The Waipukurau Press. EVERY EVENING. MONDAY, SEPTEMBER 11, 1933. THE EXCHANGE CROSS-ENTRY

Waipukurau Press, Volume XXVIII, Issue 219, 11 September 1933, Page 4

The Waipukurau Press. EVERY EVENING. MONDAY, SEPTEMBER 11, 1933. THE EXCHANGE CROSS-ENTRY

In concluding an editorial anent the note of dissatisfaction expressed by the Acting-Prime Minister as to the opposition on the part of the Press to higher exchange, the "Wellington Evening Post” observes: — “Is it expected that the Press should now remain blind to the results of the course which the Government insisted upon taking? Should it conr ceal the facts that the high exchange has brought heavy burdens upon the community and a tremendous weight on the Budget, has disturbed trade, robbed us of much goodwill in Britain, and been attended by other undesirable consequences? We cannot see that this is a part of Press duty. “The Government right or wrong” is not a policy for an intelligent democracy. We are convinced that the Coalition Government can guide the country out of the depression, and that, after all its faults, the Coalition is safer, stronger, and more representative than the Labour alternative. But we are convinced, too, that there must be radical changes in Government policy, and reorganisation of the personnel if public confidence is to be restored. The disastrous exchange depreciation must be ended and the policy recast so that trade, and industry may be encouraged without the haunting fear of what is coming next.” The fact cannot be ignored that to transfer a large sum of money from the pockets of one body of people to those of another section without discrimination as to the ability of all of the former to help the latter, and without taking into account the relative needs of all of the recipients of the subsidy thus afforded, is grossly wrong in principle. On this score we are uncompromisingly opposed to the higher exchange expediency and would, as previously stated, prefer direct subsidies to needful producers. The unfavourable reaction in England to the policy of the New Zealand Govrenment of compulsorily reducing rent and interest charges and raising the exchange rate was mentioned by Mr. L. A. Paish, his Majesty’s Trade Commissioner, during the course of an address to the Wellington Chamber of Commerce last week. He pointed out that New Zealand’s action had been the subject of widespread criticism at Home, and he himself, while in England, had had to endeavour to clear up the position. He prophesied that the present exchange rate could not be maintained, and that the importer would soon come into his own it is in many circumstances passed on again. Of course, the British exporter does not in all cases, suffer seriously from the exchange impost—it is in many instances passed on to the New Zealand people.

AN OBVIOUS INJUSTICE “The downright injustice of the Government’s attitude in taxing the women and girls of the Dominion to the extent of £750,000, and at the same time taking up an attiitude of indifference towards unemployed women and girls, is nothing short of a scandal,” is how Mrs. E. R. McCombs, a candidate for the lyttelton seat, refers to what we have long since regarded as an act of injustice in connection with our legislation governing unemployment relief. Although the “Press” holds no brief for the Labour Party, it considers that the views thus expressed are entitled to special consideration. Mrs. McCombs continued: “The fact that ) the Government has been so callous in its treatment of unemployed women, has aroused the indignation of all thinking men, including members of its own party. With regard to the problem as it affects the whole community, we have been watching over again the application of the old remedy of placing an ambulance down in the valley instead of fencing the top of the precipice, and a very inadequate ambulance it has been.”