NEW TARIFFS

Manawatu Standard, Volume L, Issue 110, 5 April 1930, Page 9

NEW TARIFFS

CONCERN IN LONDON. IF BRITAIN CEASED TO BUY. DISMAY IN SHIPPING CIRCLES. (United Press Association—By Electric Telegraph.—Copyright.) Received April 6, 10.50 a.m. SYDNEY, April 4. With the announcement of the tariff proposals, local manufacturers claim that Australia is on the threshold of an era of prosperity similar to the boom that followed when like action was adopted in the United States about 60 years ago. ; The opponents of tho tariff point out many anomalies and predict greater Unemployment and trade depression. Shipping men regard the new tariff with dismay. It is stated that there is bound ■ to be a serious diminution of cargo from the United Kingdom, and ballast will have to be carried. It is definitely stated that the Orient and P. and 0. companies will maintain their existing fortnightly services owing to being bound by mail contracts. It is highly probable that a number .of tramp steamers will no longer come to Australia owing to lack of cargo. ' . , TWO TO A BARGAIN. BLOW TO BRITISH TRADE. LONDON, April 4. There is much comment, in the newspapers relative to the new Australian tariff schedule. The Daily Chronicle says: “The Australian -'tariff proposals must'' inflict a heavy blow to British trade just when it needs help. While Australia’s new policy is maintained, it will be a waste of breath to talk to . the Commonwealth about Empire free The Daily News says: “It takes two to make a bargain. If Australia will not buy, we may, with the best will in the world find ourselves in a position in which we simply cannot buy.” The Daiky Telegraph describes ihe tariff as ‘probably the most dramatic and most sudden stroke in modern economic history. Obviously the result must be for a time gravely restrict Empire trade by reducing Australia’s imports. The situation heed not have arisen in the present aggravated form if there had been in the past close economic consultation and co-operation between Great Britain and the Commonwealth and Britain would not have been faced as now with the tenffiorary loss of a- great slice of her Australian trade. That is why we say that the moral in the unpleasant news from Canberra is' that there should be a getting together, so as to turn this misfortune to the best possible use.” . There- was something like consternation in business circles when the news relative to the tariff was published. Mr Fenton, Federal Minister- of Customs, and Australian delegate to the Naval Conference, stated m an interview that Mr Scullin’s announcement increasing the tariff was not connected with the Government’s general tariff p°li°y- “It is an absolutely temporary measure, designed to readjust Australia’s adverse- trade balance,” added Mr Fenton. . •' ARTICLES PROHIBITED. "SYDNEY, April 4. The Commonwealth Government has issued a proclamation totally prohibiting the importation of furs, skins, certain articles of wearing apparel, also various kinds of agricultural machinery, radio sets, petrol pumps, and dried fruits, while in rationed articles are ale, porter, wines and cigarettes. The sections to which partial prohibition and the 50 per cent, increase in duties applies includes motor-cycles and frames, and motor-cars and chassis. The new rates do not apply to goods in bond or shipped from an oversea port before to-day. Large manufacturers here are of the opinion that the new tariff will result in lower prices for all goods protected. One firm of implement -makers already has' announoed a five per cent, reduction in farming and agricultural machinery. Many importers, however, who placed orders overseas months ago for delivery in the winter have been placed in a most embarrasing position. Usually a sensitive barometer to any change in the commercial and financial outlook, the Stock Exchange gave no appreciable reaction to-day to tho new restrictive < tariff schedule. The" view is held that the Government will have to resort to direct taxation to compensate for the loss of revenue us a result of the curtailment of imports. POWER OVER TRADE AND COMMERCE. PRIME MINISTER’S PROPOSAL. Received April 5, 10.30 a.m. ' CANBERRA, April 5. In addition to the present referendum proposals now before the House of Representatives, which seek to give the Government power to alter the constitution, the Prime Minister has launched a proposal giving the Commonwealth complete powers over trade and commerce. " /