Page 20 Advertisements Column 1

Press, Volume LXV, Issue 19667, 10 July 1929, Page 20

AUCTIONS. H. MATSON AND CO. HMAISON and CO. HAVE GREAT • t'LEASUKE IN CALLING THE ATiKiNTION OF ALL, MEN OX THE LAND !'U THE UNDERMENTIONED: A U 8 T RALIA'S IDE A. AMERICAN TARIFF REVISION. "GraiieiV ltcviev;," Juno 10th, 1029.) _ iir F. U. Tout, president of the Grsizicr.-. Astociation, said, an May 'jlh, that tile proiposed incrcaees of tho American tariff on wool and meat wero most serious from the viewpoint, of Australian graziers, and he trusted that the federal Government would eoe fit to make further representations to Washington. ~ "Tho proposed additional duty on wool. Mr Tout stated, "would maio for a further decline of the American purchases of Australian wool. Evidently tho United States Government ha 9 developed, or is developing, th» idea- that America, can do without our v-001, and is determined to foster its own industry at all costs—to tho American consumers. Ju.it v.-hen wo were beginning _to visualise a tig trade in Australian meat with America an additional duty of three cents per 11> ; s proposed. Meat trade authorities ara agreed that the American production of meat is falling short of local requirements, and that in the natural course of events America must import lars;o and larger quantities of moat. TJiis is whero Australia he-pea to come in. If, howenjr, tho proposed increase In tho <futy on imported meat is imposed it will be much moro difficult for n« to develop this prospective trade. The new American tariff as proposed is, however, a distinct setback." Mr Tout recalled the fact that the recent annual conference of tho Graziers' Association carried the following resolution: —"That as the United States of America has an almost prohibitive import duty on Australian wool, butter, and meat, the Commonwealth Government be urged to place a prohibitive dutv on the importation of cars, films, etc. (but excluding tractors and farm machinery) imported from America until such time as the American tariff is reduced or the trade between the two countries approximately balances." BRITAIN'S IDEA: JOHN BULL AND THE YANKEE FARMER. "The outstanding fact which is illuminated by this survey in that we cannot maintain our economio advantage, or hope fully to realise on our economic future, unless we consciously accept the principle of equilibrium, and apply it skilfully in every economic relation."—President Hoover, in a Bonort upon Recent Economical Changes in United States. Significant indeed is this declaration of policy that has been gradually evolved in the U.S. of America. Unbalanced growth between one industry and another has led to the development of inequalities in opportunities with consequential differences in result* which have become so pronounced as to create • •erioua disparity between the industrialists on the one hand and the agriculturists on tho other. Equilibrium is not possible under the present conditions. That ie exactly what of Free Trade, interpreted in the British Isles to mean free imports. Here the tariff system of Protection was tabooed, but in the State* it was hailed as the remedy for the ills of trade and adopted. The end result is much the same in the two countries, namely, the luin of agriculture. FOOD IN EXCESS IN U.S.A. In tha British Isles food cannot bo produced in sufficient quantities to feed tho people adequate«y; in tho States mora than enough ran bo grown. Yet the end result is the same aa it is here. Agriculture it in a plight in the States of America as well as in this country, tho like, of which ha* never before been known. For tha ordinary farmer, not the epecial, eharp and clever, nor he who does dealing in a small or large way, and has a farm as a basis from which to work, the business of farming is umprofit able; nay, moro, it is ruinous becautso thi vocoipU from aalea cannot pay for the neces •ary labour, together with the incidental expenses. The farmer in the U.S.A., if ho be old •nough to recall the evil* he helped to produce, or is acquainted with the story oi British agriculture during tho past sixty years, must iio-.v begin to realise what hia brother on this side of tho water felt, in consequence of the cheap food produced and Bent over hero in tho 70'3 and 80's of the last century. He is now, in turn, being ruined bj the tariff system oi self-protection in tradf just m his brother hero was and is by the tito import system—Free Trade. CONTRAST PROTECTION AND FREE TRADE. Stnti;,"s it must aeem that theso two dia* metriua:ty opposed systems of trading exist wide by nide" and uaeh hao brought, after _ti period oi years, ruin to agriculture il States as far apart as tha wide Atlantic Ocean can make* them. This result cannot but mako tho thoughtful wonder if man U not mistaken about these two systems in trading: and that, after all, neither the systom of Protection nor that of Free Trade w the true cause of this disastrous effect. Great Britain and Northern Ireland have «tood together for frao imports, the States of America, on tho contrary, for Protection of everything that can bo produced within them, and yot each is in tho like position to-day, THE PIiINOIPLH OF EQUAL TREATMENT. Tito declaration of principle enunciated by the recant Kcouomie Comuiitteo presided over by President Hoover, and quoted at the beginning, clearly visualises the cause of the plight of agriculture in each country. That cause is neither Protection nor Free Trade, but n lack of equilibrium So the balance when agriculture is on one side ami other industries ou tho other. Adjust the balance and it will not matter whether Protective or Free Trade measures been forced, for equilibrium between thd two groups o! industries will lead to all being well again. In the States an attempt will bo made, now that, in uddltion to tho British Isles, European countries are importers of food materials, to adjust the balance at the ex penae of the exporters, and to do so indirect means will have to, and maybe must, be adopted. ' A NLYV EDUCATION. There is a now factor in the situation, which is tho existence of abundance of food supplies in Canada, in Australia, other parti at our Empire, in the Argentine, and elsewhere, uud in consequence competition of a keen or Her will be aroused. It is only bj underselling that the States of America can to-day dispose of their surplus wheat and other products; and as the world market price is already too small, underselling ia out of the question except on ono condition. That condition, simply stated, is unloading the pan of the scales whioh is well overweighted, and adding what is taken away from it to the lighter and opposite pan. The other industries, if that were done, would necessarily bo compelled to disgorge, directly or indirectly, in favour o? the hungry agricultural industry. Accordingly a profft to tho agriculturists of the States can now only be obtained through a subsidy on export, and one of sufficient substance to give the farmer a margin of profit In the conduct of his business, a margin more or less equal to that obtainable in other Industrie*. In fact tho naed to strike the balance is the demand «t tho moment. In this country tho scales, similarly overweighted on one side for a long period, liave been inspected, looked at (ir« and over again, carefully pondered over, and, from time to time, most timid attempts have been made in adjustment to vain equilibrium. The process of disgorging wsn tried here a few years ago, and promptly jsiven up for economic reasons which are difficult to fathom. To-day on iu-iih-.'ct rff'icf is being tried, and, if carried mtt boldly, tho new venture is not unlikely to succeed, ending in the establishment of the iong-looked-for equilibrium. KXTKN.STON OP WORLD PRODUCTION. TTith world production of food materials extending in the new countries, and with the marvellous inventions which go to reduce the cost of transport on tho seas, it is more than probable that the initial subsidy to agriculture in the States will prove to be just the foundation of a system that will have to be added to as the difference in weights of tho two pans of the scale increases. ACTION UNDKK NEW CONDITIONS. Whether the States will make a point of maintaining an equilibrium between agriculture and other industries or not is a matter of great interest to other countries. The British Isles have, ft is believed, settled down to the work of relieving, step by step, agriculture of its burdens and so reducing indirectly the cost of production of food materials', and. at tho same time, are making all possible efforts to >".o the like in regard to tho cost of transport overseas and by rail A new race between us and the U.S.A. is about to begin, and shall we end in the position each of os is in to-day, prosperous L a ll industries e«ept agriculture! If the States adhere to the principle, so forcibly enunciated by the recent Economic Committee, and this country does the same, each adopting different means in accordance with their world position, where shall the industries he In the two countries, ,t the .nd of the same in each country, but the method of *U™lning will, it ••"». *• w *»*«•»»■ TVHEKE DOES ™^f ITISH rA * MEK - Our Ciwwi were* once r "£° e( Ls£. *!» . .... 1* ilj. !* toe Uteres to