TRADE WITH BRITAIN

Manawatu Standard, Volume LIV, Issue 148, 24 May 1934, Page 7

TRADE WITH BRITAIN

THE QUOTA DEVELOPMENTS. MR BALDWIN’S PROMISE. RELIANCE BY DOMINION. (United Press Association.—By Eleetrio Telegraph.—Copyright.) LONDON, May 23. The Daily Herald’s political correspondent says the Dominion representatives in London are taking the greatest interest in the conflict between the city and Mr IV. E. Elliot (Minister of Agriculture). Formal negotiations have already been opened to stave off the application of a quota system when the Ottawa agreements come up for revision in July. The Dominion representatives say they will rely on Mr Baldwin’s undertaking given to Mr J. G. Coates at Ottawa that he will provide an increasing share of British markets for

the Dominions. Regarding the question of default, a high Australian official said: “Australia has never officially suggested that she won’t pay interest on British loans, but the matter is simple arithmetic. We have to export £40,000,000 worth more goods than we import in order to meet interest on loans. If we cannot clear that margin—•—.” The Australian did not conqilete the sentence. SUBSIDY ON BEEF ? A PUBLICITY CAMPAIGN. Received May 24, 12.10 p.m. LONDON, May 23. The Sun says the Government is discussing the subsidising of Home-pro-duced beef by levying on beef imports as an alternative to reducing foreign and Dominion imports. It is also considering a national campaign to increase the eating of British beef. AUSTRALIA’S TRADE. INCREASING BALANCE. LONDON, May 23. The Daily Telegraph’s financial edi* tor, commenting on the Australian trade position to the end of March, points out that there should be a surplus in London on June 30 of about £18,000,000 above the sum required to meet debt service. “Under these circumstances one wonders how much longer the authorities will maintain the exchange at its present level,” he adds. “There are certainly potent political reasons why the Australian pound should not be allowed to appreciate, but meanwhile the London balances are steadily accumulating and may shortly become inconveniently large.” MR D. JONES’S VIEWS. BEEF AND MUTTON. Per Press Association. CHRISTCHURCH, May 23. The belief that meat quotas will not affect New Zealand till the end of 1935 at the earliest is held by Mr D. Jones, chairman of the Meat Producers’ Board. Speaking at a meeting of the executive of the North Canterbury branch of the Farmers’ Union to-day, Mr Jones said the whole matter would be discussed in London early in June, but it was his impression, and also the impression of the board, that the present agreement would run till the end of 1935.

“Our position with regard to mutton and lamb is, I think, secured,” said Mr Jones. “The agreement runs till the end of 1935. Beef, which is an important item in the North Island, is not so certainly secured. There is a good deal of haziness, even at Home, and probably the pressure brought to bear by the British farmers has complicated the position. However, we feel that we have a stronge case for a progressive increase till the end of 1935. I have nothing further I can tell you, because nothing is known about what is in the mind of the British Government.”