TRADE ROUTES

Taranaki Daily News, Volume LIV, Issue 309, 26 June 1912, Page 4

TRADE ROUTES

POSSIBILITIES OF PANAMA CANAL. j DISCUSSED UV MR. BRI'CE. INCREASED EXPORTS. ■ ''One topic has occurred to me," said the Right If. a. James Bryce. when addressing the Lhamber of Commerce at Christehurcl), "and that is the results likely to follow from the opening of the Oceanic Canal at Panama. It will open to you a route to Western Europe which will be a little shorter than the route round Cape Horn. How far your ships will use that route I do not know, but clearly ships coming from England here will find it a shorter, if not a better, route than via Cape Horn westward. Whether it is better to come via Suez or Capetown you will know better than 1 do. The north of New Zealand is rather nearer England via Panama than Suez, hut on the other hand, as regards your trade with tropical South America the Caribbean Sea and the Eastern States of America, the benefit would he very great indeed. "A good deal may depend," Mr. Bryce continued, "on the scale of tolls and dues which the United States Government might impose for the use of the Canal. The subject was being much debated when I left, ami it seemed to be generally felt that the rates and dues ought to be fixed pretty low, lower than those of the Suez Canal. Some people talk of a dollar a ton, some of a dollar and a-quarter, and gome of a much larger fee. It is, of course, an object of considerable interest that the canal upon which they are spending so enormous a sum of money—nearly a hundred millions sterling—should become a great avenue of commerce, and it would be wise, in the interests of themselves and the world, that it should be so. I think the sentiment of the people will be inclined to favor a fairly low rate, which would make for the use of the. canal by vessels coming to New Zealand and Australia. Assuming that there is a low Tate, and that your steamers go perhaps to Western Europe and certainly to the Eastern States of America, I should anticipate a great increaao of trade between you and those regions. The United States is growing so fast and developing its magnificent industrial potentialities at such a rate that it is probable the people soon will consume all the food they produce. The land still to come under cultivation is not extensive, and irrigation cannot go a great deal further in making forest and arid land suitable for cultivation. The methods of dry farming are being employed also, but the Increased food production from both these methods must be limited. It is therefore quite possible that some of your food products will find a market in the United States and in Eastern Europe.

"I ex|>wt a much larger trade between Kiistern Canada ami these islands than you have seen in the p;«st," Mr. Bryce continued. "You arc already developing an increasing trade with Western Canada, and I am glad to hear that both Canada and Great Britain have been profiting by a preferential tariff. The Caribbean Islands are not very great, but they will take food products, in which it would be of great advantage to you to havo a larger trade. The West Indian Islands are beginning to revive, and steamers might touch at Jamaica. There is a possibility of developing further trade with Western South America, which relies very largely on its .mines, and produces very little food. Your dairy produce, particularly, would gain a increasing trade if these States were better governed. The industries and development of mines will increase in these countries, and there is no reason why you should not have a very large share in any additional trade. "You may ask," Mr. Bryce said, "what is to be expected from a development of trade with Europe. I understand that there are some European countries where your meat is not admitted at all. That is unfortunate, for you could go on increasing to an unlimited extent if you had a standing market there. It w dangerous to predict what foreign countries will do in the matter of tariff. But if I were to venture to predict it would bo that the tendency, even in those European countries with a high protective tariff against agricultural produce and meat will be against such restrictions and prohibitions. The mass of the people or the Continent of Europe are interested in having cheap food. They resent the restrictions to which they are subjected by the high duties levied on foods, and the more power they acquire the more likely it is that the protective barriers against trade will be broken down—(ap-plause)--and any change in the direction of tariff legislation is likely to be in favor of other exporting countries. I do not think the restrictions will be made more severe, but rather lower." (Applause).