STANDARD OF LIVING

Wairarapa Times-Age, 14 July 1939, Page 5

STANDARD OF LIVING

MR LEE ON OVERSEA PRICES SELECTION OF IMPORTS DEFENDED. SOME TALK OF “FINANCIAL GANGSTERS.” (By Telegraph—Press Association J WELLINGTON, This Day. The Government’s policy of import selection and exchange control was defended by Mr J. A. Lee (Government, Grey Lynn) during the Address-in-Reply debate in the House of Representatives last night. Mr Lee said that the Government repudiated a policy which made the standard of living of the people depend on overseas prices.

“The Labour Government refuses to base the welfare of New Zealand on the- vagaries of overseas prices,” Mr Lee said. He said that the modern Shylock wanted money, -but he would not have mutton or beef. “Because of the misery occasioned during period of gluts the Labour Government has set out to have a policy of exchange control and import selection,” Mr Lee said. “Members have referred to the fact that I am reputed to have written a letter. They quoted from that letter, which is in favour of import selection and exchange control. Are we then to understand that the members opposite are in favour of these?

Mr Forbes (Opposition, Hurtinui): “No, but we saw them coming through.”

Mr Lee: “We want it because, in this problem of building a nation, we must be able to fashion all those industries native to New Zealand.”

Mr Lee said that through this policy industries were being established. Today for the first time technicians were flocking to New Zealand. There was not much room for the general labourer from overseas, but for every technician who came in there was work for a general labourer. There might be some difficulties in the early stages of introducing a policy of import selection and exchange control, but there would be no shortage of necessities in New Zealand. Some luxuries might be in short supply, but they must be replaced by others. The people would not, however, go short of bread, meat and butter.

Discussing the visit to London of the Minister of Finance, Mr Lee said that present problems were mainly the accumulated problems of past Governments who refused to have a financial policy that would enable New Zealand industry to expand. “We are asked to believe that New Zealand, wealthier" than ever before, should go into liquidation at the instigation of some friend of the members opposite. I am ashamed,” Mr Lee added. “We will defend the people of New Zealand even against the bondholders who raided the sterling funds to which they were not entitled. The external funds belonged to the people of New Zealand, not to a few gangsters.”