EMPIRE’S FOREIGN TRADE

Taranaki Daily News, 29 September 1930, Page 7

EMPIRE’S FOREIGN TRADE

SUGGESTIONS FROM UNION ‘CHINESE WALL’ NOT SOUGHT INTERNAL TRADE TREATIES CURRENCY AND POSTAGE DOMINION LOAN OBJECTIVES By Telegraph—Press Assn.—Copyright. Rec. 7.15 p.m. London, Sept. 27. “We do not visualise a Chinese Wall round the Empire entirely excluding foreign trade,” writes Lord Melchett in a preface to a report on Imperial trade issued by the Empire. Economic Union research committee. “We definitely held the view that a overwhelming case exists for special stimulation of intra-Em-pire trade.” The report suggests trade arrangements between Britain and the Dominions involving the Dominions’ imposition of a tariff of 20 per cent, against foreign goods. Suggestions for increased intraEmpire trade include an Imperial parcel post service, secondly a recommendation, by the Treasury that houses issuing overseas loans should see that the loans are intended to benefit British industry, thirdly an Imperial currency and the creation of an Imperial economic secretariat.

The report is signed by Mr. L. C. M. S. Amery, Lord Lloyd and others. A meeting of industrialists and commercial men was held in London yesterday to consider a proposal to establish a national council of industry and commerce. 'Sir William Morris, the prominent motor manufacturer, who presided, moved two motions in favour of recasting the fiscal policy of this country and drastic reduction of taxation. The resolutions were carried lyNewspapers are unanimous that the Imperial Conference is the most important yet held in the Empire’s history. Mr. J. L. Garvin, writing in the Observer, suggests the laying down of a programme covering the policy for the Empire for a period of five years. He points out that the time has gone by for hand-to-mouth Empire economics. He wants to see a standing Empire committee foi’ trade development carrying out a plan covering a period of at least five years.