EMERGENCY DUTIES

Hawera Star, Volume LI, 7 December 1931, Page 7

EMERGENCY DUTIES

BRITISH ECONOMIC PROBLEMS DISCUSSIONS BY PARLIAMENT MR. CHAMBERLAIN OPTIMISTIC. I United Press Association —By Electric telegram Oopyrigbt.) Received 12.4 Q P- m -_ to-day. LONDON, Dec. 6. Further discussion of measures contemplated to meet the economic situation will commence with proceedings m the House of Commons forej the House rises for the Christmas the Government will make a definite '.announcement on the agricultural policy, which it is anticipated will include the acceptance not only of the principle of a quota lor home grown wheat, but also of a quota or wheat imported from the Dominions and. used by British millers. This will leave the way clear' for discussion regarding details, with the Dominions before the Imperial Economic Conference at Ottawa in July. , The Government has also allocated, time in the House of Commons for a debate on Wednesday on the application of emergency duties under the Abnormal Importation Act to imports of iron, steel and cotton goods, paricularly cotton piece goods.

TARIFF CONVERSATIONS. The tariff problem was referred to by Mr Neville Chamberlain at Newport, when lie frankly welcomed the desire expressed by other countries for friendly mutual discussion of tariffs, but said that no binding agreement could be concluded until after the Ottawa conference. Britain must claim the right exercised by other countries of a direct fiscal policy according to her own interests. The recent French suitax on British exports was peculiarly damaging to the British coal industry because it did not apply the same principal to competitors, quoting tlie.ir prices in depreciated sterling, and it came on top of a strict import rationing system. The Britis.li Government had made strong representations to France and he trusted that they would very shoriy re.ceive due consideration. He saw no reason by which the depreciation in value of the sterling should be substantial or - prolonged, but a satisfactory settlement of reparations more than anything else would remove the nervoumess now so. widespread over the world.' Various causes which led to the recent depression in the external value of the pound were discussed by Mr Chamberlain, who Said that one of the chief causes was perhaps a general uneasiness of foreign holders, of sterling balances in London, who saw hanging over Europe a cloud of uncertainty about the future, and who thought they would be more comfortable if they had liquid resources at home, where they would be available at short notice. He had no doubt that those foreign holders of sterling balances who had been taking their fimds away from London would presently find that they had made a bail bargain.