BRITAIN’S BEST CUSTOMER.
“India is a far better customer to this country than Australia or Canada or Ne'w Zealand. Australia took in 1918 between £50,000,000 and £60,000,000, but India took £83,000,000. In 1924 Australia took £lO 9s per head of its population of British goods, and that had dropped to £8 17s in 1928. Mow, they take a high percentage because they are a white people, a people with a high standard' of living, but 1 am inclined to think that, apart from the slight natural increase of population tho consumption in Australia of British goods has reached for the time being saturation-point. It is not so in regard to India. India takes a 'far larger amount, but that represents only (is per head of her population. Australia, £9; India, 6s. If you raise the purchasingrpower of the Australians by 6s a head, you get a total increase in trade of £2,000,000, but if you raise the purchasing-power of the hundreds; of millions of the people of India- by 6s a head, you increase your trade by £83,000,000. Therefore, I say that here you get the problem of Imperial trade. I ’—Mr Philip Snowden.
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Hokitika Guardian, 23 September 1929, Page 8
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194BRITAIN’S BEST CUSTOMER. Hokitika Guardian, 23 September 1929, Page 8
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