Report of the British Economic Mission to Australia

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Monograph

Identifikator:: 179824683X

URN:: urn:nbn:de:zbw-retromon-182286

Document type:: Monograph

Title:: Report of the British Economic Mission to Australia

Place of publication:: London

Publisher:: His Majesty's Stationery Office

Year of publication:: 7th January 1929

Scope:: 63 S.

Digitisation:: 2022

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: Part II. Main problems

Collection:: Economics Books

> of ‘goods in the Commonwealth. For many years the cost of production generally has been increasing, and unfortunately these increases appear to have been maintained. “ If Australia were entirely isolated from oversea sources of supply and independent of them, and if it were also inde- pendent of overseas markets for the disposal of some of its products, high cost of production would matter less to its people. Seeing, however, that Australia is not isolated and is dependent to a large degree upon overseas markets, the seriousness of the position lies in the fact that the cost of production in competing countries has declined while costs in Australia generally have risen—thus increasing the already wide margin of difference between the costs in overseas countries and those in Australia.” 48. The Customs duties are not all definitely fixed by statute. They are elastic in that they may be increased to prevent dumping, and within the limited range of deferred duties may be imposed suddenly by administrative action. We do not say that the powers thus entrusted to the Government have been capriciously used, but there is a danger that in imprudent hands they might be so used; and if they were trade would be seriously hampered. What virtually amount to administrative additions to Customs duties through special preferences given by authorities undertaking public works to the products first of their own and next of other States as against imported products, even though the latter when charged with the duties prescribed by the tariff may still be cheaper, are gravely to be deprecated. Action in this direction is in effect an arrogation of powers which by the constitution are entrusted to the Legislature and Government of the Commonwealth. 49. We realize that the objects of a protective tariff are not surely economic, and that a protective policy may be adopted, in part at least, on other grounds. A young nation may feel that it 1s due to herself to have a proper share of that diversity of occupa- tions and industries which characterizes the older peoples of the world, and that her national life would be one-sided and even starved without it; and she may feel that from the point of view of the dangers to which she may be exposed in case of war she cannot afford the risk of being deprived of essential commodities by Interruption of oversea communications, or, if the war be one in which she is herself engaged, of being without the industries Indispensable for the production of armaments. She may be Prepared to pay for these objects through economic sacrifice; but if this be necessary it is important that she should make the sacrifice with her eyes open and be ready to count the cost. 50. It is with the economic aspect of the protective tariff, there- fore, that we are mainly concerned, and not with any abstract controversy on the respective merits of protection as such and of the rival svstem of free trade. We recognize that protection is Alteration of luties by administra- tive action. Objects of a protective tariff. [ts economic aspect.

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