PREFERENCE TO DOMINIONS

New Zealand Herald, Volume LXIV, Issue 19676, 30 June 1927, Page 9

PREFERENCE TO DOMINIONS

WINE ON THE SCHEDULE. APPROVAL BY COMMONS. FUTILE LABOUR OPPOSITION. By Tetecrnph—Press Association—Copyright. (Received June 29. 5.5 p.m.) A. and N.Z.-Sun. LONDON. June 2S. Tho committee stage of the Finance Bill was taken to-day in tho House of Commons. On the clause to increase wine duties except on imports from other parts of the Empire Mr. F. W. Pethick-Lawrcnce, Labour member of West Leicester, said (he attempt to create a blood relationship by business bonds was objectionable. The best reciprocal action for tho preference given by tho Dominions was that British ships should continue to defend their shores and that Britain should allow them to float loans and secure special advantages on the British market. The member drew attention to the prohibitive Australian tariff against hosiery and other articles. He said that if they were going to have a bargain they should have a good one. Tho Chancellor of the Exchequer, Mr. Churchill, said it was better that preference should develop without, hard and fast bargains. Preferences gained by means of a commercial treaty might result in serious tension in the event of a reversal of Parliamentary policy. Tf preferences were free on both sides there would not lie a question of Parliament being tied, and they would maintain tho goodwill upon which they must continually rely to maintain the Empire. The Dominions had gratefully accepted the offer of preference on wine. The clauso was passed by 230 votes to 111. EUROPE'S ECONOMICS. TRADE BARRIERS QUESTION. DISCUSSION AT STOCKHOLM. A. and N.Z.-Sun. STOCKIIOLM, Juno 28. Trade to-day is suffering from too many and too high trade barriers, said Sir Alan G. Anderson, in opening the congress of the International Chamber of Commerce, of which he is vice-president. Each national committee must convince itself that its own trade would be helped by the lowering of its own trade barriers, said Sir Alan, and each must say so boldly to its own Government, whether it bo a free trade or a protectionist Government. None of them should recant their fiscal faiths, but they should say Hieir standards of living wero being lowered by the barriers*which threatened the best ci\«ilisation the world had known. Professor Gustav K. Cassel, the famous Swedish economist, criticised State subsidies and bounties. He urged tho insistent need for stability and uniformity, above all for an investigation as to whether subsidies could not be limited by general economic disarmament. The German Minister of Economics, Dr. Julius Curtius, said the salvation of Europe lay in tho abandonment of exaggerated protectionism and a restoration of free commercial competition.