WORLD AFFAIRS

Hawke's Bay Tribune, Volume XXIV, Issue 97, 7 April 1934, Page 8

WORLD AFFAIRS

Nationalism and Trade OUTLOOK FOR FUTURE Since his arrivel in Australia, the High Commissioner, Mr. 8. M. Brueo, has emphasised the reason for Ins visi to the Commonwealth. He has stated that the manner in which Australia has met her obligations has opened to her a road of national prosperity. “The Economic Conference has been held,” said Mr. Bruce in on ® of “ 1S speeches, “and we have to recognise that it achieved nothing at nil, but. brought home the fact very clearly that we have to abandon tho idea that the solution of the world’s problems is coming through casting down all bariers and impediments to world trade, and that we all have to think again as to what policy we must follow in the future. It was a demonstration that the world was resolute in the pursuit of an intensely nationalistic economic policy. I have never attended a world conference where there was such an amazing amount of goodwill and such a blank, hopeless outlook for the accomplishment of anything the conference was held for. “Even now Its significance has not been realised. I think we will see a reorientation of policy as far as Britain is concerned. Britain Is awakening to tho fact that the old "dens, which prevailed prior to that conference, that Britain's wealth wood come from tho restoration of world trade, hawo gone. She sees that she must do exactly the same as other countries are doing, nnd for the time being she is assuming a nationalistic policy until tho world comes back to “It its being realised that Britain cannot do it by herself. The countries that are going to get the best during the next few years are those with the largest home market, the greatest resources, and the necessary capital and

experience. America has got these, and that is why President Roosevelt can conduct his experiments. Great Britain has a large home market, capital and experience, but no resources at all. The Empire has the resources and there must be a marrying of those resources to Britain’s market, experience and capital. “We want a united policy in Acsatrlia because we can see what lies ahead. For all our products the only market is the British market, and wc must make the best arrangements to get the greatest opportunity. No one is more opposed to a policy of restricted production than I am. I was a lone voice against it at the Economic Con ferencc, but the world has gone mad on it . All the major countries are adopting it, but it is a policy of mad ness, and opposed to every interest we have in Australia. “But the world has gone loose on this policy, and it is no use Australia saying she is not interested. We are vitally interested, and we have got to think out what our line is going to be. and what we can do to meet this post tion. I believe it can be met, and that we can get great opportunities in the British Market. “Apparently I am the person who must represent Australia’s interests on this question. I may have a streaky political past. Many of you people dislike me intensely, but that is all out of the way. I am out of politics now, and I have got the job of representing every one of you, knowing no politics, but only the necessity of Australia as a whole.”