New-York tribune., 1918-12-19
Australia Seeks
Capital From u. S.
For Development
Country's Economics Com
missioner Tells Man
ufactglrers His People
Want Americans to Sup
plant Germany in Trade

H. Y. Braddon, economic commits
sioner in the United States for the
Commonwealth of Australia, yester-
day urged American business men, in
their aspirations toward a greater for
elgn commerce, to turn their attention
to the Antipodes, where great oppor-
tunities for growth lie. He was speak
ing at the Hotel McAlpin at lucheon
of the American Manufacturers Ex-
port Association.
81 have received" Mr.. Braddon de-
clared, "a cable from the Federal Cab
met of Australia which said that the
commonwealth was ANXIOUS to hear
plating opening up new industries in
the commonwealth and that the gov
crnment invited definite proposals
with full particu ars
"Australa, which has a huge terri
tory largely undelevioped, wants Amer
lean capital. 1t has coal lands and
mineral resources in abundance, which
await development. In respect to man
factured articles, Australia wants par
tlcularly Americana made light automo-
bilcs of heavy horsepower. American
products in order of their Importance
which have flowed freely into Austria ia
wares gasolene and oil, motor cars, ap-
parel and textiles, and on lesser
scale tobacco products, drugs. chem
icals, canned goods and leather goods"
Francis H. Sisson, vice-president Of
the Guaranty Trust Company, the
other speaker, urged a freeing of
trade from hampering restrictions,
saying:
"Our existing anti combination leg
lslatlon is not only out of date, but
positive menace to our industrial
adequately cooperate outside of the
United States if we are compelled to
indulge in costly and uneconomic COM
petition within the United States. We
shall deny ourselves the full advantage
of the Webb law, in fact, unless we
repeal the Sherman antitrust law.
"America cannot perform her full
duty and service to the world at large
if there is not adequate and rapid
expansion Of our governments facili-
ties for promoting foreign trade. 1t is
ment increase it's efforts to establish
our new international trade relations
upon sound ethical and economic
much will depend. too, upon our
future tariff policy. Whether we shall
drift toward free trade or continue
our present protective system cannot
be determined now. We shall know
more definitely what line to follow,
however, when the peace treaty is
signed. But it appears certain that
in reframing our tariff schedules we
shall have to take into account the
greatly increased government expendi-
lures occasioned by the war, and which
can never be reduced to pre-war
basis.
owe should also remember that Eng
land will make a heroic and tenacious
effort not only to regain her trade,
but also to capture that formerly con-
trolled by Germany, as she made to
win the war England has the tre-
mendous advantage of lower overhead
costs, and that applies to all the i'm
portant factors in obtaining and hold
ing foreign trade; namely, banking.
manufacturing, exporting. shipping
and seamen interests All these are
willing to take a smaller margin of
profit than the corresponding interests
in the United States They are will
ing to play the long game. and we can
not exaggerate the Importance of this
advantage to England"