CHANCE Of A LIFETIME

Nelson Evening Mail, Volume LXVI, 18 June 1932, Page 7

CHANCE Of A LIFETIME

MIGHT NEVER RETURN OTTAWA CONFERENCE STATEMENT BY MR BALDWIN DEBATE IN COMMONS (United Press Association—By Electric Telegraph—Copyright) LONDON, 16lh June. In the House of Commons Mr J. FL Thomas said:—“lf all the dominions wore as ready for Ottawa- as. is' Britain, (ho Conference would not fail for want of preparation. We do not view Ottawa as a sort of disarmament conference which has been going on for a long time. Wc must bo business-like. The .British Government will certainly go to Lho Conference prepared to stale their views on the whole question of currency.” . Referring to migration, Mr Thomas said that the only way of assuring an outlet for our surplus population was the restoration of the dominions’ prosperity, lie could not state the Governments intentions regarding meat or timber or anything else, as he was going to Ottawa witli a free, unfettered mind. Sir Stafford Cripps contended that the House ought to lie given an outline of the Government's policy, or at least the policy on the plain questions, and how far Ottawa, was going to over-ride Lausanne. They wore entitled to know whether the Government was going to offer to tax wheat and meat. Nothing was moro certain to disrupt the Empire than to make the British people to pay taxes on those foods. In order to subsidise dominion farmers with Imperial proTerences Britain could not- afford to limit her markets for her specialised products. Furthermore, the Government had given no lead on monetary questions. Mr Amcrv said that the essence of the world crisis was the breakdown of the international monetary and financial system. The gold standard ha now collapsed and nothing was attainable at Lausanne or elsewhere to put llumpty Dumpty back on the wall in the near future, but Ottawa would enable ns to right matters within the Empire. • , Referring to the Free State, Mr Amery said that there should be freedom to withdraw any preferences from those who were not lullv Maying the game (cheers). Yf Mr Chamberlain was able to announce at Ottawa that their definite aim was; to restore the price level of 1929 in terms of sterling, be believed there would be no difficulty in arriving at au agreement satisfactory to tho whole of the Empire. Mr Baldwin, replying, said that Ottawa was specially important because wo were at the parting of the ways. The whole economic pull oi the world was in the dircctipn of larger units. If the dominions did not come into closer economic union with us serious dangers might come between component parts of the Empire. The Empire was the only market in the world to which we might get preferential entrance. The colonics and dominions were the only countries in which we might hope to see the population of British stock increasing, and many of our people finding homes, llis. own .view, and the Government’s general objective, was freer or reciprocal free trade withinjlie Empire. He would bn deeply disappointed if arrangements were not concluded which would enable ns to continue indefinitely tho preference yiven in our first. Imports Duties Act. The chance of a lifetime was before us. If thrown-away, it might never return. As regards the currency question, they had to .consider at Ottawa the intor-rc-lntionslih of the various currencies and monetary standards of Hie Empire with a view to promoting conditions most favourable to mutual trade intercourse. The main thing was to get together and understand each other’s viewpoint. It might clear the air if we stated we did not want tho exchange value of the pound to rise. We do definitely want a rise in wholesale prices, but personally lie should dread the running away of retail prices. “We have no intention of returning to the gold standard as long as gold behaves as it is doing,” lie added.