EMPIRE TRADE

Evening Star, Issue 21723, 18 May 1934, Page 7

EMPIRE TRADE

CHANCELLOR FAVOURS DEVELOPMENT STATEMENT CHEERED IN HOUSE Frew 'Association— By Telegraph—Copyright. LONDON May 17. The House of Commons cheered the unexpectedly emphatic announcement by the Chancellor of the Exchequer (Mr Neville Chamberlain) in favour of the development of Empire trade, emphasising that it had only been begun at Ottawa. Mr Chamberlain, in the course of the debate on the Finance Bill, said it was unlikely that international trade, for a period that could be foreseen, would assume its former proportions. Therefore, there were two alternatives still open, first, continued expansion of the home market, the limit of which had by no means been reached; secondly, the develop-, ment of inter-imperial trade. Britain must find compensation for the loss of so much foreign trade in these two directions. AN EMPIRE LOAN SUGGESTION CONDEMNED BY CHANCELLOR. LONDON, May 17, (Received May 18, at 11.55 a.m.) In the House of Commons Captain Fuller asked would the Chancellor consult the dominions with a view to floating an Empire loan to convert the dominions’ heavy commitments to a lower rate of interest to facilitate further Empire development and approach to Empire Freetrade. Mr Neville Chamberlain replied: “I have every sympathy with the object, but the suggestion is neither practicable nor desirable. The Treasury will always sympathetically consider any dominion proposal to exercise the right of conversion to a lower rate.”