HEAVY IMPORTATIONS

Poverty Bay Herald, Volume LXV, Issue 19803, 3 December 1938, Page 13

HEAVY IMPORTATIONS

DRAIN ON LONDON FUNDS MANUFACTURERS’ TALK The position created in New Zealand by the reported transfer of fund: iverseas, and what was described a; iver-importation of goods with the consequent ellect on sterling funds it London, were discussed at the annua conference of the New Zealani Manufacturers’ Federation in Welling .on. Motions urging a restriction o imports of consumer goods of tlu rind thpt could be manufactured ii he Dominion were tabled, but did no. neet with unanimous support. / .inal motion submitted on this ques ion was defeated on the voices.

Mr. S. L. Wright (Christchurch > noved the following motion:—Tha. .his conference deplores the action o :omc people in transferring funds >verseas; and, in view of the diffi•ulties confronting the Dominion a jrcsent because of this and the over importation of gods, this conference urges the Government immediately tc lake steps to control the situation am restrain such imports of consume; ;oods as ca:\ well be manufacturern the Dohflnion. Danger to Industry

"The transfer of funds overseas i; mdangering the whole fabric of tin Dominion, and the over-importation o goods is in the same category," said vlr. Wright, T feel we shoulo itrengthen the hand of the Government by letting it understand that we .hink it should take steps to briip things under control. Besides being manufacturers we are also large imDorters of raw material. Therefore 1 think v/e should emphasise that imports of consumer goods should be .•estricted. That would reduce the drain on our London funds and stimulate the demand for our locallymanufactured goods.” Caution Advocated "It is very easy to stress the obvious, and we should always accept the obvious with a great deal of reserve,’ -:aid Mr. D. Henry (Auckland) Speakers have assumed that all the money in Now Zealand has been made in New Zealand, but a great deal oJ the money used in New Zealand has been brought into this country. 1 investors have sent money here To investment, are you going to blame them for taking their money some where else?”

The retiring president, Mr. J.' T. -.pears: 1 would like to set; the resolution substantially confined to consumer goods. Mr. Wright submitted an amendment of his motion as follows: “In view of the difficulties confronting the Dominion at present because o the over-importation of goods, this conference urges the Government immediately to take steps to control tin situation and restrict such imports o' consumer goods as can well be manufactured in the Dominion.”

Further opposition to the motion and amendment was expressed, and consideration of the subject was deferred. On the resumption Mr. Wright submitted the following motion: That as the economic problems at present confronting the Dominion—particularly the position o! the balance of funds available in London —indicate the necessity for restricting or regulating importations, the federation welcomes the indication given by the Minister of Industries and Commerce that the Government proposes to take steps to deal with the situation. It wishes t< record i? opinion that such steps as may be decided upon should be directed tdward restriction of imports of consumer goods of the kind that can be manufactured within the Dominion.

, This motion was lost on the voices