RESULTS OF OTTAWA

New Zealand Herald, Volume LXIX, Issue 21276, 1 September 1932, Page 11

RESULTS OF OTTAWA

SOME TRADE INVERSION REVIVAL WITHIN EMPIRE GENERAL BENEFIT LATER MR. DOWNIE STEWART'S VIEW By Telegraph—Press Association— Copyright (Received August 31, 11.15 p.m.) NEW YORK. Aug. 30 The New Zealand Minister of Finance, Mr. W. Downie Stewart, arrived at New York from Ottawa. Discussing the Empirt Conference, he said that although the agreements reached would divert some trade from outside countries, such as the United States, the revival of trade within the Empire would help to restore its buvi ig eventually in different countries.

The Ottawa agreen ents were not directed against other countries, but would be helpful by stimulating the Empire economically. Although the agreement between Canada and Briiain would divert United States trade, the policy involved no hostilo attitude toward the United States.

AUSTRALIA'S POSITION PRIME MINISTER'S REVIEW SATISFACTORY AGREEMENT (Received August 3'. 0.3 p.m.) CANBERRA. Aug. 31 In the House of Representatives to-day the Prime Minister, Mi. J. A. Lyons, gave a comprehensive survey of the results of the Ottawa Conference as affecting Australia. He praise"l the Australian delegates for the part th >y had played. Mr. Lyons summarised the concessions made by Australia to Br:lain and said he would ask Parliament to give effect to the Ottawa agreement —which he described as most satisfactory—after the return of the Minister of Trade and Customs, Mr. H. S. Gullett, on September 24. Mr. J. H. Scullin, Leader of the Opposition, expressed the f(ar that too great a price had been paid fcr what had been obtained at Ottawa, as the Commonwealth's hands had been tied in the matter of the tariff.

MR. BRUCE'S SUMMARY RISING COMMODITY PRICES (Received August 3t, 5.5 p.m.) NEW YORK, Aug. 31 Mr. S. M. Bruce, who led the Australian delegation to Ottawa, broadcast a speech by short-wave at 7.30 a.m. in an effort to reach Australian listeners. He briefly surveyed the achievements at the Ottawa Conference, particularly in regard to Australia, and praised the spirit of mutual helpfulness which had animated the delegates. " The conference was an outstanding success," said Mr. Brvce. " This is a tribute to the character and wisdom of the British peoples throughout the world. There was no atmosphere of bargaining in order to obtain unfair advantages. " The agreement reached with Britain will result in very real advantages to Australia. With the exception of wool—where the circumstances rendered assistance in the British market impossible— Britain is now according us preference over almost the whole held in our trade with the Mother Country. " The British delegates realised the necessity of raising commodity prices. Also I am convinced that the American Government has the same objective. With rising prices Australia's position is assured.