CANADA'S EXPORTS

New Zealand Herald, Volume LXX, Issue 21449, 24 March 1933, Page 9

CANADA'S EXPORTS

STABILISATION FUND .TREATY VIOLATION SUGGESTED OTTAWA, Maich 22 The suggestion that the fund for the stabilisation of exports referred to by the Minister of Finance, Mr. E. N. Rhodes, in his Budget speech may violate the treaties concluded at the Ottawa Conference, was made to-day in Liberal circles. It is claimed that the Government is involved in a possible expenditure of 60 cents in the pound with the secret knowledge that Britain is planning to bring the pound and dollar closer to par.

It -is recalled that the Prime Minister, Mr. R. B. Bennett, demanded and obtained the abrogation of the Australian treaty largely because Australia did what he now proposes to do. Ihe conference agreements provide that Britain will take action against any Dominion which ships goods with State aid.

With reference to the question of export bounties and anti-dumping duties within the Empire the Ottawa Conference adopted the following resolution: Ihia conference, recognising that, export bounties and exchange depreciation adversely affect the value of tariff preferences within the Commonwealth, expresses the hope that'with a rise in the level of commodity prices and with stabilised exchanges such bounties and the special duties which have been adopted as a means of adjusting the situation so created, may be withdrawn."