RESTRICTION OF IMPORTS URGED.

Star (Christchurch), Issue 19075, 21 May 1930, Page 6

RESTRICTION OF IMPORTS URGED.

SUGGESTION IS MADE TO THE LAND AGENTS. Restriction of imports for a period of twelve months was suggested as a means of restoring the economic position of the Dominion, by Mr C. E. Jones in his presidential address to the Real Estate Institute of Canterbury and Westland last evening. “I must again refer to the motorcar, which I touched on in my last address,” said Mr Jones. “I regret to say that the habit still seems to be growing for people who do not need cars for business purposes to invest their savings in a car the}'- cannot afford. In many cases money has gone into motor-cars which should have been put into a house, and as such a purchase represents a disappearing asset the loss to the community must be colossal. Hence, if the present money stringency curtails this extravagance. at least to some extent it will not be in vain. I do not think there is any reason for pessimism, because in the last year, ending March 31, our imports have exceeded our exports bv £122.097. “The position can be righted if we restrict our imports for twelve months. We could do that, as 1 understand there are enough stocks on hand in New Zealand at the present time to last for a year. Another way in which our position would become sounder is if the Labour restrictions of the Dominion were relaxed reasonably so as to give trade a greater buoyancy.”