EMPIRE ECOMOMICS

New Zealand Herald, Volume LX, Issue 18521, 4 October 1923, Page 9

EMPIRE ECOMOMICS

' CONFERENCE OPEN.] BRITAIN km PREFERENCE. DESIEE FOR EXTENSION. | READY TO . TAKE ACTION. SIMULATION OF TRADE. Bv . Telegraph—Press Association—Copyright. " ! V (Received 5.5 ■ p.m.) ' - .A. and N.Z. r LONDON. Oct. 3. There was a very full; attendance \ of delegates and experts at the ; opening meeting of tho "imperial Economic Conference at the Cabinet offices in White-. ' hall. : .':- "'.-... .• -, Sir Philip Lloyd-Graeme, president of the Board of Trade,'■■■-•in; his opening, speech, briefly reviewed the economic situation and the : tasks before the conference. Ho expressed Britain's appreciation of the preference received from the Dominions, and said we, for our part., had definitely established the principle in our own more limited fiscal system, and wished to apply it within practicable scope to stimulate still further the development of Imperial products and Imperial re--1 sources. Any increase the Dominions were able to make in the rata of preference would be of real valuo. - We, for our part, should certainly approach the question of preference with a strong desire to increase mutual trade, and be ready and ■willing to take what action was possible to attain that end. Sir Philip Lloyd Graeme concluded by suggesting the establishment of an advisory or consultative body to discuss matters arising oat of the decisions of the Conference, and action to give effect thereto. ".'■'.' ;'."<.' Messrs. Mackenzie King, Massey, s MoGrath, Warren, Innee and Ormsby-Gore, and General Smuts made speeches in re- . jply, emphasising the tremendous possibilities of the development of trade within the Empire, which was capable of producing practically all the raw material re.quired by the Motherland. Their desire was to help to the utmost.. Mr. Massey, 'in a long speech, emjihasised the importance of the principles of preference, not merely in trade, but in migration. He earnestly hoped tha conference would not terminate before a satisfactory solution was found for the Empire's . problems, and that the work would not be confined to passing resolutions, but be translated into action. '■'.'

EXCELLENT TONE NOTED.

COMMENT IN THE, PRESS.

EMPIRE COUNCIL SCHEME.

Australian" and N.Z. Cable Association. ';) (Reed. 6.35 p.m.) LONDON. , Oct. 3. - ' The Daily Telegraph says the note j struck at the outset of Che Economic: Conference is regarded by visitors as ex- ' cellent. Great hopes ara entertained that the deliberations' will' bo fruitful in practical results. ; ( , Sir Philip Lloyd Graeme, president of 4 the "Board of Trade, made, it plain that the Home,, Government was for, a' full and frank discussion of pr ?*. -ence. There, was a hint, of what ; was •.'.-.is the minds of many. _ when he "' spoke of establishing some .means of facilitating, 1 "both for Governments and for producers! : and traders; a better pursuit of the common aim. There is every likelihood that .'.:'-.'J the conference will in, due I course be invited to express an opinionupon the proposal for establishing an : Empire Econo- ';' mic Council;.which; will be constantly engaged in the consideration of. matters affecting Che development \of the trade resources of: the? Empire as a whole. v ■■.■> The Morning Post says, it is true that Sir Philip ;: Lloyd-Graeme speaks: of a bold policy, but when : . we come to con- ■ sider Shts ' proposals theiy boil down, like

spinach, into a- small oompas3. His. sentences about preference'. aro vague and non-committaL The Westminster Gazette's political

correspondent says "that; Sir Philip Lloyd- . Graeme plumped the protectionist pro- '■-■■ posal for ;. the extension --. of ■ Imperial preference right into the i forefront 'of the ' conference. It is by monkey tricks with preference that the protectionists hope to get ;what they/ want violating Mr. Bonar Law's pledge not to change the fiscal policy ;^ during the life of the present Parliament. The ;;, Dominions' Ministers are reputed to 'favour , the. proceedings of the Economic)' Conference being ropen to the press, and /the question is bound to arise. If flie Economic'; Conference is open;/ why not the Imperial Conference?. The fullest /publicity certainly is needed.' The political correspondent of ' the Labour paper, the Daily Herald, says that, according to Downing Street's' original plan, the Premiers- were to have left the Economic Conference ,to subor-. dinate Ministers while they discussed foreign policy, and so forth in the Imperial Conference, but when the Premiers ' learnt that the two conferences were to ■ sit simultaneously ■ they/ objected. Thus the conference is sitting on /alternative, days. The Premiers will attend both.. Some doubtless are keener on the Economic Conference/ than ' the 'jether. ' The Dominions never abandoned the Old Chamberlainite policy of preference. They recognise that the Tones are protectionists at C heart and > know Mr. Baldwin's ; sympathies. How far :' will the protectionists be able to drag Mr. Baldwin's Government '' - If they drag it the whole way it would be Mr. ; Baldwin's duty to dissolve. Pariament ''and;: seek a fresh;, man, date. "

FRENCH EXPECTATIONS.

STRENGTHENING OF ENTENTE A. andYz. ~ "LONDON, Oct. 1. The- Morning Post's ;' Paris .correspondent says the Imperial -Conference -is being closely watched by the French because it is believed Mr£. BaldJ£ ™» unfold the European situation before the delegates in a. manner calculated to strengthen' the revival of the Entente, strengthen; the revi\d.ioori r . The Dominion' representatives are expected to examine: the European position from a broad standpoint ;: ;._ c — The Oeuvre ; comments: f< omce wje Chanak affair the . Dominions W not wish again to be at the.; mercy .of .an impulsive British Prime Minister;.therefore they desire > active participation in international affairs." •