INTER-IMPERIAL TRADE AS BANKERS SEE IT.

Star (Christchurch), Issue 19154, 21 August 1930, Page 3

INTER-IMPERIAL TRADE AS BANKERS SEE IT.

A meeting of bankers was held at Hambro's Bank in London, on July 2, at which Sir Eric Ilambro presided and at which the following resolution was passed:— It was resolved that urgent measures for the promotion of inter-imperial trade are needed to secure and, extend the market for British products both at home and through the export trade. Bitter experience has taught Great Britaiin that the hopes expressed four years ago in a plea for the removal of the restrictions upon European trade have failed to be realised. The restrictions have been materially increased and the sales of surplus foreign products in the British markets have steadily grown. While we retain the hope of an ultimate extension of the area of free trade throughout the world, we believe that the immediate step for securing and extending tlie market for British goods lies in reciprocal trade agreements between the nations constituting the British Empire. As a condition of securing these agreements Great Britain must retain her open market for all Empire products while being prepared to impose duties on all imports from all other countries. A copy of the resolution, was sent to each of the party leaders. It was officially announced that the following were present at the meeting, in addition to Sir Eric Ilambro:— Mr Walter Whigham (Bank of England), Sir Herbert Lawrence (Glyn’s Bank), Sir Harry Goschen (the National Provincial Bank), Mr R. H. Tennant (the Westminster Bank), Sir George May (the Prudential Assurance Company), Lord Ashfield, Mr E. R. Peacock (Baring Brothers, Limited), Mr Beaumont Pease (Lloyd’s;, Mr Vivian Hugh .Smith (the Morgan Grenfell Company),' Lord Glenconner, Sir Alan Anderson. Mr Reginald, M’Kenna, Sir Harold Snagge, and Lord Bearsted.