TRADE TREATY.

Taranaki Daily News, 26 April 1922, Page 5

TRADE TREATY.

BETWEEN DOMINIONS, AUSTRALIA'S TARIFF. AGREEMENT REACHED. By Telegraph.—Press Assn.—Copyright. Received April 24, 8.5 p.m. London, April 24. The Hon. W. Downie Stewart (New Zealand Minister of Customs) was the guest at a luncheon given by the National Club, which represents tire social side of the Coalition Government. Senator Pratten, in welcoming the guest, expressed the hope that a fair give and take agreement had been reached between Australia and New Zealand. They all believed in preferential treatment for the Mother Country and a reciprocal arrangement- with the Dominions. Mr. Stewart, replying, said trade reciprocity was a very thorny question, and consequently he was diffident about discussing the terms of the agreement, which would ultimately come before both Governments for final acceptance or rejection. Both Dominions were isolated from the rest of the world, and both were producing much the same products, making it difficult to arrange an equitable agreement. A fundamental difference was that Australia only gave preference to Britain, whereas New Zealand gave the same preference to the Dominions as to the Mother Country. He reviewed the effects which the Commonwealth’s latest tarin’ would have on New Zealand outside the preference pale until an adjustment Was made, as New Zealand did not want her markets flooded. He thought free trade possible in some classes of goods, though lie recognised it was difficult to make a satisfactory agreement respecting primary products and manufactures. New Zealand’s imports from Australia were considerably less than Australia’s from New Zealand, showing that Australia was more concerned in the trade than New Zealand. Furthermore, apart from commercial reasons, greater trading facilities and the promotion of intercourse would be advantageous from a sentimental point of view, tending to the cultivation of a keener interest in the affairs of both countries.—Aus.-NJJ. Cable Assn.