BUTTER RATIO

Taranaki Daily News, 13 March 1933, Page 7

BUTTER RATIO

DOMINIONS’ PROPOSALS TWO-ONE RATIO TO FOREIGN THREE-YEAR PERIOD FLAN VARIATION ON PRICE LEVEL LONDON TRADER’S TRIBUTE By Telegraph—Press Assn.—Copyright. Rec. 6.30 p.m. London, March IL It is understood the four points of butter restriction proposals telegraphed from Australia and New Zealand seek firstly recognition of the principle of the necessity of restriction, secondly that the restriction will be in a two to one ratio with foreigners and the Dominions, thirdly a period of three years, and fourthly that the restriction should be variable periodically, enabling the maintenance of the price level ip Britain, but that the ratio should be constant.

It is pointed out that British butter is not gravely affected because it ig in relatively small quantities and is realising higher prices than the Dominions' and foreign butter. The negotiations have not lapsed but have been adjourned awaiting Australia's and New Zealand’s advice to Mr. S, M- Bruce and Sir Thomas Wilford. Mr. Gordon Selfridge told an interviewer that the Dominions were magnificently playing their part under the Ottawa agreement. He thought difficulties such as were associated with butter would eventually be overcome in favpur of the Dominions. He and other traders were pushing Australian and New Zealand brands. The quality was good and the packing better. Sales were increasing.

Mr. Selfridge emphasised that if British households were unable to buy butter at a reasonable price they would employ substitutes. AUSTRALIA’S SIX PER CENT. “TENTATIVE AGREEMENT” CABINET TO MEET FIRST Sydney, March 11. A reluctant and purely tentative agreement to restrict butter exports by 6 per cent, was reached at a meeting of the Dairy Produce Export Control Board, says the Canberra correspondent of the Telegraph. No offer is to be ’transmitted to Britain until after Tuesday’s Cabinet meeting, at which the matter is to be discussed. The Prime Minister, Mr- J. A. Lyons, addressed the board and indicated that the Government was unwilling to take action without full consultation with the board. K Largely at the instance of the board the Government decided that the tentative agreement for a 6 per cent, restriction would apply for a term of one year.