ECONOMIC MATTERS

New Zealand Times, Volume L, Issue 11648, 12 October 1923, Page 6

ECONOMIC MATTERS

HR BRUCE'S PROPOSALS RAISE LARGE ISSUES ** BIGGEST ATTACK ON FREE-TRADE SYSTEM ” DIFFICULTIES OF OVERSEAS SETTLEMENT NEW POINT OF VIEW REQUIRED Mr Bruce’s speech at the Imperial Economic Conference is hailed by the “Morning Post” as “the biggest attack on the freetrade system since the passing of Chamberlain.” A committee of the Conference will investigate Mr Bruce’s proposals. Addressing the Conference on the question of Empire settlement, Mr Amery said that immigrants should not be regarded as so much additional labour power, but as new citizens.

SETTUNC TO WORK GERMAN PROBLEM DISCUSSED. CLOSE ATTENTION. LONDON, October 10. The Conferences have settled down to strenuous work, with morning and afternoon sessions. The meetings of the Conferences have been arranged to avoid clashing. The Imperial Conference, which was postponed for two days to enable Mr Baldwin to visit Edinburgh, will resume the discussion on Thursday of the British policy regarding the German situation, which is receiving the closest attention of the delegates. ATTACK ON FREE TRADE PAINED SILENCE IN BRITAIN. MR BRUCE’S PROPOSALS. Australian and N.Z. Cable Association (Received October 11, 8.50 p.m.) LONDON, October 11. The “Morning Post,” in a leading article, beaded “Thp "Walls of Jericho,” says: “The great part of the British Press maintains what might almost be called a pained silence concerning the treat issues raised by the Conference, ut in this silence, which can be felt, Mr Bruce’s great speech rings out all - the more clearly. We might compare it with the blast from the trumpets which brought down the walls of Jericho. “Air Bruce’s is the biggest attack on the free-trade system since the passing of Chamberlain.” The “Morning Poet” proceeds to summarise Mr Bruce’s proposals, and concludes: “It is on broad grounds such as these that Mr Bruce’s speech will appeal to the workers in Britain. Its effect on the Conference has been immediate. A committee will no doubt report to the present Conference. Thus inside and outside Whitehall reverberations have been started which, we hope, will result in a total transformation of the economic scene.” A VEILED THREAT ? TO SELL GOODS ELSEWHERE. Australian and N.Z. Cable Association. (Received October 11, 7.35 p.m.) LONDON, October 10. The “Westminster Gazette” say 9: “Mr Bruce is quite frank about tariff policy, for which we may be grateful to him. There i 9 no pretence ,of being satisfied with the duties on peaches, apples, and plums, which our Government offers as a sop to colonial ■wishes. l?r Bruce is out for a wholehog tariff, and scarcely veils his threat that if he does not get what he seeks from ua he will carry his goods elsewhere. “Yet his whole scheme is one of shifting troubles from the shoulders of the dominions’ producer to those of the British consumer, who is already carrying a weight of taxation unequalled in the world.” NO GUARANTEE AUSTRALIAN PREFERENCE. Australian and N.Z. Cable Association. (Received October 11, 8.50 p.m.) LONDON, October 11. The Central News Agency’s political correspondent says: ‘ ‘Mr Bruce’s speech has excited both admiration and wonder. It is criticised, however, on the ground that it does not guarantee the ability of Australia to maintain the existence of preference to British goods.” The “Daily Telegraph” says: “The Government’s proposals take no account of the increasingly important wine trade with Australia and South Africa. There is general hope that this matter will be given further consideration. The decision to appoint a committee of inquiry into Mr Bruce’s proposals will be generally approved. This old and well-settled country, with its high prestige, can co-operate with the younger nations to their advantage as well as our own.” “CITIZENS-NOT LABOUR” IDEALS IN IMMIGRATION. MR AMERY’S REVIEW. Australian and N Z. Cable Association. LONDON, October 10. Mr L. C. M. S. Amery addressed the Economic Conference on the question of Empire settlement. He made a strong appeal for the co-operation of the dominion in settling population overeeas. It was essential to remember, he said, that the full effect of the policy of economic co-operation and Empire development was largely handicapped by the wholly unsound distribution of the population of tho Empire. “We have some seven million square miles of territory suitable for white settlement, full of every resource, agricultural and mineral, while threefourths of our population are huddled together on less than a fiftieth of the area. The congestion in this country has reached the point whore it directly clogs the efficiency of industrial production by all the social reactions it has created in the body politic. On the other hand, in tho dominions the inadequacy of the population adds to tho cost of production.

x NEW ZEALAND'S LIBERAL HELP. “New is very substantially ahead of any other dominion in the liberal assistance given to the man with a family. To-day a man with quite a large family can reach New Zealand on practically no more than it takes to send a man and his wife alone to Australia.” Mr Amery said he hoped the do T minions, in framing their regulations, would give substantial preference in regard to the migration of British subjects. He emphasised the value of the group system. It was essential to recognise the importance of the social and gregarious side of the people. Another important aspect was that closer settlement was very economical, and meant a much greater amount of production for the same amount of capital, and was better than peppering people over a vast surface of country. REAL SOCIAL REFORM. , “We have to make the people of this country understand that Empire development is the only social reform that is writ large. On the other hand, there is difficulty in the dominions, where you have the type of person who simply thinks -of immigration in terms of getting cheap and adaptable labour. He would prefer a sheepskin-dad Galician, regardless of what kind of citizen he makes, to the less adaptable, but in the long run sturdier, Briton. You also have the ( labour objection, which simply thinks’ of competitors. ” “Now, we have to create the point of view which thinks not of the recruiting of labour, but of the recruiting of citizens.” While he fully agreed that Empire settlement could only go hand in hand with trade development, he felt it was the basic element of the whole development problem, and, further, was also the key to the defence problem. NEW ZEALAND’S POLICY REPLY TO MR WIGNAT.L. LONDON, October 10. In an interview published in the “Morning Post,” Mr Massey replies to the cabled. complaints of Mr J. Wignall regarding the New Zealand immigration policy—the alleged absence of a settlement scheipe, house shortage, and excessive rentals. He says it is not plain whether Mr Wignail is voicing his own conclusions or the considered views of the commission, of whioh he i 3 a member. Mr Massey explains that New Zealand dpea not limit her immigration activities to actual settlers, but also welcomes artisans, skilled workers, agricultural labourers, domestic, ana industrious people generally. REMOVAL OF DUTIES PROOF OF BRITAIN’S WISH. MR MASSEY’S COMMENT. • (Special to Press Association.) LONDON, October 10. Mr Massey says he regards the British concessions on dried fruits as an instalment, and as evidence of the earnest of the Home Government to recognise the requests of the dominions. _ He says the aspect of preference in which New Zealand is- interested is being considered by the committee which investigated the various ways possible to give advantage to the dominions’ produce. Mr Massey is also pushing for an amendment of the Merchandise Marks Bill, to give differential marking for produce of the Dominion. DETAILS OF PROPOSALS. Reuter'* Teleerem. LONDON, October 10. Details of the Government’s preference proposals show that a duty of 10s 6d per cwt will be imposed on dried fruits like afrples, pears, or peaches emanating from non-Empire countries, and 5s a cwt on non-Empire-grown preserved fruits, including canned fruits. PUBLIC CONTRACTS PREFERENCE TO DOMINIONS?. I?eut<»r'« TelAsrraT” (Received October 11, 5.5 p.m.) LONDON, October 10. The Economic Conference is discussing the question of preference in public contracts throughout the Empire, and also the position and future of tho Imperial Institute. MR MASSEY RECEIVED BY THE KINO. (Special to Press Association). LONDON, October 10. Mr Massey was received in audience by tho King at Buckingham Palace this morning. Mr Massey personally offered His Majesty loyal greetings from the Cook Islanders and Samoans, as requested by them during his Homeward voyage.