BRITISH LOAN OFFER.

New Zealand Herald, Volume LX, Issue 18565, 24 November 1923, Page 11

BRITISH LOAN OFFER.

REPLY TO MR. THEODORE.

SCHEME MISAPPREHENDED

Australian and N.Z. Cable Association. (Reed. 9.5 p.m.) LONDON, Nov. 22.

Mr. S. M. Bruce, Prime Minister of the Commonwealth, commenting on the declaration of Mr. E. G. Theodore, Premier of Queensland, that he is unable to accept assistance for the purchase of materials in Britain, on the ground that materials required are obtainable locally, says that Mr. Theodore is evidently under a misapprehension.. The "proposal does not contemplate that local supplies should not have first preference. The scheme merely covers material unobtainable in Australia, and further, it means sistancc will be spent in Labour necessary to utilise the materials from abroad. Mr. Bruco strongly emphasises the point that acceptance of such financial assistance should be 'for articles not procurable in Australia.

Australian and N.Z. Cable Association. (Reed. 4.50 p.m. MELBOURNE, Nov. 22.

Dr. Earle Page, Acting-Prime Minister, replying to Mr. E. G. Theodore, said that, while it was true that the loan concessions offered by the British Government applied to materials secured in England, the intention was not to shut out Australian manufacturers. The object was to place orders for future public works in England immediately, instead of a few years hence, as some States might intend. The usual tariff would apply, so that Australian manufacturers would be protected in any case.