INTER-EMPIRE TRADE

Taranaki Daily News, 26 November 1934, Page 4

INTER-EMPIRE TRADE

“GET DOWN TO BUSINESS” HON. JAMES McLEOD’S ADVICE. BARGAINING BY NEW ZEALAND. PRIVILEGES; RESPONSIBILITIES. “The day has come when New Zealand has to stop flag-wagging and start bargaining,” said the Hon James McLeod, M.L.C., proposing the toast of “InterEmpire Trade” at a farewell to Mr. J. M. Smith at New Plymouth on Saturday night. “The day has come when we must use our knowledge of unbalanced trade with foreign countries as a lever—come down to tin-tacks. Individualism is going. Everybody knows that the Empire will always hold together in an emergency.” It was a peculiar feature of trade figures that all the countries of the Empire, with the exception of Great Britain, had trade balances against New Zealand, said Mr. McLeod, yet with foreign countries the exact opposite appliea. Upon this peculiar factor the difficulties of the present day largely turned. The situation was one which bristled with difficulties, but it was one which must be overcome. Perhaps a result of the recent re-organ-isation of the control of marketing and production would have a favourable effect in opening the blocked channels of trade, for it was evident that New Zealand must adopt the successful methods employed by other countries if it was to overcome its difficulties. The United States, said Mr. McLeoa, had perhaps been the first nation to begin intense nationalism, but that nation was iiow realising that its policy had been a wrong one, and it seemed possible tnat it would lower its tariff walls. If so, a lead would be given which would almost certainly be followed by European countries, and the situation would be relieved. Over a period of 10 years ending in 1932 New Zealand had purchased from Great Britain goods worth £59,000,000 more than those purchased by Denmark, and goods worth £140,000,000 more than those purchased by Russia. This knowledge must be used by the Dominion as a power in bargaining. It would not be right for Ne.z Zealand to take this state of affairs lying down. “We must meet the other fellow on his own ground,” declared Mr. McLeod, “and bargain—drive the best bargain we can. Men must go into Parliament who think along marketing and producing lines. The trade or the future will be a matter of mass negotiation. We must pull the gether, and control has now gone to the politicians. Furthermore, ■if we cannot sell all our goods on one market we must sell them on another.” Mr. H. E. Carey, replying to the same toast, said that the Empire had been built on trade and trade alone. The time had passed when Britain was the trading centre of the entire world, and the next stage of Imperial development .was the stage of true partnership. “Until now,” said Mr. Carey, “we nave had all the privileges. The time has come when we must accept the responsibilities. There must be true co-opera-tion between all the countries of the Empire and between the producers themselves. It is a great problem how to bring this about, but it is a problem which must be faced if the Empire is to continue to exist.”