THE CASE FOR AUSTRALIA

Taranaki Daily News, 6 August 1932, Page 7

THE CASE FOR AUSTRALIA

INCREASED TRADE HOPED PURCHASING POWER NEED Rec. 5.5 p.m. Ottawa, Aug. 4. “v.Mr. Bruce is unable to give an estimate in figures of the concessions Australia is offering Britain. The-strength of Australia’s case lies in the. record of its purchases from Britain and the enbrmous--1 ly increased trade that is assured as soon as the .purchasing power returns. Australia at the height of its prosperity bought £61,000,000 worth of goods a year \ from Britain. This has been reduced by the depression to the neighbourhood of £20,000,000. Australia’s purchases from Britain •jumped ' from £24,000,000 in 1907 to £61,000,000 in 1927, indicating the value of Australia’s trade in prosperous times. During this period Australia greatly expanded its secondary industries. This industrial expansion did not prejudicially affect purchases from Britain. Mr. Bruce submitted these figures to ; Britain in support of his strong contention that apart from the concessions Australia is now offering Australian purchases from Britain will rise enormously with returning prosperity. Britain already has 80 or 90 per cent, of the Australian market for some goods. Similar opportunities will be available for other articles.. The whole trouble is the serious fall in Australia’s purchasing power.