COTTON GOODS

Taranaki Daily News, 19 January 1933, Page 14

COTTON GOODS

SUGGESTION BY ENGLISHMAN. ' . EFFECT ON UNEMPLOYMENT. - Ths suggestion that there were -great possibilities in the future for the importation of cotton piece goods into New Zealand was made to a representative of the Christchurch Times by Mr. J. L. Tattersail, formerly a director of the Lancashire Cotton Corporation, LtcL, one of the largest companies, of its kind, in Great Britain, who is at-present visiting the South Island. ...... “It is pleasant to me to hear that wool prices ’ are improving in New Zealand, and that you’ are manufacturing some of your own wool into clothes ; for your own people,” he remarked. “I understand that only a comparatively small quantity of cotton goods is made up in. New Zealand. What a golden opportunity for the Lancashire mills to sell their products to New Zealand! .Why should not New Zealand allow cotton piece goods to enter free, of Customs duties in exchange for her produce, the best in the world?” Mr. Tattersail said that this would hot involve the removal of any duties on made-up imported goods. It meant merely that the cotton cloths would be imported and made up here. It wouldhelp greatly to solve the unemployment problem, the, said. . . ' j: Discussing progress in the Dominion, Mr. Tattersail said: “I am astounded at the great strides that , have been made in New Zealand in so short a time in bringing the amenities of the best civilisation to the great mass of, the people. In England it took more than 900 years to bring the people of the .town and of the country to their present ConditionNew Zealand, in less than 90 years,’seems to have achieved results more satisfactory than has England. “One wonders,” Mr. Tattersail continued, “whether-New Zealand will lead the world in founding a State bank to assist in settling in your Dominion the financial problems that are at present troubling the whole world. ■ I do not know of the position here, but I do know that in England the banks have, in good times, advanced money too freely, with a result that to-day the basic industries of Great Britain are unable to pay the heavy interest charges.” Mr. Tattersail was responsible for the formation of the Lancashire .Cotton Corporation, a £15,000,000 concern. The Bank of England itself assisted the formation of this company by persuading financial houses to lend it the sum of £2,000,000. ;■/,