TRADE & PEACE.

Wairarapa Age, 4 May 1936, Page 5

TRADE & PEACE.

MR. RUNCIMAN’S DECLARATION OF FAITH

GETTING BACK TO NORMAL INTERCHANGE. BRITAIN’S GREAT ADVANTAGE. BUGBY, May 1. The President of the Board of Trade, Mr. Walter Runciman, in a speech last night at the annual dinner of the Association of British Chambers of 'Commerce, said that Britain had one great advantage in regard to international trade. She was the greatest purchaser in the whole range of world markets. That was her strength. Some people regarded the increase of her imports as a danger, 'but that was not his view.

It was his firm belief that the rise in imports iii the last two or three years had been an essential element in the country’s recovery. Trade was no one-way street. He also emphasised that they must adapt themselves to new conditions and find a way of meeting the new problems with energy. “There is a word I would like to say on the subject of peace,” he proceeded. “Peace is not to be gained through mere emotional appeal, still less by effusive threats. Stabilisation of peace depends upon slow and careful building up of the substructure of political conditions and healthy economic relations between nation and nation. The turn which economic issues take to-day in a large part spells the destiny of to-morrow. War or peace in our time may hang upon the choice which nations are now making of the economic policy which is to rule the world.” The American Ambassador had said that the policy of the United States was based upon the belief that no nation, not even their own, with its immense resources, could be wholly self-sufficient, and that mutual removal of barriers against international trade, thereby increasing international communications, was necessary for the wellbeing of the world, and contained within itself the greatest hope for the maintenance of peace. As a rule nations were impelled to war by international economic distress. If that were true, and he believed it was, the surest method of preventing war lay in restoration of normal international trade, bringing with it a promise to the peoples of the world of a better standard of living and the hope of a fuller life.—British Official Wireless.)