BASIS OF WORLD TRADE

Timaru Herald, Volume CXXXX, Issue 20165, 20 July 1935, Page 17

BASIS OF WORLD

TRADE

“SELLERS MUST BE BUYERS” MR LYONS’S MESSAGE TO CANADA United Press Association—By Elec trio Telegraph —Copyright VANCOUVER, July 18. The “Vancouver Sim’’ in an editorial says: “Mr Lyons (Prime Minister of Australia) comes to Canada with an appeal to buy more from Australia. The truth is that Canada, with a policy to sell goods abroad but not to buy in return, is destroying her markets. Every favourable balance we have with a country to which we do not owe money is bound to drive that country’s customers away. The l-eason is plain, they can only pay for goods with goods. If Canada will not let them do it, then they must buy in countries that will.” INVITATION TO TRADE MR LYONS'S APPEAL TO CANADA United press Association— By Eleetrlo Tel egra ph Coo vrl gbt (Received July 19, 5.5 p.m.) VANCOUVER, July 18. Taking advantage of the unexpected presence of the Prime Minister of Australia (Mr J. A. Lyons) the Rotary Club invited him to give an, address at its luncheon, during which he declared it was most important that Australia’s trade balance with Canada should be increased, adding that he did not wish to decrease Canada’s trade, but to bring about a more even balance. He said he would even welcome an increase in Canadian exports, providing the Australian leeway was made up.

TRADE WITH EGYPT TREATY WITH JAPAN DENOUNCED United Press Association—By Eleetrlo Tel egra pn —Copyright (Received July 19, 5.5 p.m.) LONDON, July 18. The Egyptian Government has denounced her commercial treaty with Japan, whose imports will henceforth be subject to higher duties. Lancashire expects a speedy improvement in trade with Egypt. Exports of piece-goods W'ere once 200,000,000yds a year, but slumped to 43,000,000 last year, while Japanese imports into Egypt increased fi-om 47,000,000 to 148,000,000 yards.

SHIP? FOR SOVIET IMPORTANT PURCHASES IN ENGLAND United Press Association—By Electric Telegraph—Copyright (Received July 19, 6.30 p.m.) LONDON, July 18. The “Daily Herald” says: “The Soviet Government has ordered seven timber-carrying steamers for £400,000 cash from a Barrow-in-Furness shipbuilding company.