OTTAWA PROBLEMS

Hawke's Bay Tribune, Volume XXII, Issue 155, 16 June 1932, Page 8

OTTAWA PROBLEMS

EXCHANGE BONUS AUSTRALIA’S CASE. EMPIRE CURRENCY PLAN. By Telegraph—Press Assn. —Copyright. London, June 15. The Australian Press Association learns that though elaborate schemes have been worked out in preparation of Australia’s case for presentation at Ottawa, there is a danger of the whole preparatory work being ultimate.lv rendered useless. Many sets of figures have been carefully worked out envisaging the British imposition of various duties on different commodities of foreign origin in the interests of the primary producers of Australia and other dominions, whose products will be admitted to Britain free in return for increasing preferences to certian British manufacturers in the dominions; but it is understood that throughout all the calculations on Australia’s behalf it has apparently been assumed that the present 25 per cent, exchange between Britain and Australia would continue indefinitely. Ever since it has operated this exchange has had the effect of giving Australian producers a bonus of 2l> per cent, above the low world prices of commodities which have prevailed in recent months. If Ottawa were to adopt an Empire sterling currency, advocated in many influential quarters, the exchange would disappear. In such event Australian producers might be landed in an even worse plight than at present. They might possibly, for example, receive a 10 or 121, even 15, per cent, advantage as against foreign producers, yet lose or the deal through the disappearance of the present exenangu. MR COATES AND OTTAWA. STILL CONSIDERING QUESTION. Wellington, June 15. Questioned concerning the personnel ox the deputation to Ottawa, the Prime Minister said that he thought Mr Coates would go to Ottawa, al though h> knew he was considering tr.c question.