EMPIRE TRADE PROMOTION

Taranaki Daily News, 24 July 1931, Page 7

EMPIRE TRADE PROMOTION

CANADA TAKES ‘FIRST STEP’ TREATY WITH AUSTRALIANS CRITICISM BY OPPOSITION ACCEPTANCE AT CANBERRA By Teleffraph—Press Assn.—CopyrightOttawa, July 22.

Describing it as the first step towards the development of Empire trade on sound lines, Mr. R. B. Bennett to-day introduced in the House of Commons the second reading of the Australian Trade Agreement Bill. Certain principles had been kept in mind, Mr. Bennett said, and it was realised that Australia produced goods of a nature Canada must import, and vice versa. The agreement predicted that throughout there must be a mutual advantage. If the treaty did not benefit both countries it was of little value.

Expressing doubt regarding the effectiveness of the treaty, Mr. Mackenzie King, Leader of the Liberals, made the charge that the pact amounted to nothing. The British preference of 40 per cent, in Australia was prohibitive. “Canadian goods will have a hard time getting into that market,” he said. Australia’s depreciated currency was another big factor and it was even possible that Canada might have to advance credits. The value of the treaty could be judged best by the trade returns.

A Canberra message says the Bill giving effect to the treaty passed its third reading in the Senate.

COMMITTEE STAGE PASSED.

ATTITUDE OF THE LIBERALS.

Rec. 7.50 p.m. Ottawa, July 22. With noticeable speed the Australian trade treaty was given its second reading and passed the committee stages. It will be given its final reading, in the House of Commons on Wednesday. The Liberal leader, Mr. Mackenzie King, supported the underlying principle of the Bill—that of promoting trade with Australia—but said he understood the height of the Australian preferential tariff in many cases was as great as, if not greater than, Canada’s general tariff. Australia had really made it impossible for certain commodities, even under British preference, to be imported into that country.