FREETRADE MANIFESTO

Evening Star, Issue 19386, 21 October 1926, Page 5

FREETRADE MANIFESTO

APPROVAL OP FINANCIAL PAPERS.

Press Association — By Telegraph—Copyright. LONDON, October 20. Tho ‘Financial Times ’ and the ‘Financial News’ both give general approval to the Frectrado manifesto, BRITISH AND FRENCH COMMENT. LONDON October 20. (Received October 21, at 1.30 a.ra.) The Freetrade organs welcome the manifesto, but tho comment else whore is cautions. The * Morning Post is of opinion that it must necessarily command attention; but the paper considers that the moment of puhlicatmn was mopportuno, coinciding with the I^F 1 ' Conference, which is about to discuss Preference. Tho ‘ Morning Post adds “ We should hare preferred to Imd tiio signatures of distinguished repicsenjvtives of English finance and commerce attached to proposals for tho develop ment of the Empire.” The ‘ Daily Telegraph s city editor says: ‘‘lf the weight of opinion counts for anything, some practical result should ensue. Europe, m her fi' ian^;' l antagonisms, has overlooked the elementary truths of trade and exchange. Paris comment is unfavorable. Ihoiig the bankers signed the manifesto, the signature of the Bank of Franco is missing, and will not bo given. It is argued that Freetrade is impossible under tho exchange conditions.

AMERICA’S VIEW,

OFFICIAL STATEMENT ISSUED.

NEW YORK, October 19

(Received October 21, at 1.30 a.m.) The removal of tariff barriers and other restrictions on European trade is recommended by a group or international bankers who signed a statement to the public hero and .in European capitals. This involves only postwar trade agreements, and does not contemplate any change in the American tariff laws. In the opinion ot United States bankers, familiar with the document, no special importance is attached to the statement by the international bankers here. It is said that the idea originated last spring with the British bankers, who solicited American signatories in an endeavor to lend moral force to the plea rather than to commit them to a definite programme. A Washington message states that the President’s official spokesman announced that the United States will keep her protective tariff, regardless of what international bankers think is best for Europe. The statement proceeds: “There is quite a difference between the tariff Customs of the United States and other countries. I doubt if such can be done without jeopardising our standard of living, our scale of wages, and our quantity of production.” Another reaction in official circles was that the manifesto indicated a move by Europe for a reduction of American war debts, or their canacellatiou, if the proposal was carried forward to a logical conclusion.

It is understood that the Republican politicians are ready to seize upon the manifesto to show that the present tariff is insufficient to protect American industry, and to use this as campaign material at the coming elections. AIMED AT FRANCE. PARIS, October 20. Received October 21, at 9.45 a.m.) The ‘ Petit Parisien ’ describes the bankers’ manifesto as a pistol pointed at the heart of Versailles. It was inspired by a prominent British financial expert, who has never concealed his hostility to France.