MUCH BAD BLOOD

Taranaki Daily News, 23 May 1934, Page 7

MUCH BAD BLOOD

CONTROVERSY ON QUOTAS MEAT PRODUCERS’ PLIGHT PROTECTION FOR BRITISH IMPORT REDUCTION ASKED LONDON CITY’S OBJECTION By Telegraph—Press Assn—Copyright. Rec. 8 p.m.. London, May 22. Reiterating the plight of the British beef producers the Daily Telegraph says the Ministers are still in constant touch with the Dominions on the subject, seeking their consent to a plan to regulate supplies. If the Dominions persist in their refusal the Ministers are determined first and foremost to look after the needs of the home producer. “The Government’s choice of action lies between imposing quotas on both Dominion and foreign imports or insulating the home producer from the shock of abnormally low prices by means of price guarantees, as has been done temporarily for the benefit of dairy farmers,” add the paper. “The second course, though assuring remunerative prices to home producers and cheap meat to consumers, leaves the Dominions to sink or swim in an unregulated market in which prices might drop to any level. The Ministers will therefore continue to urge the Dominions to accept a regulation scheme, ■guaranteeing them .an expanding the share of the British market and remunerative prices. “The Ministers refuse to subscribe to the argument that there can be further drastic cuts in foreign imports to make way for growing Dominion supplies on the ground that this would jeopardise British manufacturers’ foreign trade.” The Daily Herald’s political correspondent says the city is mobilising its strength to defeat Mr. Elliot’s policy of additional quota restrictions on Argentine and Dominion meat. Powerful representations have been made to Mr. Neville Chamberlain, Chancellor of the Exchequer, and Mr. Walter Runciman that the quota policy endangers interest payments on British investments in Australia, New Zealand and Argentina totalling a thousand million pounds. “To carry out the bargain with the farmers Mr. Elliot must overcome the city’s objections, plus those of the Dominions,” the Daily Herald says. “Mr. Elliot wants to reduce Argentine meat by 1 10 per cent., but this entails a corresponding cut in Dominion imports and being repulsed by both sides. Argentina tells Mr. Elliot that if it is forced to make a 10 per cent, cut it will make a corresponding reduction in transfer payments to Britain. The controversy is rousing much bad blood in all directions. There is trouble ahead for Mr. Elliot”