IMPERIAL PREFERENCE

Evening Star, Issue 19298, 10 July 1926, Page 4

IMPERIAL PREFERENCE

DEVELOPMENT OF MARKETS. EXTENSION OF POLICY URGED. Press Association—By Telegraph—Copyright. LONDON, July 8. t At a mas* meeting in the Queen’s Hall, under the auspices of the Empire Industries Association, Sir Robert Horne moved a resolution in favor of the widest extension of the policy of Imperial Preference and the safeguarding of home industries. Sir Hainar Greenwood seconded the resolution, which was carried with enthusiasm. Sir Robert Horne said that the country was in tho grip of a crisis which was paralysing its activities. Only an audacious man would claim an immediate euro, but mitigation could be found in an extension and development of the markets of the Empire, the development of tho raw materials within the Empire, and protection against foreign competition.—A. and N.Z. Cable _________ THE CASE FOR PREFERENCE. Addressing the British Imperial Council of Commerce, Mr L. S. Amery, Secretary of State for the Dominions, said he was profoundly convinced that the only way out of tho present difficult situation,for Britain, and, indeed, for every part of the British Empire, was through co-operation in tho development of the Empire. Speaking of the preference given by tho dominions, Mr Amery said it was all nonsense to say this system of preference was a sham. It was true that one of the great factors in import trade was Britain’s power to lend money, and it was a serious matter that her balance of trade had disappeared so completely that she was not in a position now to lend money, and if she could not do this for the development of rhe world outside, and particularly the, British Empire, there would at once be a reduced demand for British goods, a further increase in unemployment, and a further disparity, between imports and exports, and a still graver situation. “ We are at this moment in a vicious circle,” said Mr Amery, and Ido not think I can exaggerate the seriousness of the situation. What is needed in this country is a new vision, and it is for the business community to light the torch of that great vision of Empire development.”