A LOSING DEAL

Wanganui Chronicle, Volume 75, Issue 140, 16 June 1932, Page 7

A LOSING DEAL

AUSTRALIAN PRODUCERS PREPARATIONS FOR OTTAWA IF EXCHANGE SHOULD GO PREFERENCES OF NO AVAIL siy Telegraph—lrena Association—Copyright, Received June 15, 11.50 p.m. LONDON, June 15. The Australian Press Association .icarns that though elaborate schemes nave been worked out for the prepara tion of Australia’s case for presenta tion at Ottawa, there is a danger oi the whole preparatory work being ul tiniately rendered useless. Many sets of figures have been care fully worked out invisaging a British imposition of various duties on difin. the interests of the primary pro ducers of Australia and the other Dominions, whose products will be admitted to Britain free in return for increasing preferences to certain Brit uh manufactures in the Dominions, but it is understood that throughout all the calculations on Australia’s behalf, it apparently has been assumed that the present 25 per cent, exchange between Britain and Australia will continue indefinitely. Ever since it operated, this exchange has had the effect of giving Australian producers a bonus of 25 per cent, above the low world prices of commodities which have prevailed during recent months. If Ottawa were to adopt an Empire sterling currency as advocated in many influential quarters, the exchange would disappear. In such an event. Australian producers might be landed in an even worse plight than at present. They might possibly, for example, receive 10 or 12| or even 15 per cent, advantage as against foreign producers, yet lose on the deal through the disappearance of the present exchange. MINISTER’S STATEMENT BENEFITS HOPED FOR. SYDNEY, June 15. The Minister of Customs (Mr. Gullett), one of Australia’s delegates to Ottawa, in a farewell speech expressed his belief that substantial benefits would come to Australai from that conference, but success would not come if the decisions injured sections of the Empire. He considered it impossible te expect any benefits for wools. There were difficulties also in regard to the wheat. The position in regard to meat was slightly better, while the prospects were bright for other products. He was not going to Ottawa with a plan for writing the tariff up and down. The Commonwealth Government was resolute in regard to that aspect of policy.