the leading men in trade, commerce, finance, manufacture, and shipping is distinctly and strongly opposed to Protection.

“EXERCISE GREAT VIGILANCE.” “One thing certain, we are not going to minimise our troubles in regard* to the cost of transportation of our exPorfcSj if we largely decrease the volume of our imports. While we are anxious to assist as far as possible all reasonable efforts to establish ahd maintain those industries which are necessary, and which may have a reasonable prospect of success, I for one would much prefer to see that assistance take the N form of bounties extending over a number of years, rather than Introduce high protective rates, which once fixed are so apt to become permanent. When the proper time comes it will be necessary for the Union to exercise great vigilance in this matter. We cannot, of course, tell what the recommendations of the Commission may be, but we can be assured that those who have announced their intentions to press for higher protection will b© alert and we must not let tilings go by default."

Name of Co. Paid April 27th, up. 1920. s. d. JL 6. d. Kaiapoi Woollen Mfrr. Co., Ltd. 5 0 0 10 0 0 Buyers, no sellers Mosffiel Woollen Factory Co., Ltd 3 10 0 6 17 6 Buyers, no sellers Wellington Woollen Mfg. Co., Ltd 4 10 0 9 15 0 Buyers, no sellers