TRADE TREATY

Hokitika Guardian, 24 July 1931, Page 6

TRADE TREATY

CANADA AND AUSTRALIA

(Australian Press Association.)

CANBERRA, July 23.

The Bill giving effect to the Canadian Trade Treaty passed the third reading in the Senate. OTTAWA, July 22. Describing it as the first step towards the development of Empire trade on sound lines, Air Bennett, today, introduced in the House, for the second reading, the Australian trade agreement. Certain principles had been kept in mind, Mr Bennett said, and it was realised that Australia produced goods of a nature Canada must import anti vice-versa. The agreement predicted throughout there must be mutual advantage. If the treaty did not benefit both countries, it was of little value. Expressing doubt regarding the effectiveness of the trade treaty, Mr Mackenzie King in' the House oi Commons, made a charge that the pact amounted to nothing, as the British preference of 40. per cent, in Australia was prohibitive. “Canadian goods will have a hard time getting into that market,” he sard. Australia’s depreciated currency was another big factor, he added, and it was even possible Canada might have to advance credits. The treaty’s value ■ would be judged best by trade returns.

BILL’S. PASSAGE

IN CANADIAN HOUSI

OTTAWA, July 22

With noticeable speed, the Australian Trade Treaty was given its second reading and passed the committee stage in the Canadian House of Commons. It will tie given the filial reading in the House of Commons on Wednesday. The Liberal Loader, Mr Maclvetizie King, said he supported the underlying principle of the Bill, that <>! P lo ' moting trade with Australia, but he understood that the height of the Australian preferential tariff in many cases was as great, if not greater than Canada’s general tariff. Australia had really made it impossible for certain commodities, even under the British preference, to be imported into that country.