NEEDS OF HOME PRODUCERS

Timaru Herald, Volume CXXXVII, Issue 19806, 23 May 1934, Page 9

NEEDS OF HOME PRODUCERS

DIFFICULT PROBLEM OF RESTRICTIONS

CITY INTERESTS STRONGLY ANTAGONISTIC United Press Association—By Electric Telegraph—Copyright (Received May 22, 7.10 p.m.) LONDON, May 22. The special correspondent of “The Daily Telegraph,” reiterating the plight of the British meat producers 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 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 the dairy farmers. The second course, though assuring remunerative prices to, the Home producers and cheap meat to the consumers, leaves the Dominions to sink or swim in an unregulated market, in which the prices might drop to any level. Ministers will therefore continue to urge the Dominions to accept the regulation scheme, guaranteeing them an expanding share of the British market and remunerative prices. The Ministers refuse to subscribe to the argument that there can be further drastic cuts in the foreign imports, to make way for the growing Dominion supplies, on the ground that this would jeopardise our own manufacturers’ foreign trade.” The political correspondent of “The Daily Herald” says: “The city is mobilising its strength to defeat the policy of Mr W. E. Elliot (Minister of Agriculture) of additional quota restrictions on the Argentine and Dominion meat. Powerful representations have been made to Mr Neville Chamberlain (Chancellor of the Exchequer) and Mr Walter Runciman (president of the Board of Trade) that the quota policy endangers interest payments on British investments in Australia, New Zealand and Argentine, totalling £1,000.000,000. To carry out his bargain with the farmers, Mr Elliot must overcome the City’s objections, plus those of the Dominions. Mr Elliot wants to reduce the Argentine meat import by 10 per cent., but this entails a corresponding cut in the Dominion imports and, being repulsed by both sides, the Argentine tells Mr Elliot, that if she is forced to make a 10 per cent, cut, she will make a corresponding reduction in the transfer payments to Britain. The controversy | is rousing much bad blood in all directions. There is trouble ahead for Mr Elliot.”