“TARANAKI CENTRAL PRESS.” TUESDAY, DECEMBER 29, 1936. JAPANESE AGREEMENT WITH AUSTRALIA.

Taranaki Central Press, Volume IV, Issue 319, 29 December 1936, Page 4

“TARANAKI CENTRAL PRESS.” TUESDAY, DECEMBER 29, 1936. JAPANESE AGREEMENT WITH AUSTRALIA.

The Japan-Australia trade war has ended, and both countries are jubilant as a result. The past dispute has been both interesting and profitable to certain outside countries, particularly New Zealand ,and it is as interesting to review the whole position. The trouble commenced last May, when the Australian Government, in order to give preference to Britain, and thereby win a larger share of the British market, imposed new duties on cotton and artificial piece goods. 1 his, of course, affected Japan directly, and that nation replied by refusing to buy Australian products. Japan is a large buyer of Australian wool. In 1934-35 she took 635,872 bales, and last year, 1935-36, some 780,146 bales. As a result of the boycott in the current season she has bought none, much to the profit of the New Zealand wool-grower. But according to the new agreement, which calls a truce to the late trade war, Japan will allow the importation of J 3 J,OOO bales of Australian wool a year. Australia in return will allow the importation of cotton piece goods and artificial silk to a total .of 102,500,000 square yards, approximately the average importations over the past few years. So trade resumes between the two nations from January 1, if not on a scale which provides for increasing trade, at least on a satisfactory level. Whether this agreement will have an immediate effect on the New Zealand wool matket or not, is difficult to say. Japan has certainly been a heavy buyer at this season’s sales, and she cannot buy above saturation point. Other conditions, however, should maintain a fairly firm market and no particular apprehension need be caused local wool-growers. Stratford Racing Club. Our news columns to-day contain a review of the progressive policy adopted by the local Racing Club in preparation for its New Year Carnival on Friday and Saturday next. Many improvements have, in the past season, been made to the course and its appointments, and an energetic committee and secretary everything in train for a successful meeting with which to herald the New Year. < Racing might well be classed as one of New Zealand s leading industries. Enormous capital has been expended on courses, stands etc .The maintenance of a racing stable is one of man s most expensive hobbies, while the financial support of the general public of, of course, stupendous. The totalisator is a mirror of the times, and earlier race-meetings in the Dominion this summer have all shown good increases over last year s total. So, it is expected, will be the position at the Stratford meeting, and with good fields of class horses in competition, generous support from the public should be assured. The two racing days ahead will be days of carnival lor the whole of Central 1 aranaki. Ihe Racing C lub has done its part in the very thorough preparations that have been made, and now all is up to the public to support such fine efforts.