The MANAWATU DAILY Times MONDAY, OCTOBER 5, 1936. An Imperial Conference of Commerce

Manawatu Times, Volume 61, Issue 235, 5 October 1936, Page 6

The MANAWATU DAILY Times MONDAY, OCTOBER 5, 1936. An Imperial Conference of Commerce

There opened in Wellington last Friday' the fourteenth triennial congress of the Federation of Chambers of Commeiec of the British Empire. This is the first occasion upon which New Zealand has had the honour of welcoming the Empire’s commercial leaders in a body. According to the rota, the congress will not again meet here until 1970.

What the Imperial Conference is to the political problems of the Empire, so is the present gathering to the commercial and economic problems. The congress now sitting may well be termed an Imperial Conference of Commerce.

Gathered together to deliberate on problems concerning the commerce of the greatest Empire known to history are many extremely able men whose varied experience covers every corner of the earth and every classification of commercial enterprise. The deliberations of such a conference cannot but be of great value to the country wherein it is held, to those taking part and to the lands from which they come. The memoers of this congress have no mandatory powers, but theirs as the power of ideas. Their proven ability lends weight to their decisions and recommendations. Their deliberations will stimulate thought, their judgment upon policies will be deserving or the greatest respect and their recommendations will be worthy of earnest attention.

Amongst tlie most important matters that will be discussed will be currency stability, bilateral trade, tariffs, quotas and defence The delegates themselves will find much oi interest hr the policies of the New Zealand Government of the day. There are Mi*. Nash’s aspirations toward bilateral trade—to exchange New Zealand butter for British manufactures and similar direct bargains with other nations. Is this a sound, practical policy’/ Then, too, what of our 40-hour week, lnghei wages increased taxation, suggested exchange rate loweiing to sterling parity and tlie policy of further secondary industiy development»

Currency stability is of especial interest at the moment on account of the collate of the Gold Bloc, France, Switzerland and Holland. It is now believed in some quarters that international trade will revive, consequent upon an era of stabilised currency exchange between nations as existed prior to 1914. It might be held that for New Zealand to alter her existing exchange rate on Britain would be an unsocial action.

The threat of quotas and tariffs upon Dominion produce entering the Home market is one of close concern to all New Zealanders from Cabinet to cowshed. Bound up with this problem are others such as Britain’s defence needs and her food supplies in the event of war. Britain also has to consider her important trade without the limits of the Empire.

Certainly there are many problems where aid to a solution would be welcome. That international problems of trade are difficult to solve may be appreciated from the fact that New Zealand and Australia have an inter-Dominion problem on their hands. A simple little matter of potatoes v. oranges has remained for a decade or more. The high importance of satisfactory trading relationship may be gauged from the fact that Australia’s wool-growers fear a loss of £1,000,000 a month owing to the Commonwealth’s “trade war” with Japan and the U.S.A.

The congress now sitting in "Wellington cannot be expected to provide ready-made solutions to all the problems, trade and otherwise, of the Empire. However, the result of those deliberations should be of true worth in the principles ' accepted and enunciated. Those principles will be of value in determining lines of policy to the statesmen whose duty it is to guide the various nations of the British Commonwealth through these uneasy days.