CHAMBERS CONGRESS

Otago Daily Times, Issue 23005, 7 October 1936, Page 10

CHAMBERS CONGRESS

EMPIRE TRADE THE TAXATION HANDICAP MONETARY POLICY STABILISATION OF CURRENCIES (Per United Press Association) WELLINGTON, Oct. 6. The Empire Chambers of Commerce Congress resumed this morning. Sir Albert Atkey (Britain) moved a resolution brought down in the name.of the council expressing the hope that the development of Empire trade might be freed from the handicap occasioned by the taxation imposed'in certain Empire countries and States upon British non-resi-dents trading through agents in such countries and States, unless the stocks are held by a resident agent, or the agent has general authority to make contracts or. behalf of his principal or there i. a branch of the management in the country where the business is transacted. Sir Albert said he thought the object of doing away with dual taxation was sufficiently clear, and he looked for unanimous support for the resolution. Mr F. W. Cook (Britain) seconded the resolution, which was carried after a brief discussion. Mr Aiton .(Derby), on behalf of the council, moved a resolution in regard to monetary policy—That the congress viewed with satisfaction the attempt now being made to stabilise the franc, dollar, and pound sterling in relation to each other, and urged his Majesty's Governments to do everything in their power to promote speedy success. The congress was convinced that complete success could not be ensured until all nations stabilised their respective currencies in agreement with the franc, dollar, and pound. It was further desired to emphasise the importance of the statement of the British Government that the requirements of internal property in Empire countries must be taken fully into account in the policy towards international monetary relations. Congress also laid stress on the withdrawal, as far as possible, of restrictions on financial payments, exchanges, and trade, if money is to follow its natural course of furthering to the best advantage the development of commerce generally. . Mr Aiton, in the course of his speech, said he was sorry to see that in New Zealand some people had been bitten by the Douglas Credit bug, and thought they could get something for nothing. Nothing could be got for nothing. Depreciation of currency could no' continue. It was a form of disease to which politicians were particularly susceotible, but a disease that they should be inoculated against before they became politicians. They were not out to offend anybody, and if they were wise no offence would be taken. Mr Barclay (London) said it was not credit that was the basis of wealth, but wealth that was the basis of credit. They wanted in London to encourage the colonies and to lend money; but they must make the condition that they were credit-worthy. Professor Hytten (Sydney) did not agree'that*the exchange should be stabilised, and moved to add the words " as far as interna) conditions will allow" T' is found support, including that of Mr Machin (Christchurch), who said that in regard to deflation of currency, New Zealand now found her- >lf in very good company. Mr Martin (Wellington) assured the British delegates that the prices New Zealand was receiving, even to-day in Britain, were such that she could not carry on without the exchange. "We would be obliged to reduce our importations to a very serious extent," he said. Replying to the amendment, Mr Aiton said that despite all that had been said, he was unrepentant. What had been done by the exchange rate could better have been done in another way. The amendment was lost and the resolution carried by a larger majority. CALENDAR REFORM A resolution in regard to calendar reform was moved by Mr Barclay (London), urging his Majesty's Governments throughout the Empire to use their influence to secure the adoption of a perpetual 12 months calendar, divided into equal quarters of 91 days, with New Year's Day undated, and a fixed date for Easter. The mover mentioned that the matter was to come up before the League of Nations next year. The motion was carried with a few dissentients. INVITATION TO CENTENNIAL An invitation to the oversea delegates to the congress of Chambers of Commerce of the Empire to return to New Zealand for the centennial celebrations in 1940 was extended this afternoon by the Minister of Interna] Affairs (Mi W E. Parry) If the delegates could not be present at that time, he said, they could help to make the celebrations a success by recommending their friends to visit New Zealand in 1940 when New Zealanders would " keep open house." Mr Parry made reference to New Zealand's political experiments and also to the Maori race and to foreign elements in the blood of her people. It was their happy experience with these, he .-?aid, that had made New Zealanders such staunch supporters of the League of Nations. He referred to New Zealand's accomplishments, particularly in sport but also in literature and arts. Ht admitted that New Zealand in the past had made mistakes, some of which were obvious. It would be her duty with her coming of a in 1940 to create a national spirit and rectify them. That spirit would not sunder the bonds of Empire, but would give Britain a grown-up family of virile sons in place of a tribe of dependent children. UNIFORM LEGISLATION A resolution was adopted reaffirming the opinion of th" congress as to the benefits to mterImperial trade which would result from uniformity within the Empire of legislation on the lines of the British Carriage of Goods by Sea Act, and accordingly urging upon the Governments of New Zealand. South Africa, the Irish Free State, and Malta the desirability of enacting similar legislation at the earliest possible date.