TRADE AGREEMENTS

Manawatu Standard, Volume LI, Issue 198, 23 July 1931, Page 7

TRADE AGREEMENTS

CANADA AND AUSTRALIA. VALUE OF TREATY. STATEMENT BY PRIME MINISTER. (United Press Association—By Electric Telegraph .■ —Copyright.) Received July 23, 11.30 a.m. OTTAWA, July 22. Describing it as the first step toward the development of Empire trade on sound lines, Mr R. B. Bennett, the Prime Minister, to-day introduced in the House of Commons the second reading of the Australian trade agreement. Certain principles had been kept in mind, Mr Bennett said, and it was realised that Australia produced goods of a nature Canada must import, and vice versa. The agreement predicated throughout that there must be mutual advantage. If the treaty did not benefit both countries it was of little value.

OPPOSITION LEADER. mr Mackenzie king’s CRITICISM. Received July 23, 10.10 a.m. OTTAWA, July 22. Expressing doubt regarding the effectiveness of the trade treaty with Australia, Mr Macxenzie King, Leader of the Opposition, made a charge in the House of Commons to-day that the pact amounted to nothing. The British preference of 40 per cent, in Australia was prohibitive to Canada, he said. “Canadian goods will have a hard time getting into that market,” stated Mr King. Australia’s depreciated currency 3. os another big factor. It was even possible that Canada might have to advance credits. The treaty’s value would be judged best by the trade returns. AUSTRALIAN BILL. Received Julv 23. 9.45 a.m. CANBERRA, July 23. The hill giving effect to the Canadian trade treaty passed the third reading in the Senate last night.