EMPIRE COMMERCE

Greymouth Evening Star, 4 July 1933, Page 5

EMPIRE COMMERCE

BRITAIN’S DISSATISFACTION “ONE-SIDED AND UNFAIR” . [BY CABLE —PRESS ASSN. —COPYRIGHT.] (Recd, Ju,ly 4,-Noon.) . LONDON, July 3. Mr J. H. Thomas (Dominions Secretary), speaking at the Empire Chamber of Commerce' Congress luncheon, said that since the Ottawa Conference, British consumption of Empire products had shown an increase. Britain had observed the spirit and letter of the agreements, giving free entry to every Empire product, but he desired to appeal to every Dominion business man to recognise that no bargain should be onesided.

He wanted to say quite clearly that what the British business men was thinking was, there could be no greater blunder than to lose the spirit of Ottawa.

In the Commons, Mr Lambert asked would Mr Thomas represent to the Commonwealth Government the export bounty of threepence a pound on butter, plus three half-pence, due to the depreciated currency, constituted unfair competition with the British producers. Mr Thomas replied that discussions with the Dominions’ representatives as regards marketing of dairy products were continuing, and he could'/ not. make a statement at present. Mr Lambert: Will you point out that Australian bounties ‘'constitute unfair competition? Mr Thomas: I think they do.

CONFERENCE PROPOSALS.

LONDON, July 3.

The Committee of the Chambers ot Commerce of the Empire, including New Zealand and Australian delegates, tabled a report to the Congress, wherein they suggest a sterling union of Empire countries, which would be' open to other countries who agree to share the responsibilities, as an alter-? native to the reformed gold standard. ’ The latter, however, was most likely to prove generally acceptable, and avert the evil of competitive exchange depreciation. The committee, therefore, advocate a restriction of gold to the settlement of international marginal balances, arising from trade. I The stabilisation of the value of silver is also a matter of high importance. .( Failing effective international cooperation as regards gold, the creation of a sterling area is desirable, wherein the Exchange Equalisation Fund’ could co-operate, the system to include reciprocal trade agreements, and the abandonment of unconditional most-favoured-nation clause. Mr Harry Dawson (Bradford representative) voiced the resentment of the British textile trade at the Ottawa agreement. Mr C. Gibson, M.P., said that Australia and Canada repeatedly and unfairly closed markets against British manufacturers. . • . i Mr A. Heath, of Sydney, agreed that Mr Gibson’s complaint was partly justified.Mr J. Boyd, of Melbourne, recalled that Australia was still the largest Importer - of British goods. Mr J. Taylor, of New Zealand 1 , moved in opposing the creation of boards of control in certain parts of the Empire, regulating supplies and prices of necessaries, resulting in the worst , form of dumping. Some dominions, by unfair bounties, infringed the spirit of Ottawa, under-cutting New Zealand products. Mr T. McPherson (New Zealand) said that the Australian butter scheme was notorious in this respect. The discussion was adjourned.