TRADE WITH AMERICA.

New Zealand Herald, Volume LXVII, Issue 20560, 10 May 1930, Page 11

TRADE WITH AMERICA.

POSITION OF AUSTRALIA.

MR. FENTON'S CONVERSATIONS

(Received May 9. 5.5 p.m.)

WASHINGTON. May 8. The Australian Minister of Trade and

Customs, Mr. J. E. Fenton, to-day conferred with the President, Mr. Hoover, for 25 minutes. Later he said all American Presidents should be chosen from the ranks of those who formerly had been mining engineers in Australia, like Mr. Hoover. They briefly discussed the question of the completion 01 the Singapore naval base.

Subsequently Mr. Fenton mot Mr. William Green, of tho American Federation of Labour, with whom he compared views about the labour situation in the two countries. He said ho found Mr. Gieen well informed as to Australian Labour. The Assistant Secretary of Commerce, Mr. Klein, discussed with Mr. Fenton the trade balance between the United States and Australia. He said that though the balance was about five to one against Australia, thn balance with the Far East against tho United States on the whole favoured Australia. There was a tendency in Australia to ascribe this to the tariff, said Mr. Klein, but to liirn it seemed rather to he duo to the fact that Australia and tho United States produce much tho same raw materials. Mr. Klein discussed the question of American plants in Australia. Ho said the tendency was gradually to even up exports and import.!). Wher discussing the trade between Australia and tho United States attention must not be focussed on the trade of those countries alone.

Replying to Mr. Klein's statements, Mr. Ferilon said the three-cornered trade argument did not meet 'lie situation. The fact that the United States might have an unfavourable balance with the Malay States, and Australia a favourable one, did

not change the basis of inequality, as Australia did only a fourth of tho business with t he United States.