A MEAT WAR AT OTTAWA.

Press, Volume LXVIII, Issue 20625, 15 August 1932, Page 9

A MEAT WAR AT OTTAWA.

gjjpUtE V. ARGENTINA. DOMINIONS SEEK SOME PROTECTION. BfSfJUCTION ON CHILLED BEEF URGED. - tV ELECTRIC (fceeived OTTAWA, August 13. jj, Et. Hon. S. M. Bruce unci the % OW. J- <*. «-oates had the most .-, d s y of the whole Conference. *-, **re closeted with British Minjsjfj freia 9 o'clock iu the morning $ $ fl'ilock at night. Then Mr Bruce to the golf course to take his et the ordeal. Vnt ware arc raging, as the cables 4 tt» f** % iew <is - vs have ir ' dicated > tetjgr Bruce for the first time to-night that the issue had been oarutta'iown regarding this vital comagfit*. It i» presumed, therefore, that will not be any real difficulty butter or fruit or the failure on fk Mft of Australia and New Zeaja4 to offer the concessions necessary in is agreement. fa tbii question the sigus earlier iu & week were that Britain was beflpfrj reconciled to the inevitability 41 audi quota. Now every aspect <ftk« problem is being rcdiscussed & new fervour, but with unruffled i»4Uoe&*. Australia's and New Zeaj*}'l offer* are so framed that they Hgty permit Britain to grant a quanfotire restriction on Argentine's beef without laying herself open »tl«eb»rgu that "it is an injustifii!3f jtarving of our market," because it pllS would not restrict Britain's total »e»t imports. The plan which ilftnlia and New Zealand are stil) ftii>| M the most vital factor in the Ottlfl aegotiations can be backed by suyr »oM arguments, but the strongest in "Üblcm wo get something for our Mti Wastry wo might as well have ut tome to Ottawa. If we cannot kit jonsc protection wc simply will leasable to carry'on."

A Restrictive Plan. Jsttitf that Britain's foreign meat Rjmqtf* between 70 and SO per cent. <£ tin total imports, tnc Dominions totesd that it would be perfectly wwiqiMtt for Britain to decide to of, say, 50 per cent. twteii£ agree to take 50 per cent. i if they show they gjijPjfr it. Thus all the mysterious down to this: Britain in JpttOrted 453,000 tons of Argentine Q&H beef. Will she agree to accept «J32 only 400,000 tons? This re«d figure is oniy supposition, but jpesented 50.47 per cent, of Britain's sDed beef imports. In addition, Klin in the same year imported 00,000 Wt o£ Argentine frozen beef, and tyfiQO tons of mutton aud lamb, makRJ her total import percentages from At Argentina 69.5 per cent, as comm& with 19.86 per cent, from New jWUd, 8.97 per cent, from Australia, mmM amounts from other countries. Is ft* final decision, which is expected gjfo the nest 43 hours, the 1931 glut %h*s will be made the base of a rei&inre pbn which the Dominions are ffl hopeful of achieving in spite of & present formidable difficulties. If w Argentine 's meat imported into *Wa is quantitatively restricted by jjf V* per cent., which may be near 9W« whieh the Dominions are aim> Hit, it would represent a tremendous j*f to both Australia and New Zea■Uh which both are resolutely emphaJgr Too proposal docs not in any RpW a definite restriction on the ytyports. Moreover, it leaves tho ff?* ** the full mercy of market in"JgW, but these could be modified by «*»,l»wever small. A ' 'Titanic Struggle.'' ftJjM been made plain to Britain jjgjgWt the talks that duties alone WIJPHi h*Muso the Argentine eoulc 1 *° ay toem an< * cont i nu£ yflKJta market, keeping Empire gPjjWtf and iareb prices below a for producers. JWjJtwrnrthy that although scores *PJt»I and American industrial reHgMiWs have been swarming the JJHS Warier lobbies, not a single the Argentine has made sJP>t*rae in Ottawa at any stage nmf^UMj>t -igs. This might lead to Ii that the Argentine strength of its case, inin has such huge investAmerica. The history :e will give duo perspee* nic struggle of business i. Some critics consider it should be left until at Ottawa, but it might the British delegation , seeing that the battle er as far as other faeted, giving the Dominr satisfaction over the lore reciprocal trade, » widespread belief that rreney report will grad»nndenee and release lu|at« orivate enterturn diminish unemin positively be stated i harsh words. To-day's b was merely a serious apitulatlon of the pros J the divergent views, »ey apparently was not the Conference adarc constant referee*** e«, including the ird of Trade returns, ihowing notably that high up among the »g duties on British even hinted, but between the eon« Us, that yesterday's *et, which was given to t be regarded as evi' »rs other than a quota n dissipating depression m and Xuw Zealand The fact that the '8 have cancelled their nation in two week-end lown the t?t. Lawrence 'I the second :i visit to is at Shau-iniean Falls *t Three Rivers, is clear Portance they attach to Wt Onwded Message. is discreetly »ilcnt regardW ho authorised the fol* £* communique:—"Dis-

cuesrons on dairy products, meat, and fruit aro well advanced. Mr Coates and other Dominion. Masters *re°V 2vt stant consultation with the British Ministers, and are hopeful that a most satisfactory arrangement will be made." This carefully covers the tightness of the situation, in which Mr Coates has not relaxed momentarily his efforts to put the New Zealand caso successfully.

MR COATES'S VIEW.

REVIVAL OF PRICES.

VALUE .TO NEW ZEALAND

PRODUCERS

(Received August 14th, 5.5 p.m.)

OTTAWA, August 13. The \U. Hon. J. G. Coates, commenting on the currency report, said: "It is a valuable contribution, embodying, a pronouncement by Mr Neville Chamberlain, which is of even greater significance than tirst appears. Cautiously guarded in expression, it definitely accepts the raising of prices as the object of Britain's monetary policy. Nothing can bo more valuable to New Zealand producers. The discussions leading to this report convinced mo that action will be taken to ensure a revival of prices. There is nothing in the report prejudicing Now Zealand's power to regulate her own monetary affairs. I welcome Mr Chamberlain's declaration as marking a milestone in Imperial turning away from the disastrous deflationary policv Or drift of the past two years." INTENSE ACTIVITY. DELEGATIONS DISCUSS TRADE AGREEMENTS. OTTAWA, August 12. The business of the Conference is proceeding with such intensity and earnestness that many Ministers have cancelled their week-end trips, and are determined to get things dono. The Anglo-Canadian and Anglo-South African delegations met the Canadian delegation and discussed possible bilateral arrangements with Australia, New Zealand, South Africa, the Irish Free State, India, Newfoundland, and Rhodesia. The spokesman said things wero going rather' well. lie announced that the first public speech of any delegate to Ottawa would bo made on Monday by Mr Stanley Baldwin, who will address the Canadian Club.

CANADA'S CASE. PREFERENCES FROM BRITAIN ANTICIPATED. (Received August 1-itli, 7 p.m.) OTTAWA, August 13. It is teamed from the highest Canadian source that the negotiations -with a section of British Ministers have reached an advanced stage, Britain agreeing to grant preferences to Canadian lumber, wheat, and canned iish, particularly West Coast salmon. The question of textiles may be solved by establishing a Tariff Board, for which Canadian legislation in 1931 provided. Britain will be given a free opportunity to state her case from time to time us Canadian industries go before the Board for investigation. It is noteworthy that meat was not mentionod by the Canadian authority, suggesting that this has been diverted to purely the Australian and New Zealand battle ground. STfeEL AND TIMBER. INDUSTRIAL STANDARDISATION,

(Beceived August 14th, 7 p.m.) OTTAWA, August 13,

The British and Canadian delegations again made further satisfactory progress, And the Committee on Economic. Co-operation unanimously approved the reports on industrial standardisation and co-operation. The next step refarding industrial standardisation will e the establishment of { a liaison com : ,mittee. The standards for steel and timber were chiefly discussed. There is no possibility of the Conference recommending the immediate establishment of a permanent economic secretariat. More likely a special sub-committee will meet after Ottawa to decidu whether a permanent body is necessary to watch the operation of Ottawa preferences. This special committee will also consider the future of the Empire Marketing Board and endeavour to decide whether the existing Imperial bodies should be abolished or amalgamated,

CINEMA FILMS.

MR COATES AND THE QUOTA.

(Received August 14th, 7 p.m.) OTTAWA, August 13

Owing to the pressure of Conference business and the limited time available, the Et. Hon. J. G. Coates doea not expect that far-reaching decisions on the question of films quotas and broadcasting are possible at Ottawa; but he does not regret bringing these matters be* fore the Conference, with'the eventual aim of encouraging q, greater exhibition of British films and strengthening and co-ordinating broadcasting. British Ministers endorse Mr Coatee's claims for tho success of the rilw quota. Mechanical recording of events when they occur at a time unsuitable for Dominion reception offers a new field for broadcasting. They could oven be mechanically recorded at the receiving end and rebroadeasted later. Plans along these lines, and also a closer link, jng of the great broadcasting organisations of the world, will be discussed at the Madrid conference.

PLOT ALLEGED.

IRISHMAN TO BE DEPORTED. TORONTO, August 1-'. inspector Mitchell, of the Immigration Department, concluded the hearing to-day of the case of Dan Maloue, held since Saturday in connexion wit" the reported plot on the life of Mr J, H, Thomas, and ordered Malone; to be deported at the puWie eharge.

PRICE LEVELS.

WORLD-WIDE RISE DESIRABLE.

DECLARATION AT OTTAWA

OTTAWA, August 12. The heads of the delegations adopted the Currency Committee's report, and authorised its publication. The report says.—

" (1) A world-wide rise in the general levels of wholesale prices is in the highest degree desirable. The evil of falling prices must be attacked by Government and by individual action in all cases, whether political, economic, financial, or monetary. "(2) The Governments represented at Ottawa record their conviction that international action is urgontly necessary, and announce their desire to cooperate with other nations in any practicable measures of raising wholesale prices.

"(3) In investigating the question of how to help to' raise prices, the Conference recognises that Great Britain's central position, not only among Empire countries, but in world trade and liuance, makes Great Britain a main factor in anything that can be done. Line of Policy. "The Conference therefore welcomes the following statement made by Mr Neville Chamberlain (Chaucelior of the British Exchequer);— " 'His Majesty's Government desires to sec wholesale sterling prices rise. The best condition for this would be a ihjo in gold prices. The absence of a rise in gold prices inevitably imposes limitations on what can be done for sterling. A rise in prices cannot bo effected by monetary action alone, since various other factors which have combined to bring about the depression must also be modified or removed before a remedy is assured. " "Pho British Government nevertheless recognises that an ample supply of short-term money at low rates may have a valuable influence, The Government is confident that the efforts which have successfully brought about the present favourable monetary conditions can and will, unless unforeseen difficulties arise, be continued.' "(4) The Conference recommends that the British Commonwealth should act in conformity with the policy indicated in Mr Chamberlain's statement as far as lies in their power. The primary line of action in the monetary sphere toward a rise in prices should be the creation and maintenance—within the limits of sound finance—of such conditions as will assist in the revival of enterprise in trade. Theaa conditions include low rates of inteiwt and an abundance of short-term money. The rate of interest on all the various types of loans should be kept as low as financial conditions permit. It is necessary at the sooio time that these favourable monetary conditions should be achieved, not by the inflationary creation of additional means of payment to finance public expenditure, but by an orderly monetary policy safeguarded, if the necessity should arise, by such steps as will restraint or circumscribe the scope of violent speculative movements in commodities or securities. "It must be remembered that the success of such a policy would be hampered, and might be nullUied, by failure to modify or remove important non-monetary obstacles, many of which arc international in character, and require an international remedy. The British Commonwealth should nevertheless take all steps in its powor to increase public confidence, especially in the field of businoss enterprise, and to facilitate trade.

Stability of Exchange. "(5). The Conference recognises the great importance to traders of exchange stability in as wido an aroa as possible. The complete solution of this problem must await the restoration or satisfactory working of an international standard. Meanwhile, ponding eucli a solution, the Conference has considered the possibility of achieving valuable results in two directions: — "1. By creating an area of stability amouug countries regulating their currencies in relation to sterling. "2. By avoiding wido day-to-day fluctuations between sterling and gold. "Kcgarding fluctuations between sterling and gold the Conference has noted with satisfaction that Great Britain has already established machinery aimed at preventing the wido fluctuations in sterling and gold value caused by speculative movements. Regarding the area of stability the Conference recognises the value of countries within tho British Commonwealth, whose currencies are linked with sterling, maintaining stability between their exchange rates, and the Conference looks to a rise in the general level of wholesale prices as tho most desirable means of facilitating this result. "(0) Tho Conference recognises that the ultimate aim of monetary policies should be the restoration of a satisfactory international monetary standard. Such a standard should function not merely to maintain stable exchange rates between all countries, but also to ensure the smooth and efficient working of tho machinery of international trade and finance. This postulates an international agreement among the world's great trading nations.

Different Views. "While certain States represented at Ottawa hold very different views on the question of the most desirable standard, tho Conference refrains from making any recommendation on the subject, in view of the fact that the question will shortly be discussed at an international Conference. However, there are several conditions precedent to the re-estab-lishment of any international monetary standard, the most important being;— "1. A rise in the level of commodity prices to a height more in keeping with the level of costs, including the burden of debt and other fixed, and semi-fteed charges. ... "2. The adjustment of political, econo. mical. economic, financial, and monetary factors which have caused the break-down of the gold standard in many countries, which, if not adjusted, would inevitably lead to another breakdown of whatever international standard may be adopted. . • • "The Conference emphasises that it is of the utmost importance to the future working of any international standard that international co-operation should bo secured and maintained, with a view to avoiding, as far as practicable, wido fluctuations in the purchasing power of tho standard of value."

MR BRUCE APPROVES,

VALUE OF CHEAP MONEY TO AUSTRALIA. OTTAWA, August 12. Mr y. st. Bruce (Australia) sees the importance in the currency report of tlje British Government's declaration that a rise in price levels is essential, "Great Britain in effect says the existing conditions of cheap money are the best contribution she can make towani increasing prices.'' he nays, "and her policy in the past three months has

been deliberately designed in this direction—namely, bank rate reduction, the conversion loan, and the Bank of England's policy of buying securities on the market, thus getting more money available. "It is a pretty satisfactory declaration, and can be interpreted that Great Britain will continue her present policy. It is a good starting contribution, and means much to Australia, which is faced with the position that she practically cannot pay her debts. Only the recent good seasons have pulled her through." Mr Bruce added that the policy of low interest rates had a special significanee for Australia, because it would give her a chance of converting securities shortly falling due. Mr Bruce considers that Mr Chamberlain has gone a step further than his May speech in the House of Commons. The report removes the apprehension that Groat Britain is likely to plunge back to gold before the conditions which necessi. tated her departure from it are remedied. A 'visory members of the Australian delegation declined to comment on the Currency Committee's report. Mr Piddle refused to take credit or blame for the declaration. He said: "The leader of the delegation is the man to make any comment."