TARIFFS AND WAR DEBTS

Otago Witness, Issue 4085, 28 June 1932, Page 31

TARIFFS AND WAR DEBTS

ANGLO-AMERICAN RELATIONS AN UNDERSTANDING ESSENTIAL. AUCKLAND, June 20. The United States representative of the New Zealand Meat Board, Mr Alfred 11. Benjamin, who arrived by the Monterey, expressed the opinion that the American people were not ready for the cancellation of war debts. He said a 10 years’ moratorium was being advocated by the Democratic Party, which hoped to make a clean sweep at the elections in November. If America was to remain on the gold standard she must let down her tariff walls. The Hawley-Smoot tariff had been disastrous, and already it was predicted that Senator Smoot would lose his seat. There could be no imports of meat until the tariff was amended, and, even after amendment, the success of New Zealand meat depended on its being under the control of the Meat Board. Dumping such as had occurred must not be permitted. He expressed the opinion that there would be no increase in wool values until European conditions were settled. In America only 15 per cent, of the factories were working, and they had 100,000,0001 b of raw wool on hand, and the new clip was 375,000,0001 b. Finally, he expressed the opinion that the Ottawa Conference could not be a success without America being in the picture. Britain and America wero the only two nations keeping the world from disruption and collapse, and there must be an understanding between them to restore confidence in the world.