WORLD TRADE

Greymouth Evening Star, 12 April 1933, Page 7

WORLD TRADE

TARIFFS AND LABOUR. [BY CABLE —PRESS ASSN. —COPYRIGHT.] WASHINGTON, April 11. Mr Hull (Secretary of State) said that the persons who remarked about foreign cheap labour throwing American workmen out of employment should debate the question with thirteen million Americans who were thrown out of employment during the operation of the highest tariffs in American history. The whole basis of trade among nations, Mr Hull said, was the mutually profitable exchange of goods. The Administration did not contemplate the destruction of any sound industry. WHEAT ESTIMATES. WASHINGTON, April 10. Confirming repeated reports of unfavourable crop conditions, the Agriculture Department estimates predict this season the lowest winter wheat yield since 1904. The present condition of the crop, based on observations on April 1, shows only 59.4 per cent, of the normal yield, estimated at 334,087,000 bushels, compared with 462,000,000 bushels actually harvested in 1932, and the 589,000,000 five year average from 1924 to 1928. WINNIPEG, April 11. Influenced by the United States crop reports, foreign buyers boosted the purchases of Canadian wheat to-day to more than a million bushels, the largest export business for some weeks. Wheat futures reacted strongly, to close one and a-half cents higher. May 52 7-8, July 54, October 55§. CANADA’S DUMPING DUTY. OTTAWA, April 11. The dumping duty on British goods, set at twelve cents a pound is applicable where the articles compete with Canadian goods.