BRITISH COMMERCE

Greymouth Evening Star, 12 May 1933, Page 5

BRITISH COMMERCE

AGRICULTURAL AGREEMENTS. [by CABLE —PRESS ASSN. —COPYRIGHT.] LONDON, May 11In the House of Commons', Major W. Elliot, replying to a question, said that when Britain entered the World Economic Conference she would defend the actions she had taken to regulate her supplies by means of the quota system. He was certain that the conference would approve of planning in preference to an anarchic scramble. He said that Denmark’s butter quota with Britain maintained the principle of the Home producer first, the Dominion producer second', . and the foreign producer third. Neither agreement made showed antagonism to the increasing Dominion imports, but the market could not stand the- supplies now being hurled at it. There were at present unrestricted imports of the Dominions’ butter and cheese. Consequently the butter price was falling rapidly. The stocks of Home cheese were so heavy that it was impossible to say whether the situation could be saved. It was imperative to seek a higher price, even by the restriction of imports or, if necessary, by the restriction of production. The Government’s long-range policy, enshrined in the Agricultural Marketing Bill and subsequent measures, was sound. He believed that other countries would ultimately have to follow the same line. He denied every one of Mr Leopold Amery’s charges about the spirit of Ottawa. Major Elliot announced that if the trade agreements made were sanctioned by the Government, he would immediately consult representatives of the countries supplying milk products to Britain, with a view to arranging the restriction of these supplies. The Ottawa agreement, he added, provided that the Dominions should agree ns to access to this market. We could only deal with the Dominion? by agreement and consultation.

Sir Herbert Samuel said that Major Elliot seemed to advocate a policy of the general regulation of agricultural products in this and in every other country. With such a policy, the Government might as well withdraw from the World Conference, for on those lines its labours were bound to be futile.

ADVERSE BALANCE. RUGBY, May 10. British imports during April totalled £51,151,000. The exports amounted to £23,395,000, and the reexports to £3,538,000. The excess of imports was £24,180,000. For the past four months the imports have totalled £210,007,000, as against £246,960,000 last year. The exports have been £116,116,000, against £127,113,000 last year. The re-exports were £16,142,000 as against £20,757,000 last year.