Pacific Copra
p. 13 · Read in the full issue
Post-War Trade
Sir W. Carpenter on Pacific Copra
rpHE copra-crushing business established JL in Canada some years ago by the Carpenter interests appears to be growing and developing. Sir Walter Car penter (who settled in Vancouver two years ago to personally superintend the new enterprise) remarks, in a private letter, that they now have a crushing mill at each end of the Canadian Pacific railway—he has travelled 50,000 miles by rail in two years.
Sir Walter comments interestingly on the size, beauty and wealth of Canada, and proceeds:— “There is much talk about removal of trade restrictions, but I cannot see any concrete move in that direction, and I am afraid there will be greater restric tions rather than less on international trade.
“Unless USA removes the 5-cents pro cessing tax against Pacific Islands copra, and allows it the rate, 3 cents, enjoyed by the Philippines, then the Pacific Islands will find themselves in the same unenviable position they were in before.
“Taking a dispassionate view, from here, of the general post-war position, I feel that the trend of taxation, in Aus tralia, particularly, is likely to stultify Australian growth and expansion after the war. The individual taxation is the highest in the world, and capital that will flow to new countries is likely to settle in places where it is not so severe.
In wartime no one minds it, as all realise that sacrifices are needed, but when the war is over it will be different.
“I also think Government control has come to stay, as it will be extremely diffi cult to do away with restrictions. Prices will skyrocket for a time and be followed by a depression that will make the last one look like a baby.
“Taken altogether, I do not like to look into the future too closely. It will need very careful handling, and by far the largest single party will be the armed forces."