CHAMBERS OF COMMERCE

Press, Volume LXXII, Issue 21907, 7 October 1936, Page 10

CHAMBERS OF COMMERCE

GOODS FROM OUTSIDE THE EMPIRE

COUNTRIES WITH LOW LIVING STANDARDS

monetary policies discussed

(TMBS iSSOCUTItCX TSUMjaSJt.)

WELLINGTON, October «.

A remit viewing with grave concern the increasing importation Into the Empire of low-priced goods from countries with low Standards of living, and urging his Majesty’s Governments to lay before the next Imperial Conference the seriousness of such competition, was moved bjt Mr C. Granville Gibson (Leeds) at the congress of the British Empire Chambers of Commerce. Mr Gibson said that he had seen recently In Japan factories as efficiently staffed as any in Britain, taught by people from Britain and Europe, built by loan (and in some cases by the Government Itself tax free) apd afterwards handed over to private enterprise, to compete unrestrictedly with British countries, though they were manned at wages and under conditions thdt would never be tolerated in British countries. He commended what already had been done in Australia in the way of duty restrictions. Restrictions had also been imposed to some extent in Britain, and these restrictions were a very real help to British industry. Mr McGowan (Wellington) seconded the remit. He said he believed the greatest competition in New Zealand came from Japan. The debars was adjourned till to-morrow morning. Handicap of Taxation Sir Albert Atkey (Britain) moved a resolution brought down in the name of the council expressing the hope that the development of Empire trade might be freed from the handicap occasioned by the taxation imposed in certain Empire countries and states upon British non-residents trading through agents in Such countries and states, unless their stocks are held by a resident agent or unless the agent has general authority to make contracts on behalf of a principal, or unless there is a branch or management in the country where business is transacted.

Sir Albert Atkey a said that he thought the object of doing away with dual taxation was sufficiently clear, and he looked for Unanimous support for the resolution..

Mr F. W. Cook (Britain) seconded the resolution. Which was carried after a brief discussion.

Currency Stabilisation Mr J. A. Alton (Derby), on behalf of the council, moved a resolution that the congress viewed with satisfaction the attempt now belhg made to stabilise the franc, dollar, and pound sterling In relation to one another, and urged his Majesty’s Governments to do every* thing In their power to promote a speedy success. The congress ws* convinced that complete success could not be ensured until all nations Stabilised their respective currencies in agreement with the franc, dollar, and pound. Mr Alton said that he Was sorry to see In New Zealand that Softie people had been bitten by the “Douglas Credit bug” and thought that they could get something for nothing. Nothing could be got for nothing. The depreciation of currency Could not continue. It was a form of disease which politicians were particularly susceptible to, but it was a disease they should be inoculated against before they became politicians. They were not out to offend anybody, and if they were wise no offence could be taken. Professor T. Hytten (Sydney) said he did not agree that exchange should be stabilised, and . moved to add the words “as far as Internal conditions will allow."

This found support, Including that of Mr W. Machin (Christchurch), who said that with regard to deflation ox currency New Zealand now found herself in very good company. Mr J. T. Martin (Wellington) assured the British delegates that the prices New Zealand Was receiving even to-day in Britain were such that she could not carry on without the exchange.

The amendment was lost, and the resolution was carried by a large majority.