BETTER THAN EXPECTED

Hawke's Bay Tribune, Volume XXII, Issue 258, 14 October 1932, Page 6

BETTER THAN EXPECTED

ADVANTAGES TO BRITAIN LOWERING OF HINDRANOBk STEP TO EMPIRE FREE TRAM, London, Oct 18. “The Time*,” referring to Ottawa, says: “It may be said immediately that the concessions to British industry in the Dominions’ markets are more substantial and cover a wider range of exports than generally had been anticipated. When the modified duties are effective a great step will have been taken towards free trade throughout the Empire. There can be no doubt that the agreements, taken as a whole, do constitute a lowering, not a raising, of tariff hindrances to trade.”

The “Daily Telegraph” says: “Now that the schedules are published in full the majority of British industrialists will be surprised to find the Dominious concessions as numerous and valuable as they ar.e and that Britain has secured an enormous opportunity for the export trade. The Government’s avowed intention to raise the wholesale prices of foreign meat will almost eertainly be misrepresented as a wicked attempt to make the British consumer pay more, but if the live stock industries of the world are ruined meat supplies will shrivel and then prices will soar, so that the poorest meat will become a luxury. Wholesale price* ean rise a long way without reasonable excuse for advancing retail prices.” The “Daily Mail” says: “The agreements will satisfy all but a small minority of people here who believe it is wrong to take any steps to promote trade within the Empire or benefit industry by tariff adjustments,” The “Morning Post”, while suspending detailed judgment, says that it finds substantial grounds for confirming the original impression that the Dominions concessions offer a fair return for the advantages accorded them by Britain and that the net result will be an increase in the volume not only of Empire but of world trade. RECOGNITION OF OBLIGATIONS. MB BENNETT’S ASSURANCE. Ottawa, Oct. 12. In outlining in the House of Commons the details of the trade treaties made at the Economic Conference, the Prime Minister, Mr Bennett, declared: “Canada will carry out her part under the agreements' in the spirit in which they were made, and no good Canadians will daro suggest that any Empire country will be behind u* in recognition of those obligations, aot evidenced necessarily by written word, but of every warp and woof of the agreements we have concluded.” UNITED STATES TO SUFFER. TRADE WITH CANADA AFFECTED. New York, Oct. It. The “New York Times’ ” Ottawa correspondent telegraphs stating that the publication of the details of the Canadian-United Kingdom agreements discloses that United States export* to Canada normally aggregating many hundreds of million dollars annually will be considerably reduced under the new schedules. Some 225 of 262 tariff changes are for the direct purpose of transferring part of Canada’s import trade from the United States to Britain, since they are chiefly of an industrial character where steel and iron are the basic materials.

CANADA AND NEW ZEALAND EXTENSION OF AGREEMENT Ottawa, Oct. 18. Referring to the presence of the New Zealand delegation at the Economic Conference, the Primo Minister, Mr Bennett, on Wednesday told the House of Commons that it afforded an opportunity for discussing an extension of the trade agreement between the two countries for a year. He hoped further negotiations would lead to the conclusion of another agreement for a long period. ■ “ i FIJI FIRST WITH ACTION, Suva, Oct 13. Owing to its geographical position, Fiji was the first Empire Legislaturi to pass the legislation implementing the Ottawa agreements at its meetin;, this morning. Special preference* to New Zealand, United Kingdom, Canada and Hong Kong were repealed. (I) Australia permits Fiji to export to Sydney and Melbourne about 4100 cases of bananas monthly at a duty of 2s 6d per cental instead of 8s as formerly. Other preferences wore granted according to the Ottawa agreement*.