NEW MARKETS.

Waikato Times, Volume 116, Issue 19462, 29 December 1934, Page 9

NEW MARKETS.

(To the Editor.) Sir, —Some weeks ago Mr Jessep, addressing a meeting in the Gisborne district, strongly advised the Government to lind an outlet for New Zealand produce in the United States of America, of all places in t.he world, where a policy of restriction has been In operation for some time. Recently the Hon. R. Masters announced his determination to llnd new markets in the East. In your issue of Decomber 24 is a report of the views of Colonel Cosgrave, lately Canadian Trade Commissioner at Shanghai, on the prospects of New Zealand exploiting Chinese markets. It is amusing to read the views of these well-meaning gentlemen. One cannot but admire the Nelsonian touch of putting the telescope to the blind eye to look for what does not exist. No oountry in the world generates sufficient purchasing power to meet the financial costs of its own production. Hence the absurdity of looking for new markets should be patent to all. International trade must progressively “decrease” as the • modern industrial equipment of nations expands. It is quite within the realm of possibility, owing to scientific improvements in agriculture, that Britain may become self-supporting in foodstuffs. Suppose that fresh outlets could be found for New Zealand produce, it would mean accepting goods in payment from the markets concerned, at the expense of British trade. This is in opposition to the Ottawa conception of “trade within the Empire.” Those who unthinkingly adopt the “catchcry” of “new markets" would do well to pause and consider-the full effects of such a policy, were it possible. There is no remedy in that direction. —I am, etc., R. G. YOUNG. Gordonton, December 26, 1934.