PROTECTION OF INDUSTRIES

Taranaki Daily News, 29 September 1930, Page 7

PROTECTION OF INDUSTRIES

CHANGING OPINION IN ENGLAND. ATTITUDE JO NEW ZEALAND. “The most arresting circumstances that came under my notice was the almost unanimous belief in the policy of protection for the uplift of the country,” said Mr. W. R. Hayward, expresident of the Dunedin Manufacturers’ Association, who has just returned to Dunedin from a visit to the Old Country. “Even in Manchester, the former home of free trade, the majority of the business people lean toward, some system of Customs protection for industries,” said Mr. Hayward. “This was reflected in the by-elections, as those candidates who were favourable to Empire free trade or Empire preference were polling very heavily indeed, and in most cases were successful. I was also struck with the number of members of Parliament on the Conservative side who spoke straight out in favour of some system of protection for industries. It would appear that if a referendum could be taken among the manufacturers and merchants of England an overwhelming majority would ■ vote against free trade.”, Mr. Hayward also touched briefly on questions affecting New Zealand’s credit abroad. “Although New Zealand is very popular indeed right through Britain,” he said, “and the mere statement that you enm a from New Zealand seems to ensure a wonderfully hospitable reception, the financial people look at our ever-increasing national debt with, some appreheneiri. There is a feeling that we are living upon our income and balancing accounts with borrowed money. They assert that this will be a very difficult matter to deal with, as any politician who attempts to cure it will certainly be very unpopular, and will probably commit political suicide by the mere statement of what is apparently the truth. One cannot fail to appreciate the heroic efforts of the people of the Old Land to reduce their national debt. They do not seem to object particularly to high taxation so long as they are satisfied the money is being wisely expended. “I was in the House of Commons when the famous Coal Bill was under discussion,” Mr. Hayward continued. “Generally speaking, the quality Of the speeches was rather disappointing, but there was a notable exception in Mr. Runciman (Liberal), who seemed to know his subject thoroughly, and dealt with the measure in a masterly manner. • The President of the Board of Trade (Mr. Graham) had a difficult task in dealing with Mr. Runciman’s criticism.”