OTTAWA AGREEMENT.

Waikato Times, Volume 118, Issue 19716, 25 October 1935, Page 4

OTTAWA AGREEMENT.

THE BENEFIT TO BRITAIN. Striking evidence of the readiness with Which British suppliers -of machinery have taken advantage -of the improved opportunities opened for them in Australia by the Ottawa Agreement ;of 1932 is given in the Victorian ‘Chamber of Manufactures Gazette, says the Melbourne Age. If the years between 1931-32 and 1933- be taken as a basis of comparison, the total imports into Australia from Great Britain Increased from £17,409,556 to £25,323,602, or by 4'5 her cent. The greater gain was between 1931,32 and 1932-33, that is, the. year immediately following the operation of the agreement, the Imports, into the Commonwealth, increasing from £17,40'9,556 to £23,of toy 35 per cent. The returns for 1933-34 are the latest available for importations of all kinds of goods. Some idea of the immense increase in imports of machinery and metals from Great Britain for comparative periods is afforded in the following table, giving the value of imports as to certain items -of machinery and metals between the year of the operation -of the Ottawa Agreement and 1934-

1032-33. 1933-34. 1934-35. 12 12 12 Articles months, months, months, imported £ £ £ Electric batteries & accumulators 12,135 20,201 24,458 Dynamo elecmachines . 174,292 220,482 285,280 T’graph. Instruments & telephones, ' tele phone switchb’rds 25,391 121,576 218,799' Metal work. machinery . 32,420 176,955 333,474 Mining mach. 60,720 90,806 182,601 Motive power machinery . 297,280 502,137 1,039,100 Print, mach. 56,490 111,754 214,029 yarn making, textllo making mach. . 155,743 271,591 286,280 Bolts, ' nuts, rivets and washers .. 14,897 38,150 . 62,476 Rafis, fishplates, fishbolts 504 0,180 30,062 Lamps and lampware . 101,031 105,15 S 266,173 'Plated ware and cutlery 164,899 316,028 359.355 Totals .. 870,836 2,094,018 3,331,087 “This tabic presents in a clear and concrete form the great advance made by Great Britain in its exports to Australia in 'the last three years,” observes tlio Gazette. “As examples, it may be mentioned that in ihis period the imports of motive power machinery increased in value by 249 per, cent, was realised. No wonder is it, therefore, Llial the president of the Board of Trade (Mr Bunciman) acknowledged in ihe House of Commons nulle recently that Ihe direct effect of Iho Ottawa Agreements had come up to expectations, and had tended to stimulate trade. "Those who adversely criticise the Commonwealth in its trade relationships with Great Britain should bear in mind the changed fiscal policy of flint, country. When it is recognised that Great Britain with its long years of industrial development and experience, has found it necessary lo give protection lo its industries, how much more reasonable and necessary is it that. In a young country like Australia Iho means by -which national life should he substantially built up through its secondary industries should be adequately safeguarded? Great, Britain lias realised that protection for ils industries is a good investment. This is demonstrated by (lie fact, as Ihe first six months of the present, year exports Increased by £17.000,000 compared with the similar period of last year, while Iho unemployed decreased by 1177,000 and Ihe consolidated revenue behuJltcd lo the extent of £20,000, ’