Taranaki Herald. MONDAY, JANUARY 25, 1904. DUMPING.

Taranaki Herald, Volume L, Issue 12465, 25 January 1904, Page 4

Taranaki Herald. MONDAY, JANUARY 25, 1904. DUMPING.

' During the ' fiscal controversy now going on in England the question of "dumping," has frequently . lJeen referred to v and generally in terms oi" strong disapproval. It is uh'ddubte'dly* 1 an unsatisfactory system of 'trading, but :t is at - least open to question Whether it is not .more unsatisfactory to the country, wiiich "'dumps'' its products than to, the country in which they are c ' dumped. " . In the first place, it is strong evidence of slack times, when a country has a large surplus of manufactures -which it is obliged to export at a toss. Even if there is no slackness, it stands Jto reason that the people in the ', 'dumping" country are helping to •pay for the requirements of the people in the countr/ T/hich receive^ the' goods, and that is not sound economy, The Americans are beginning:- to see. this, at least Herr, Goldberger, who was recentLy ;^sent . to .ttie "United States by the Germans .to study the question, is ! of opinion that the bulk of the American "people are "beginning to recogniseL 'tKat £he I( system regresents a 'present or premium to ihe foreigner for which they themselves have to pay. He /ound that the idea of the "American peril,"' which was thought to be threatening German industry, was based upon . ,the -. .anticipation that, the Americans -->wiir » : more dJid more "dump" tneir- "surplus- -manufactures upon foreign countries at prices below ;the" market value, ,or even below the post of production. But this 1 , -he says,- " implies that they will be. able permanently to iademnify- themselves JbyJ maintain^ ing. in their home markets, excessive prices, at the expense, of the American < consumer.^ ,,He belieyes that the . Arierica'ns^yij sponer . t>r later abandon their v protective policy in the belief- that its inainujefiect is to bolster up the? hopeless .endeavour to ■ conquer the .markets of the W.t^the expense oithe American.consumer^/>Bven tho American manukcturets 1 themselves- will,' he thinks, "ultimately -become convinced that a l constant ■ and ..sound f orpign, trade, which: is , a necessity' for the TTnited .'States^ can only be buift' up on tHe n >asis of p^irmatient commercial treaties, witn »f6reign . countries.. His own advice to. German inanufajctiirers is to meet American "competition by acquiring an intimate . Icnowledge Of .American conditions', and keeping that knowledge up to date by the establishment of centres of information with a' staff of practical men in tte •» leading American industrial districts. This is sound which might well be taken to. heart also by British" manufacturers. In most instances wh#re British industries have; suffered it is found, upon inquiry, that there is some special reason for the. decline, either antiquated machinery, or neglect to study requirements of, the markets . On the overhand, it is found that 'tnanufactur^ efswho are up-to-date have no cause to complain of declining trade;^ If the present controversy servfe^ no^ other purpoS^it will bring^ this laH-tcr fact to light. • , . » —^—^ — - *' •-* QUEEN'S^SCHOLAJiSHfPS. --When' the- report, of the Examiner of "Scholarships was road to the Victoria CJollege- bdtu>cil last week the question" was raised whether the scholarships were to be granted under tkeneW Act or under the Act o£lßy<. By the latter six* scholarships wero offered tar competition each j ear, the examination to be open to children of lither sex not over fourteen, years of • age. Each' scholarship was to be of the annual, yhie oV £20 if the holder prosecuted his toft* vi the town where his home was situated, or- .£49 if he lived 4waV«. from home; and the term was fixed -Lat^ five yaara. The new-Act established both junior and -senior scholarship*-. Three oi the former, entitUng the holder to receive, in addition? to~ free educatidn at a secondary school, £10 a -year if living;, at home, or if living away from home, an addtt&Oa! &%> * y ear > ye *?. b 6 awarded annually, tenable u»r three

years for children in the Wellington, Nelson. Westland, Mad borough, llawke's Bay, ahd Ta'rttnaki provincial districts. According to \\w ltegistrar — and the circular sent to candidate bears him out — notices and tho syllabus were sent out in March, lIKKi, and the names of cundiilates weiv received on November oth. before the new Act. was parcel. In common fairness, therefore. Mic conditions then notified should be observed. Sir Robert Stout, howovur, suid the Council ought to treat ihe scholarships as existing 1 under fhe Act of' l\Hi'.), because the clause in the Act of ]S{)7 giving power to nwarcl scholarships was repealed by tlio Act of 1903 b"foiv tho examination. This may Jje the strict legal readingr, but it was evidently an oversight and cundidalos should be kept faith.) with in'nuy, case.' They entered under the old Act into a competition for eortafn' scholarships, and that competition should Imj carried out. The new Act ousfht to have been made ttv come into f orce soy on .January Ist. 1904. As it "^s, if the Council decides" to observe l\e. conditions of the 1903 F Act a distinct breach of faith will have I ran committed towards -candidates.