AUSTRALIAN INSULT

Poverty Bay Herald, Volume LV, Issue 17607, 24 October 1931, Page 3

AUSTRALIAN INSULT

TARIFF AND JAPAN BIG WOOL BUYER SYDNEY. Get, 10. “It is regrettable that through its tariff, Australia should insult such a fine customer as Japan,” said Mr F. H. Tout', president of the Graziers’ Association to-day, commenting on the fact that some Japanese wool-buyers arc giving portion of tlicir business to South Africa. On the other hand, Mr. If. Gordon Bennett, president of the Chamber of Manufacturers, contends that the tariff has not affected Japan’s buying of our wool. Both Japan and France, he says, are themselves high protectionist countries, and they buy on the best market, regardless of tariffs. “Australia has been in the habit of sending to Japan exports of total value ,o‘ about £11,000,000 a year, while Japan has been sending to us something like £4.000.000 worth of goods. The balance has been substantially in favor of the Commonwealth,” said Mr. Tout. ‘•South Africa is a competitor to bn considered in collection with (lie wool business. She now produces a line type of wool—partly, if is true, from pure stud rams obtainable from Australia. Apart from that advantage, however. .South Africa- has capable flockminstcrs, .mid I 'can see no reason why she should not produce lino wools.” In recent seasons Japan has "figured among the best buyers of the Australian dip. During 1930-31 she. purchased in our markets 513,958 bales of wool, and in- addition took from Now Zealand 27.208 bales, making the seasons’ total direct purchases 541,176 'bales. Throughout flic opening series of 'sales in Sydney this season, Japan maintained the high position on the list of buyers to which she had attained last year, when her purchases placed he. second on the list.