TRADING QUESTIONS

New Zealand Herald, Volume LXXII, Issue 22198, 27 August 1935, Page 10

TRADING QUESTIONS

EXPORTS AND IMPORTS AMERICAN VIEWPOINTS NEW YORK. Aug. 17 " If each nation insisted on an exact balance of trade, the result would be almost to wipe out foreign trade altogether," says the New York Times, in a leading article dealing with the Australian mission to the United States. " The Australian mission," the newspaper says, " will be chiefly a trade mission, with the object of arranging a greater purchase by America of Australian goods. , " Those Australians who are restless because the United States is selling more to Australia than it is buying might do well to ask themselves a question. Are not the reasons for our not taking a substantially greater volume of Australian goods very similar to those which prevent Australia from taking a substantially larger volume of Japanese goods, or, for that matter, British goods? " The channels of trade simply do not flow in that direction. Goods are not bought from any country primarily to express goodwill for that country, any more than they are sold to a country to express ill-will for it."