ECONOMIC UNITY ADVOCATED.

Timaru Herald, Volume CXXV, Issue 18616, 11 July 1930, Page 9

ECONOMIC UNITY ADVOCATED.

Empire’s Only Salvation. BANKERS AND TR ADES UNIONS IN AGREEMENT. United Press Association—Ev Electric Telegraph—Copyright LONDON. July 9. When asked in the House of Commons, when he would give an opportunity to discuss the report of the Economic Committee of the General Council of the Trades Union Congress, and the manifesto issued by the Bankers in favour of an Empire economic unity, Mr Ramsay Macdonald said he could not provide time to discuss the pronouncements of outside bodies. REVOLT OF LABOUR MEMBERS. ANOTHER AMENDMENT TABLED. United Press Association—By Electric Telegraph—Copyright (Received July 10. 10.40 p.m.) LONDON, July 10. An amendment to Mr Baldwin's censure motion has been tabled by the Labour Left wingers, including Mr E. F. Wise. Mr J. Beckett. Mr I. McGovern, Mr Oliver Baldwin, and Miss Jenny Lee. declaring that neither free trade nor protection is a remedy for unemployment, and anks the Government to rescue British agriculture from ruin, by first establishing import boards for principal foodstuffs and raw materials wh :h would enable the guaranteeing of remunerative prices to British agriculturists for their produce, in order to avoid the disastrous effects of speculation and dumping; (2) to build up British exports by reciprocal arrangements in connection with bulk contracts; (3) to leorganise, on national lines, the importing and exporting machinery of staple trades to deal with unfair competition. DOMINATING TOPIC OF THE DAY. POLITICAL PARTIES ACTIVE. The resolution passed at a meeting of bankers and industrialists last week in favour of urgent measures being adopted for the promotion of Imperial trade which are needed to secure and extend the market for British products, is the dominating topic in political and business circles. It is recognised everywhere that it will provide a very strong impetus to the cause of Empire economic unity. Conservatives welcome the pronouncement as justifying the action of their leader, Mr Baldwin, in putting the economic issue in the forefront of his programme. The supporters of Lord Beaverbrook claim that the resolution is a staggering triumph for their cause. The Liberals, at first were dumbfounded and unable to minimise the importance of the document, including as it did the signature of their own exChancellor of the Exchequer, Mr Reginald McKenna. They are apprehensive lest the disappearance of free trade will endanger the party’s independent political existence and that an attempt to launch a counter manifesto would be found to be formidable. Labour opinion is divided. A growing section of that party is inclined to experiment with the tariffs. Pronouncements are expected at an early date from all three parties. Bankers’ S.O.S. At a meeting of a group of bankers and others at which Sir Eric Hambro presided, a resolution was carried in favour of urgent measures being adopted for the promotion of Imperial trade which are needed to secure and extend the market for British products. The resolution added: We believe that an immediate step for securing and extending the market for British goods lies in reciprocal trade agreements between the nations of the Empire, as a condition of which Britain must retain an open market for all Empire products while being prepared to impose duties on all foreign imports. f Trades Union Support. A Committee of the Trades Union has also come out strong for protecting English manufacturers and for a great Empire economic union. This is the last thing that Mr Snowden wants. But the rank and file is coming over. This remarkable and unanimous memorandum on the policy to be followed at the Imperial Conference is signed by the following powerful members of the Economic Committee of the General Council of the Trade Union Congress; Mr John Beard (chairman of the Trade Union Congress), Mr Ernest Beaven (Transport and General Workers’ Union), Mr Ben Tillett, M.P. (vice-chairman of the General Council), Mr George Hicks (Union of Building Trade Workers), Mr John Hill (of the Boilermakers), Mr E. L. Poulton (Boot and Shoe Operatives), Mr Arthur Pugh (Iron and Steel Trades Confederation), Mr T. Richards (Miners’ Federation of Great Britain), Mr Will Thorne, M.P. (General and Municipal Workers). This Charter shows that trade unionists are dead against the Free Trade of Mr Snowden and Mr Macdonald. The Country’s Needs. Mr W. K. Whigham, a director of the Bank of England, and organiser of the bankers’ meeting, has sent a letter to Lord Beaverbrook, in which he said: "The bankers’ manifesto is but further evidence that the country needs and wants now, without waiting for a referendum, Empire free trade on the lines you advocate. “You have awakened the nation

to a sense of its peril. Conditions are too serious to listen to the bickerings of political groups. The leaders of Empire free trade must put the policy now to the British working men and women, who have never flinched from a bold decision when the case was frankly stated.” Challenge to Labour. The further development in the Empire trade controversy has taken the form of a vote of censure upon the Government which the Conservative ex-Ministers have decided to mave at an early date in the House of Commons. The motion, in the names of Messrs Baldwin and Neville Chamberlain, is phrased as follows: —“That this House believing that a return to prosperity can best be promoted by safeguarding the home market against unfair foreign competition and by expanding the export market by reciprocal trade agreements with the Empire overseas, regrets that the Government has reversed the policy of safeguarding, instead of extending it, and has arbitrarily excluded from consideration the imposition of duties upon foreign foodstuffs to obtain equivalent advantages for British manufacturers and agriculture in Empire markets and elsewhere.” The Empire Industries Association’s executive passed a resolution cordially welcoming the bankers’ manifesto, and demanding a united effort towards Imperial economic unity.