“NOW IS THE TIME !”

Te Awamutu Courier, Volume 53, Issue 3843, 7 December 1936, Page 8

“NOW IS THE TIME !”

SHOWING PREFERENCE FOR BRITISH GOODS. “Now as never before it is neces sary for the producers of the Dominion to exercise a definite preference for Britsh goods,” said Mr T. Currie, chairman of directors of the New Zea land Farmers’ Co-op. Distributing Co. Ltd., at. the annual meeting of shareholders in Palmerston North last Friday. "Our ambassadors are overseas negotiating trade agreements to ensure safe markets and payable returns on our produce, so surely the time is opportune for us to grant the Mother Country special preference in regard to our imports,” he said. "Great Britain takes from £35,000,000 to £40,000,000 of our total exports. It seems only reasonable that we should reciprocate by specifying British goods in making purchases. Undoubtedly the worst of the depression has passed. The revival of trade is evident in most countries, and the resultant increased prices for raw materials will greatly assist the Dominion. Although the revival is due in some measure to the world wide staggering expenditure on, and demand for, armaments, the recent conclusion of a new monetary agreement between the three leading financial centres, London, New York and Paris, is having a beneficial effect on trade generally. Provided no serious international trouble occurs one is encouraged to expect much more prosperous and buoyant times than they have been over recent years. With the increased value of exports, particularly wool, which was to be expected, the balance of trade would reflect largely in favour of the Dominion, as the following figures at September 30, in order of exports, imports and surplus or excess of exports respectively, demonstrated: 1936 56,686,762 41,672,340 15,012,422 1935 43,359,151 35,386,860 7,972,291 1934 49,340,079 28,975,000 20,365,079 While exports were up £13,000,000, imports also had increased by £6,000,000. Compared with two years ago, imports were larger by £13,000,000. Banking figures disclosed a steady drop in deposits since April, while advances were slowly increasing. Though deposits had decreased by £5,000, advances were up by nearly £l,000,000, so it could safely be assumed the money was going into trade and industry Instead of on deposit. The maintenance of the exchange rate at its present level appeared to be imperative in view of the position in other countries.