FOREIGN COMPETITION.

New Zealand Herald, Volume XL, Issue 12409, 23 October 1903, Page 5

FOREIGN COMPETITION.

EFFECT ON BRITISH TRADE. By Telegraph.— Association.— Copyright. London, October 21. Twenty-nine thousand tons of Belgian nails -were dumped down in Staffordshire in 1902, the manufacturers' loss being 4s per ton, covered by the cartee, ensuring a profit of 40s per ton for Belgium. Mr. G. A. Touch, chairman of the directors of Messrs. Patterson, Laing and Bruce, Limited, Australian warehousemen, speaking at a meeting of shareholders, said it was impossible to be satisfied with the present commercial situation. Twenty years ago j for every 20s worth of goods shipped j to Australia by the United Kingdom, j 2s worth were sent by foreigners. Now the foreigners sent 8s worth of goods to Australia for every 20s worth of British goods. In their own business American competition i had become aggressively active. If j Australia had 10 per cent, preference I against foreign countries most of the goods which were sent to Australia from America would be sent from British territory, and lines which had gone to Germany would return to Great Britain.