RECIPROCAL TRADE

Poverty Bay Herald, Volume LII, Issue 17158, 7 October 1926, Page 8

RECIPROCAL TRADE

ECONOMIC EFFECT ON N.Z. ENGLISH GOODS BETTER VALUE i "Buy English goods lest we perish," formed the subject of an address bv Mr. L. A. Edwards, of Wellington, "at a meeting of the Palmerston North Lunch Club. Mr. J. 'J'. Bosworth occupied the chair. "This matter is nearly always approaching from a sentimental or "patriotic aspect," said the speaker, "but I would like to address myself to the subject from an economic standpoint and from the point of view of New Zealand. The purchasing of goods from the British Isles is essential, as if this is not done then England must fail, and with her New Zealand." He went on to say that this country was too far from the. markets for it to compete with other countries in the matter of secondary industries, so that it would be many years before New Zealand could become a manufacturing country of note. The only way to increase our wealth was to export our surplus and import English goods in return—to be an importing country due attention must also be paid to exporting. .As regards export, there were tariff walls facing New Zealand at every turn, so that the only market open "to us was the- English market. England bought 80 per cent, of our products and in return no bought from the Old Country less than 50 per cent., which left a trade balance of more than 30' per cent, against us. Mr. Edwards proceeded to state that as a result of the war New Zealand Iliad acquired the habit of purchasing from other countries in preference to England, and by means of very clever advertising and insidious propaganda the United States were educating the countries of the world, to look .to that republic for their goods. We in New Zealand to-day bought all manner <.f goods with, little regard to their origin, when those products could have been supplied at a cheaper price and,greater quality by England, Hie effect on New Zealand of her trade with other countries and the lack of reciprocity in this connection was then shown, and the speaker endeavored to make clear the lac! that this country was beiue starved because of the balance of trade which was against her. When the businessmen complained of financial stringency in the community and depression of trade, it did not occur to him to ask to what degree he was personally responsible for the conditions obtaining. 'New Zealand exists purely and Soleiy while the Union Jack flies," said the speaker, in stressing the importance of England's navy, upon which she depended so vitally for her supremacy. It was the duty of New Zealand, he said, to purchase from the Old Country and provide her with the sinews of war. England,, he declared, did not know now to produce a medium article, aiming always at the highest quality, with the result that English goods offered better value than those of any other country. At the conclusion of his address, the speaker was accorded a vote of thanks.