IMPERIAL LOANS

New Zealand Times, Volume L, Issue 11685, 24 November 1923, Page 6

IMPERIAL LOANS

QUEENSLAND’S REJECTION SCHEME COVERS MATERIALS UNOBTAINABLE AT HOME. MR THEODORE’S MISTAKE. By Telegraph.—Press Assn.—Copyright Australian and N.Z. Cable Association LONDON, November 22. Mr Stanley Bruce, commenting cn Mr E. G. Theodore’s declaration that he is unable to accept, assistance involving the purchase of material m Britain, arguing that it is obtainable locally, says that Mr Theodore is evidently under a misapprehension. The proposal does not contemplate that local supplies should net have first preference. The scheme merely covers material unobtainable in Australia, and it further means that a considerable portion of the financial assistance must be spent in labour necessary to utilise the materials purchased abroad. Mr Bruoe strongly emphasised that such financial assistance should be accepted for articles unprocurable in Australia. USUAL TARIFF APPLIES. By Telegraph.—Press Assn. —Copyright. MELBOURNE, November 23. Dr. Earle Page, replying to Mr Theodore, said thift while it was true that the loan concessions 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 m England immediately, instead of a few years henoe, as some States may intend. The usual tariff would apply, so that Australian manufacturers would be protected in any case.