“CHEAP AND PLENTIFUL”

Poverty Bay Herald, Volume LXIII, Issue 18961, 11 March 1936, Page 10

“CHEAP AND PLENTIFUL”

MOTTO FOR WORLD TRADE

WELLINGTON SUGGESTION

ADDRESS TO CHAM HER

(Per Press Association.)

WELLINGTON, last night

Tn his presidential .address at the annual meeting of the Wellington Chamber of Commerce this evening, Air. AL ft. C. AlcCaul said that the country could congratulate itself on successfully weathering the greatest financial storm in the present generation.

The country had every reason to lie proud of the part .played by the banks in salving the wreck caused by public and private extravagance in the past. He did not think that they could expect permanently improved conditions until international trade was restored. The policy of seif-contain-ment now followed by many nations must, inevitably result in lowering the standard of living. The object of many leading statesmen of the world appeared to he to make the world’s goods dear and scarce. Surely ‘‘cheap and plentiful” would be abetter motto.

He regarded the trade treaty with Belgium as a milestone on the road of the economic life of New Zealand, and be considered it should be .the policy of the Government to extend the usefulness of the agreement, and initiate negotiations with other highly industrialised European countries and America for the interchange of products on favourable terms. SERIOUS OBSTACLE

A very serious obstacle to such negotiations was New Zealand’s obligations under the niost-favoured-nation clause of the international treaties to which she was bound. He favoured the, Empire policy under which first consideration would be given to our own kith and kin and next to those foreign .countries who were willing to trade on mutually satisfactory terms. Foreign nations whose policy was to sell to us but not. to buy should be treated with every consideration but no favours.

Steps should be taken to encourage a steady flow of suitable immigrants to New Zealand. It was absurd that this beautiful and fruitful land should provide a livelihood for a population only equal to a large British (own. There was still time for New Zealand to choose the nationality and the type of immigrant she would like, but if she did not choose, the .choice 'bright be made for her. A hopeful feature about world conditions was the increased sense of responsibility exercised by rulers and leading industrialists in the care of working people, but modern legislation was going too far in directing and restricting the activities of the people. 'They were becoming inclined to place too much reliance on the promotion of legislation, and too little upon the cultivation and the exercise of their abilities as individuals for overcoming difficulties.