EMPIRE DEVELOPMENT

Evening Star, Issue 22684, 25 June 1937, Page 9

EMPIRE DEVELOPMENT

GREATER PURCHASING POWER NEEDED VIEWS OF FEDERATED CHAMBERS OF COMMERCE Press Association —By Telegraph—Copyright LONDON, June 24. (Received June 25, at 12.15 p.m.) A feature in the annual report of the Federation of Chambers of Commerce of the British Empire is the adoption of Mr Savage’s thesis that the root of the problem for Empire development is increasing purchasing power of the masses. It declares: “It is evident that if the people of the United Kingdom had more purchasing power they would gladly consume more food, and if the people of the dominions had more purchasing power they would be pleased to consume more manufactures. The dominions could certainly produce more food and take more immigrants, and the United Kingdom could use the unemployed for producing more manufactures. This production of trade does not occur because the importers on both sides know the people have not the money to buy additional goods.” The report outlines the economic situation throughout the Empire, and suggests that the leaders in each industry in Britain and the dominions must meet and draw up a lino of demarcation to prevent industries overlapping as far as possible.