ECONOMIC CONFERENCE.

Otago Daily Times, Issue 19010, 5 November 1923, Page 7

ECONOMIC CONFERENCE.

PROPOSALS FOR RECIPROCITY. MANY PROBLEMS INVESTIGATED. BINDING THE EMPIRE. Pros* Association —By Telegraph— Oopyrigat LONDON, November 2. The Economic Conference will devote future sittings to the consideration of reports from expert committees, numbering nearly 20, upon the majority of which Australia ami New Zealand are fully represented. To-day the conference received reports relating, first, to the immunity of State enterprises from taxation ; secondly, reciprocal enforcement of the judgment of arbitration awards within the Empire; thirdly, bills of lading; fourthly, patents. Conference ratified the committee’s proposal subjecting State trading enterprises, including shipping (whether British or foreign), to the same taxation and other obligations as private enterprises. This resolution is without prejudice to t;he rights of State and Provincial Governments, and also not retrospective before the end of 1 924 - . „ , With reference to bills of lading, conference recommended E-mpire adoption of a common form of exporters’ invoice now used in Australasia. It recommended that the Board of Trade draw up a syst© of statistics setting out the development of inter-Imperial trade, and recommended bills of lading in accordance with the Imperial Shipping Committee’s report of 1921. Conference recommended the adoption of the proposals of the 1911 conference regarding reciprocity in judgments, subject to the approval of States and provinces With reference to the reciprocal registration of patents throughout the Empire, the conference recommended its adoption by colonies and protectorates, but was unable to make the recommendation so far as the self-governing dominions are concerned. A committee of the Economic Conference is inquiring into the Spahlinger treatment. Dr Collins, of Wellington, who has investigated the treatment, will he the first witness examined.—A. and N.Z. Cable. IMPERIAL FINANCIAL CO-OPERATION PROPOSED BRITISH ASSISTANCE. AN IMPORTANT SCHEME. LONDON, November 2. > The Economic Conference devoted a large portion of to-day’s sitting to the consideration of a report of the Committee on Co-operation in Financial Assistance in Imperial Development. The conference unanimously adopted the following resolution : “The suggestion which the Imperial Government makes is that in order to facilitate anticipation work which otherwise would not be undertaken for some years it should give a contribution towards the interest charges on loans raised for capital expenditure of this kind on public utility undertakings—namely, communications, power, lighting, water, drainage, and irrigation. These undertakings might be either under public or private control or management. Assistance would be given in respect pf expenditure on orders placed in Britain, and would be applicable only to schemes approved by i.he dominion or central Government concerned. and certified by it to be in anticipation of normal expenditure. Payment would be made by the dominion or central Government which would be responsible for payment to the ultimate recipient. It is suggested that the maximum grant might he three-fourths' of the interest charges for five years. In order to rmalify for the Imperial contribution schemes must be accepted by the Imperial Government within the next three years. The Imperial Government’s approval would be given after consultation with the Treason’', the Board of Trade, and the Colonial or India Office. It should be understood that priority will be given to schemes involving the earliest placing of an order.”-—A. and N.Z. Cable. CONDITIONS Ob' ASSISTANCE. A PROPOSAL ACCEPTED. VALUE OF THE SCHEME TO NEW ZEALAND. LONDON, November 2. The Economic Conference to-dav came to a unanimous decision to accept the proposal that if the British Government advances money to dominion .Governments, local bodies, or even private firms engaged in development works overseas,_ the material used must be purchased in Britain. If the British Parliament ratifies the proposal the scheme will be proceeded with, Britain advancing three-fourths of the purchase money of such material free of interest for five years. Mr Massey states that the proposal is of importance to the dominions engaged in development work, and he expects that New Zealand will take full advantage of its adoption.—A. and N.Z. Cable. EMPIRE UNIFORMITY. PLANS TO SECURE IT. LONDON, November 2. The Economic Conference adopted resolutions tending to secure Imperial uniformity in invoices, bills of lading, patents, and the reciprocal enforcement of judgments rendering Empire Governments engaging in trade in any other part of the Empire amenable to the same taxation and other liabilities as other trading bodies. It was also agreed to open negotiations with the object of securing" a reciprocal extension of this practice with foreign countries.—A. and N.Z. Cable.