NORTHERN ADVOCATE DAILY. Registered for transmission through the post as a newspaper. MONDAY, JULY 23, 1923. ECONOMIC POLICY.

Northern Advocate, 23 July 1923, Page 4

NORTHERN ADVOCATE DAILY. Registered for transmission through the post as a newspaper. MONDAY, JULY 23, 1923. ECONOMIC POLICY.

The president . of the ".V&lington Chamber of Commerce, speaking at a gathering* held last week, suggested that Mr Masscy should be accompanied to the Economic Conference in London by a business man capable of. representing commercial and farming interests. '' There are not ''many men who posficss" sufficient qualifications fot such an arduous task, but. if a suitable companion for the Prime Minister could be found it ccrtainly would be good business to send him to London. The representative of this Dominion should be well informed concerning the very big policy questions that will have to be discussed, and he should' be in a position himself to frame proposals in the interests of the trade and industry of tins country and the Empire. Mr Marsey will have no time to spare

while ho is in ' London, for the Imperial Conference will probably hold long sittings, and there will be a thousand and one matters of more domestic interest that will demand .the Prime Minister's attention. The Imperial Conference will be of first-rate importance because it will have to deal, with the defence of the Empire, the status of the Dominions in relation to foreign policy and other great questions of a more or less constitutional nature. But the Economic Conwill be equally important, and I New Zealand, whidh is so entirely de- | pendent for its wellbeing upon trade I with the Mother Country, is perhaps the most keenly interested, of all the Dpminions in the shaping of an economic policy for the Empire,. ..The political and economic dislocation in Europe has lirid ' a vital effect upon the trade of the world, and events of a political l.ature that may occur at any time must particularly affect British trade. A reparations settlement, authorities have pointed out, would mean

that Grcrntnny would be free to pour forth tremendous, quantities of manufactured' goods, "which woijdd be offered at very cheap prices. 'Her exports would at once come' into competition with the products of Eritish industiy. Britain, moreover, is meeting increased competition from the United States, as well as from European countries, and finds the world's ;markets less favourable than they were. This means that circumstances are conspiring to compel Great Britain and the .Dominions to safeguard their own economic interests. The Dominions dearly would be gainers if they could consolidate End develop their trading'and financial relations with r the Mother Country, but they have ; to recognise that before their desires can be realised important changes of policy must be made by the Imperial authorities. The latter should be more willing than they have hitherto been to give consideration to the ideas of the. Dominions, for the Mother Country ',4 economic problems arc of some magnitude, and the extension of trade within, the I Empire will afford a partial solution 'of them. The Economic Conference will have an opportunity to. propound a trade policy of the greatest importance to t.hc whole Empire, and in order that this work may be done efficiently every representative at the Conference j should be able to state clearly and fully ! how far his country enn ge in econ- | omic co-operation with the rest of the ! Empire. The Government and Parlia- [ ment of New Zealand will do well to J consider the question of representation 'at the Economic Conference.