EMPIRE TRADE

Evening Post, Volume CX, Issue 36, 11 August 1930, Page 12

EMPIRE TRADE

MEETING FOREIGN TARIFFS

Vnitvi .. i'nss Asaociatlou—Cr Kledric Telegraph—Copyrialu. ;;■; , LONDOX, Oth August. > Barclay's '"Ba.uk Review contains an intei'edtius .iirticle with reference to the resolution passed last mouth by a group of bankers and others advocating urgent measures for the pupinotiou of Imperial trade, and expressing the belief that an immediate step for securing and extending a maj-ket for British goods lay in reci-procal-trade agreements between the nations ' of' the Empire, as a condition of whicli 'Great Britain must retain an open market for all Empire products, while being -prepared to imposa duties on all foreign imports. ■ The review argues that the only alternative policy to that of .a, low safeguarding tariff which might enable us to develop the Empire market aud still retain, through lower costs of production, a fanshare of the trade of other foreign countries would be through a reduction in wages. But such a.policy would obviously be attended with great difficulty, even though, it may reasonably be hoped that an adjustment of wages cqi-'respondinp with the costs .of living may become acceptable °"rh C rcdii h howev el -. n, sunraulec that. a reduction"* -the costs ,f ..vodncUo., m this .country might not be '^"^.^ still higher tarifts imposed b> loicigu cmra'lrfe Therefore, the .moat practicable line" to follow to obtain .«orev«PH development of Empire market* as wen aSng'ouv other foreign trade, would sienfto be^afeguarding the inenstaes ot this conntry and securing effecti\epo«cr for baTo-aininß in the interests ot om mannfaefn^ers' 5 trade, as-proposed ,n the bankers' resolution.