BRITISH TRADE

Manawatu Standard, Volume LII, Issue 67, 18 February 1932, Page 7

BRITISH TRADE

TARIFF BILL IN COMMONS. DEBATE ON SECOND READING. ’ RELATIONS WITH DOMINIONS. (United Press Association —By Electric Telegraph.—Copyright.) LONDON, Feb- 16. After a debate on the second reading of the Import Duties Bill in the House of Commons this evening, toward the close of which the Chancellor of the Exchequer, Mr Neville Chamberlain, replied to criticism from Ministers and members, the vote was taken and carried by 451 votes to 73. Sir Archibald Sinclair, Secretary of State for Scotland, said that he and other representatives of Free Trade electors who supported the Government only remained in the Ministry in the belief that it was essential, in view of the largo issues ahead, to continue the National Government as a symbol of tbe unity of the nation. _ Mr S. Storey (Conservative) said that he was a buyer of newsprint, but was opposed to its inclusion on tbe free list. Three-quarters of the supplies oame from mills owned by three newspaper groups, but these used only a third of their own mills’ output. The remainder was sold on the open market. Canada was capable of increasing her output by 1,000,000 tons a year. Therefore, it was ridiculous < to suggest that Britain forced the import of 120,000 tons of foreign newsprint. Major O. R. Attlee (Labour) said that the Dominions had not the least idea of allowing British manufactures to swamp their own factories’ outputs. In seeking the bargain with the Dominions Britain was up' against British agriculture. Was the latter to be protected against the Dominions? When Britain came down from an atmosphere of goodwill to one of bargaining with the Dominions she would as likely find a quarrel as an agreement. Mr Neville Chamberlain saiid that tbe Government was satisfied with the debate. The only difficulty was that there was so little to answer. He trusted that Major Attlee’s views of Empire trade relations were not characteristic of the Labour Party. A prominent man from the Dominions had written to him after the opening of the debate: “A new Empire was born yesterday. Henceforth we can proceed together in harmony and unity with the hope of a satisfactory outcome to our conversations.”

The Chancellor proceeded to say that the speeches of all three of his dissentient colleagues were now recorded, embalmed, and enshrined in Hansard, but, unlike the mummies of Egyptian kings, they were unsealed and would remain available for inspection by Mr Chamberlain agreed that alO per cent, tariff was insufficient to check dumping. It would be necessary to adopt a method of prohibition by license, which would entail a survey of the existing conventions. As regards the free list, each article had to be considered on its merits. With reference to 1 agriculture, he asked the House to remember that the Bill conferred definite benefits. Also, they must not throw away all their cards before they started to converse with the Dominions. The division was then taken. . TRADE BALANCE FOR 1931.' DEFICIT OF 110 MILLIONS. Received February 18, 12.30 p.m. LONDON, Feb. 17. Major Hore-Belisha, Parliamentary Secretary to the Board of Trade, in answer to a question in the House of Commons, said the Board of Trade estimates of the balance of trade for 1931 were: Imports £870,000,000 exports £459,000,000, imports showing an excess of £411,000,000. Against this there was an estimated net national shipping income of £80,000,000; income from _ overseas investments, £165,000,000; receipts from short loans and commissions, £30,000,000; and other overseas receipts £26,000,000; leaving a total debit balance of £110,000,000, compared with a credit bahu**i of £28,000.000 in 1930 and £103,000,000 in 1929. In addition to these there was ail excess of gold exports of £35,000,000. The reduction in the income from overseas investments was due to defaults in interests by South America*. Governments and big reductions in the dividends of railways, mines, rubber, oil and tea. TARIFF BARGAINING. CONSULTING THE DOMINIONS. LONDON, Feb. 17. The British Government has sent Mr J. A. Lyons, Prime Minister of Australia, tariff schedules, suggesting the commodities on which Britain would like Australia to reduce her tariffs as a quid pro quo for Britain’s preferences. The schedules are the result of extensive preparation, including consultation by the British Government’s representatives in the Dominions, and cover the whole range of commodities on which further preferences would benefit Britain’s exports to the Dominions.