BEGUN AT OTTAWA

Northern Advocate, 18 May 1934, Page 7

BEGUN AT OTTAWA

TRADE WITHIN EMPIRE MUTUAL DEVELOPMENT. MR CHAMBERLAIN CHEERED. FINANCE BIEL READ ,SECOND TIME. (United Press Association—By Electric Telegraph.—Copyright.) (Received 0 a.m.) LONDON, May 17. Members of the House, of Commons last evening cheered an unexpectedly emphatic announcement by the Chancellor of the Exchequer, Air Neville Chamberlain', in favour of development in Empire trade, emphasising that it had only begun at Ottawa. Mr Chamberlain, in the course of the debate on the Finance Bill, said it was unlikely that international trade within a period that, could be foreseen! would assume its former proportions. Therefore, two alternatives were still open. The first was the continued expansion of the home market, the limit of which by no means had been reached, and the second was the development of inter-imperial trade. Britain must find compensation in these two directions for the loss of much of her foreign trade. The House of Commo.ns passed tTio second reading of the Finance Bill by 290 votes to HEAVY COMMITMENTS. CONVERSION LOAN IMPRACTICABLE. (Received .1 p.m.) LONDON, May 17. In tho House of Commons, Mr A. O. Fuller (Conservative, Manchester) asked tho Chancellor of- the Exchequer, Mr Neville Chamberlain, if ho fcvonld consult the dominions with a view to floating an Empire loan, to convert the dominions’ heavy commitments to a lower rate of interest. This would facilitate further Empire, development and the approach of Empire free trade. . Mr Chamberlain, replied that he had every sympathy with the- object, but the suggestion was neither practicable nor desirable. The Treasury would always sympathetically consider any dominion proposal to exercise the right of conversion to a lower rate.