PREFERENTIAL TRADE.

Timaru Herald, Volume LXXIX, Issue 12111, 4 July 1903, Page 3

PREFERENTIAL TRADE.

United Press Association—Per Electric Telegraph—Copyright. Received 8.14 a.m., July 3rd. LONDON, July 2. Mr Asquith, in moving at the meeting of tho National Liberal Federation, a re- : solution to the effect that Mr Chamberlain's, scheme would endanger relations with tbe colonic--, and threaten the' Empire's stability, piotested against the use ol the rustv "blunderbuss cf ret;ilht-:&n. He ur"ed his countrymen tr, choose the °vre < jpor.« of precision which scisnre fore'ed and place the British on an equality with the Germ-in'-. These arms they were able , f> handle, aud they were truly the qnickfircis and long range gt'ns of the modern industrial campaign. What the colonies failed to purchase from Britain probably con-hted of commodities the Motherland was unable to supply: Preference would excite mutual jealousies in the colonies, and lead to the taxing of all raw materials comi eg to England- ■- Mr Augustine'Birrell, Presidenr of the A-wociition. in -moving a resolution calling upon" the Government to declare its fiscal policy, said thai a government without a 'fiscal" policv was unfit to remain m office for five minutes. ... • The resolution was adopter. . Mr W. Rwjcimar-. member for Bewsburv in the House of.Commons, in a letter ro the chairman of the North of England Steamship Owners' Association, recommends them to enquire into the probab.e effect of the proposed fiscal changes on tramp shipping, representing an investment:

of £120,000,000 of genuine unwatered capital, and six-sevenths of all British steamers. .He emphasises that it is likely to increase the cost of shipbuilding, instancing America, where a difference of 30 per cent, in the cost of steamers as compared with England has killed the American tramp shipping. Received 10.13 p.m., July 3rd. , LONDON, July 3. , Sir Michael Hicks-Beach has been elected chairman of the Unionist Freetraders' Com- '

. The Chamber of Commerce of Burnley by- 47 votes to 23 votes carried a resolution against fiscal change.' OTTAWA, July 2. Sir Wilfrid .Laurier, interviewed, said that<Germany must initiate negotiations for a fiscal settlement with Canada. He would accept a reasonable agreement, though he would not move another finger since Canada's advances had been rejected. Per Press Association. WELLINGTON, July 3. The Chamber of Commerce further debated the preferential trade question yesterday, but without reaching finality. An amendment to the president's motion, affirming the broad principle of preferential trade relations between the colonies and the Mother Country, was moved by Mr McLellan; in the direction of imposing a surcharge of not less than 25 per cent, on all goods or products entering the colony from foreign ports, or by foreign shipping. It was considered advisable to await further information before coming to a definite conclusion, and the debate was j adjourned for six weeks.