THE OTTAWA DECISIONS.

Star (Christchurch), Volume XLIV, Issue 538, 22 August 1932, Page 8

THE OTTAWA DECISIONS.

“ A Certain Benefit Should Accrue to Farmers of New Zealand.” OPINIONS OF CITY BUSINESS MEN. SEVERAL BUSINESS MEN interested in the exporting trade were guarded when interviewed on the probable effects of the Ottawa decisions dealing with the Dominions, preferring to withhold comment until further details had come to hand. One man pointed out that a certain benefit would accrue to New Zealand and some farmers would receive much-needed relief. The restrictions placed on the imports of meat from Argentine to Britain would not have a very great effect, however, for the exports of beef from both New Zealand and Australia were not targe. No indication was given of the extent to which restrictions would be placed on British imports of mutton and lamb, and complete information on this point would be awaited with interest.

That the local producer should receive quite a satisfactory benefit from the meat quota, was the opinion expressed by several city butchers. One man said that the Dominion would receive a three-farthing start over the Argentine so that demand generally should be stimulated. On the face of that it seemed as if a small rise in local meat prices would follow' the completion of the agreement. Manufacturers’ View. “ The significance of the agreements at Ottawa will not be apparent until the details are published and there is time to examine the effects of the concessions,” said Mr I. Woolf, pastpresident of the Canterbury Manufacturers’ Association. “ The fact that the New Zealand tariff has been based upon revenue production rather than protection to manufacturing industries places this Dominion in a most favourable position in its negotiations with Britain. There is also the fact that our exchange is lower than any of the large British territories. “ The conjunction of a low tariff and low exchange show's that Canada, South Africa and Australia have to give away a lot before they reach the New Zealand level. This inclines me to the belief that our primary producing friends will receive greater benefits in a unilateral agreement than is probable in a general agreement, and those concessions can be granted and received without sacrificing our manufacturing industries. “ All manufacturers will rejoice if the primary industries will receives advanced prices for their commodities, which must tend to returning confidence and a revival in trade.” “ A Terrible Thing.” Mr F. L. Hutchinson, a past president of the Canterbury Manufacturers’ Association, said that, while the manufacturers were only too glad to see something done to help the primary producers, it seemed a terrible thing that the secondary industries should be sacrificed to that end.

BUTTER AGREEMENT.

New Zealanders Declare it Unsatisfactory. OTTAWA. August 20. I Opinion in New Zealand circles is \ that the butter settlement is far from j satisfactory and must be regarded as a I temporary arrangement. Mr H. W. Osborne, one of the cffici ial consultants to the Australian delej gation, discussing the agreement as it J concerns dairy produce, said he considered the result satisfactory, but not quite up to expectations. ; “Our application,” said Mr Osborne, j ‘‘was for a duty of twopence a pound. | Now the duty has been fixed at fifteen I shillings a hundredweight, which will j be more than favourable to Australia j and New* Zealand if prices fall than a j percentage duty. It was disappointing that our application for some quantitative restriction upon foreign importation was not entertained, but on the point grave doubts were expressed whether it would not involve a dangerous precedent which might eventually act to the detriment of the dominions, by applying the same principle to the dominion products. The danger was realised at our first meeting here when British farmers intimated that they would support restrictions, but wished it to be distinctly understood that if at any time the dominions sent into Britain such large quantities as resulted in the prices of British products being brought below cost of production, they would want the restriction applied to the dominions also. Mr Osborne pointed out that the butter-men were forging a two-edged sword, one edge being used to-day to cut off the foreigner the other edge perhaps being applied to-morrow to cut off the dominions. They pressed for restriction as a temporary expedient to meet the existing glut of supplies, not as a permanent measure.