AUSTRALIA WILL NOT BARTER

Press, Volume LXXII, Issue 21973, 23 December 1936, Page 9

AUSTRALIA WILL NOT BARTER

TRADE NEGOTIATIONS WITH GERMANY EFFECT ON MANUFACTURING INDUSTRIES (UNITED I’HESS ASSOCIATION— COTVRIGHT.) (Received December 22, 11.40 p.m.) SYDNEY, December 22. The Canberra correspondent of the “Sun” says that, in the negotiations now in progress between Australia and Germany for a trade treaty, Australia will not countenance barter arrangements. - This was officially stated to-ciay. The Government takes the view that such an arrangement is impracticable, and would react to the disadvantage of Australian manufacturing industries. Furthermore, it Australia agreed to barter wool with Germany on a pound for pound sterling basis, all other wool-buying countries would demand similar treatment. This would mean either that Australia would have left on her hands 60 to 70 per cent, of unsold wool, or would have to close down or cripple half her secondary industries. REPORT UNCONFIRMED GERMAN MISSION TO LONDON LONDON, December 21. Dominion representatives are puzzled over the “Daily Hcialds story that a German economic mission visited London last week seeking a basis for barter trade with the Dominions. At Australia House the Agent-General stated that although for a long time various barter proposals had come from Germany, chiefly from private firms, they had not heard of the present move. Even the German Embassy was unable to confirm the report.