ECONOMIC UNITY

Press, Volume LXVI, Issue 19975, 9 July 1930, Page 11

ECONOMIC UNITY

SAFEGUARDING TO BE DEBATED. EMPIRE TRADE AGREEMENTS. CONSERVATIVE PARTY'S MOTION. (VKITBD PlieSS ASSOCIATION" —BT BLECTBIC TELEO3APH —COPYRIGHT.) (Received July Bth, 9.85 p.m.) LONDON. July 7. Following a meeting of the Conservative Party leaders, Mr Stanley Baldwin, and Mr Neville Chamberlain gave notice of a motion as under: — "That f .he House, believing the return to prosperity can best be promoted by tho safeguarding of Home markets against unfair foreign competition. and by tho expansion of the exports market by reciprocal trade agreements with the Empire overseas, regrets that the Government has reversed instead ot extended safeguarding, and has arbitrarily excluded it from considering the imposition of duties on foreign foodstuffs, devised to obtain equivalent advantages for British manufacturers and agriculture in Empire markets and elsewhere." Mr Baldwin is demanding an early debate, whirh will definitely establish whether the Government is prepared to brine the matter up for discussion at the Imperial Conference in the autumn. It will also afford the frankest and most definite statement regarding the Government's policy on Empire eeouomi-! unity. THE BANKERS' MANIFESTO. FURTHER OPINIONS EXPRESSED. RUGBY, July 7. The declaration on the subject of Imperial trade relations, which was issued last Friday and signed by 14 prominent London bankers and others, was discussed at a large number of | political meetings during the week- | end. The manifesto declared that the immediate step for securing and extending the markets for British goods lies in reciprocal trade agreements between the nations of the British Empire. Sir Aasten Chamberlain, speaking at Birmingham, coupled the announcement with that of the trade unions, whose recent report, he said, represented a complete change of view on the tariff question. Sir Philip Cunliffe-Lister, who was President of the Board Trade in the late Government;, speaking at Tenterden, said the pronouncement was of the highest consequences, as the signatories included some who ia the past bad been among the most rigid adherents of Free Trade. Mr C. T. Cramp, secretary of the National Union of Railwaying" speaking at West Hartlepool, emphasised , the need of the overseas markets keepf ing pace with the growth of- populaL tion. in Great Britain. He said the If Trades Union Congress Committee bef • lieved that new difficulties necessitated ' ' a new outlook, unhampered by tradition. The Liberal Leader Sir Herbert Samuel, was very critical of the manifesto in a speech at Altringham. He said it was not to be supposed that I the signatories were speaking for the institutions to which they Delonged. He awaited information that the directors of those institutions had carried resolutions' advocating a protect've tariff. He illustrated the difficulties of reciprocity, and said the adoption of the plan advocated _ would cause continual uncertainty in the conduct of business, and would involve a general rise in the cost of food. Sir Josiah Stamp (Liberal, who is one of the directors of the Bank of England), in an interview with the "Daily Herald" said the circumstances of the issue of the manifesto were shrouded in mystery.- A day or so before two at least of the signatories were »<< staunch Free Traders as thev ever were. „ , The Chancellor of the Exchequer, Mr Philip Bnowden. interviewed last night, said that of the 14 signatories only about half appeared to he bankers, and he characterised as impudent their profession to represent financial opinion. Foreign Secretary. Mr Arthur Henderson, at Cromer, challenEed Lord Beaverbrook's statement that 200 Labour members of Parliament were waiting to transfer their allegiance to Fmoire Free Trade There were not two score prepared to adopt that policy in the way Lord Beaverbrook was advocating. , It is reoorted that the bankers manifesto will be discussed to-night at a Liberal Party . meeting at the House of Commons. The publication of the manifesto has created great interest abroad, notably in the United States and Germany. UNITED EFFORT DEMANDED. (Received July Bth, 8.20 p.m.) LONDON, July 7. The Empire Industries Association's Executive carried a resolution cordially welcoming the Bankers' manifesto, and demanding a united effort towards Imperial economic unity.