FISCAL POLICY.

Otago Daily Times, Issue 21102, 12 August 1930, Page 7

FISCAL POLICY.

LORD DERBY'S CONVERSION. “A FREETRADER NO, LONGER.” NON-POLITICAL BASIS," (Feoh Ode Own CoBBESPoibEKT.) m. TONDON, Jupe 27. iL clared himself to be no longer a Freetrader, but. in favour of safeguarding.' * • ma £i *r 1B announcement at a luncheon given the. Liverpool Chamber of Commerce on Wednesday. . You have sent , out lately," he said, ~ Questionnaire >on matters—safeguarding, tariffs, and Freetradfe—which, up to npw, have been a battlefield between poll- " tical parties, l.wish wo could stopthst' and really consider them irrespective- of parties, not as to what is good for votes, ■ but what is, good for the country,:' T 4s_you have put this Questioanaire,” Lord Derby 'proceeded, "it is only right tbat 1, wno have been your president now 1 ' for 20 yekrs, should say Quite briefly, and not in any political spirit; what my own views are. Bwas’brought up in a Freetrade school. ' 1 have , been a Freetrader all my life,- I am'one no longer. . I believe, myself, that as foreign markets have to. a Certain extent been lost to us, some of'them never to'be regained, we have got to do all we possibly can to protect .our.home markets. • “I myself 'am: strongly ' in, favour of legitimate t safeguarding, carefully considered, taking , care that while you, are helping one person you are not bringing destruction to another. . , “ I say that, even, more forcibly now, after my visit'to America, because I see in America all the'prospects of an early rehabilitation of her industry. She will over-produce for herself. Where 4s she going to sell her surplus? Unless yon are prepared to meet that, and'meet it before it comes, it may be you will find yourself in an even more difficult, position than at ; the present moment, f THE IMPERIAL CONFERENCE. “Another bone .of contention just now," Lord Derby stated, “is the Question of ' Imperial preference. I hope those who go into the Imperial Conference in the autumn will go free from all bias, and that they will remember this —that, probably, it is the last time and the last opportunity tbat we may have of drawing, ourselves closer to the dominions and the dominions closer to, us. '■ It may .be the last opportunity—it will be, in; my opinion—of being able to arrange some form not of Imperial Free trade, Because that is a misnomer—there never can be - wholly Imperial Freetrade—but, at all events, of reciprocity that shall be good for both. “Let us have it clearly argued, clearly, stated, and then let those of you who are business mem whatever your politics, see both sides of. the balance sheet, and decide whether any sacrifice you may be called upon to make is worth while to get what is offered to you. ■ “ I fed that it is to yon, and you alone, that wd ought to make an appeal to eon-' aider and give your decision as to theaction that ought to be taken by whichever Government is in power, either now or in the future.”—(Applause.)