BRITISH CAPITAL

Otago Daily Times, Issue 23671, 1 December 1938, Page 11

BRITISH CAPITAL

POSITION OF DOMINIONS ENTITLED TO PREFERENCE (United Press Association> * (By Electric Telegraph—Copyright) LONDON, Nov. 29. Brigadier-general Sir Henry Page Croft, in a speech to the Empire Industries Association, commented on the utter folly that nothing had been done to stimulate the movement of capita] to the dominions. Britain had given a loan of £10,000,000 to Czechoslovakia, but had quibbled over substantial assistance for the promotion of the dominions, who were Britain's best customers. The Duke of Buccleucb said he hoped that it was not too late io reverse the policy of foreign investment so as to give preference to the dominions. MR SAVAGE'S COMMENT "FOUNDATION OF UNITY" (Per United Press Association) WELLINGTON, Nov. 30. The influence of British investments in the overseas dominions on Empire trade and security was referred to by the Prime Minister (Mr M. J Savage), when invited in an interview this evening to comment on a cable message from London reporting ■ Brigadier-general Sir Henry Page Croft as having stated that nothing was being done to stimulate the movement of capital to the dominions. ; "At one time," Mr Savage said, "it was said that trade follows the flag, but now everyone realises that it follows investments." '"lt is just common sense," Mr Savage commented after reading the statement by Brigadier-general Sir Henry Page-Croft. " The investment of British capital* in the dominions is the foundation of migration, defence, Empire trade and Imperial unity. It definitely lays the foundation of migration for the same reason tha't it makes., the defence of the British Empire possible. It definitely expands the trade of the 'British Commonwealth and it definitely makes !"or Imperial unity all round. The Britain of the future will be spread throughout the dominions."