PREFERENTIAL TRADE.

Otago Witness, Issue 2722, 16 May 1906, Page 25

PREFERENTIAL TRADE.

LONDON, May 9. In the course of his speech at the Australasian Merchants' banquet, Mr Chamberlain further said': " The - colonies are our equals. It is. only by voluntary mutual agreement and goodwill that we can hope, to weld "closer that union of strength into an instrument of common welfare and common defence. The first step must be a closer commercial union. Other 6teps will follow. They must almost necessarily create some "Council of the Empire for the care of their' commercial interest's. He quoted statistics -to , provs that their^ rivals' trade had increased proportion-; ately more than ours with'^Aislralasia:" They must consider. _the desirability of a^ change of policy to meet the new conditions. Colonial statesmen had shown the' way towards a self-sustaining Empire ins regard to emigration and trade. -^-'^ v - ; \ Mr Taverner, responding, , safcD.thaJ;6entimen'tal ties were less lasting- tHan commercial ones. Australian- "statfstics oftrade and shipping showed a satisfactory increase. The colonies were clearly Helping to maintain British supremacy in trade and commerce throughout the world. '. Aus"= tralia's productive resources Showed, that the British investor held gilt-edged security. Australia was loyal to the backbone, and wanted to keep her money in the family and to do business with her owe people. Replying to a deputation of, the Associated Chambers of Commerce, Mr LloydGeorge admitted that the preferential treatment of foreign freights by steamship companies, particularly in connection with shipments for South Africa and Australasia, was a great grievance, and prima facie had the appearance of a bounty to foreign good 6. He would not be afraid to legislate, but it was necessary to inquire.