TARIFF TRUCE.

Auckland Star, Volume LXI, Issue 218, 15 September 1930, Page 7

TARIFF TRUCE.

BRITAIN'S ATTITUDE. Prepared To Ratify League Pact. PREER TRADE AIMED AT. i', ~ — 1 (United P.A.—Electric Telegrapli-Copyriglit) GENEVA, September 14.. Mr. W. Graham, President of the British Board of Trade, in addressing the League of Nations Assembly, announced that Britain would ratify the tariff truce convention. He Urged that all tlie signatories should ratify the! convention* in order that preparations for the forthcoming conference to negotiate a reduction of duties and promote freer trade generally might proceed without delay. Mr. Graham declared that unless a sufficient number of nations ratified the convention by April 1, 1931, Britain would hold herself free to act in any way she desired. It seemed that there was little hope of a general tariff reduction at present, but it might be advantageous to concentrate on certain commodities such as textiles and machinery in i order to see how far they could secure progressive tariff reductions. Increased tariffs might temporarily stimulate industries, but the cumulative effect of such a course must seriously delay Europe's restoration. The permanent solution of economic difficulties lay in the abolition of tariff barriers.