The Wanganui Chronicle. "Nulla Dies Sine Linea." THURSDAY, JULY 13, 1922. INTER-EMPIRE TRADE.

Wanganui Chronicle, Volume LXXVI, Issue 18531, 13 July 1922, Page 4

The Wanganui Chronicle. "Nulla Dies Sine Linea." THURSDAY, JULY 13, 1922. INTER-EMPIRE TRADE.

There was a time when the self-gov-erning Dominions of the Empire were referred to as "colonies,” and only the very vaguest idea existed in the Mother Country as to their whereabouts or their possibilities in the way of trade and commerce. The people of the United Kingdom were woefully ignorant of the out-lying 5 parts of the Empire; the responsible Ministers of the Mother Country were also indifferent as to the existence and trade of the Dominions. Within the last quarter of a century, and ( particularly the last decade, the real ‘ significance of "Empire'’ has become recognised and accepted as one of the most momentous events in the world’s economic history. England to-day is the centre of a world-wide State, the immense potentialities of ■» which are now realised by Home and Dominion statesmen. In the above admirably presented historical tabloid descriptive of our Imperial development, Mr. T. M. Hogan, the Editor-in-Chief of the annual de luxe k edition of “The Importers and Exporters Journal of Australasia,” prefaces a forceful appeal for the furj, therauce of intcr-Empire trade. Mr. Hoge’s claim, which is not likely to be seriously disputed, is that insofar

I as it is possible, Inter-Empire Trade ) ■ wil not only materially benefit the I | Dominions, but will make greater , and more splendid the great Empire | of which England is the heart. The I Commonwealth of Australia and the) Dominion of New Zealand are two' of the brightest gems in the Imperial ( diadem. As time goes on the part ! these two nations must take in the|, trade of the Empire is plain. The I resources of the two countries in all the United Kingdom requires in the I way of raw materials for her manufacturing industries are almost limitless. The Mother Country is essentially a manufacturing country, and must not only be assured of a sufficient supply of raw materials, but must also have a market for her goods. The ramifications of British trade are world wide; there is not a country in the world in which British goods cannot be found. Yet, as Mr. Hogan says, it is not claiming too much to say that the needs of the i Empire could, at a pinch, be met within the Empire itself. Arising out of the lessons taught by the stern necessities of .war, large manufacturers of the Mother Country haiae started operations in Australia and New Zealand. This trade trend is one of I the happiest auguries for the future !of the Empire. Trade does not fol- | low the flag, but the flag follows | trade; and while there is no need for I the flag to follow trade in Australia and New Zealand, the investment in a Dominion of British capital means that thb volume of Inter-Empire trade must increase. The opportunities for British capital in the Commonwealth of Australia or in! New Zealand are unequalled by any other country. The undeveloped re-! sources of the two young partners in! the Empire present unexampled possibilities for the capitalist with ! energy and ability. There is hardly | an industry carried on in Great Britain which could not be established in Australia or in New Zealand with raw materials in the back-yard, so to speak, and the markets of the Pacific and the East available within easy distance for that part of the exports not required for the purpose of Empire trade. When one surveys the natural resources' of Australia and New Zealand the question arises as to the reasons why British capital has not been invested more freely, and probably more profitably, in this part of the world. With a tariff designed to protect, home industries, with cheap electric power, I and with an unsurpassed variety and | wealth of raw materials waiting to ibe utilised, tye Commonwealth ol Australia and the Dominion of New Zealand offer unrivalled opportunities for direct investment of capital. As a well-known English writer] puts it, "In many parts of the Em-] i pire the opportunity is searching for i the man with capital and foresight.” The various parts of' the ] Empire have something in the way of | service or commodities which they can offer to each other. Australia, for example, cannot afford to ignore the potentialities of the markets of

Canada, of Newfoundland, of India, of South Africa,-or of any other possession of the British Empire. Nor can those countries neglect the opportunities for inter-trade with Australia and New Zealand. An eminent Englishman once referred to the Dominions as “partners in peace and comrades in war.” Australia is a partner in the firm of John Bull and Company on an equal footing with New Zealand, and there should be no hesitation in putting into practice the principle of Inter-Empire Trade. The Editor of “The Importers and Exporters Journal”——in itself a splendid and eloquent exposition of the wonderful potentialities of these Overseas Dominions —recognises that throughout the wide-flung Empire there is a strong and growing demand for a fuller recognition of the need for a closer and more cordial trade relationship. Trade bonds are wonderfuly powerful in themselves; when allied with sentiment the combination is irresistible. Mr. Hogan’s conception of the ideal of trade within the Empire is that the British market shall be open first to the Dominion and British possessions producer and that Britain will have first preference in the markets of the I Empire. In his opinion, the responsibilities of possession are such that Australia and New Zealand can no longer refuse to take up the issue of a strong and vigorous policy of 1 Inter-Empire Trade. It is, he says, from a proper appreciation* of the

value of this relationship that i springs the spirit which is moving 1 those influenced by it, to act with } the object of not only providing for . the present needs of all parts of the t Empire, but also to establish a policy • that may be expanded and developed as the exigencies of the future may t require. No doubt differences of opinion will arise, but there is room ( for differences as to what precisely ( are the existing needs and probable 1 future needs of any particular Do- ( minion. The keystone of Inter-Em- ■, pire Trade is that there must be i agreement concerning the necessity]-' of a common policy in all that affects ] j the Empire as a whole. Those who.] are doubtful of the wisdom of pre- ( ferential trade express the fear that < it may react adversely on trade with 1 countries outside the Empire. At ; first thought there appears to be cause for the (ear, but Mr. Hogan ; contends that an examination of the commercial history of the European nations reveals that they have ; I Used the policy of preferential trade U

with their colonies without in tlie| least affecting the volume and value) of their foreign trade. It is difficult, he thinks, to see in what way the Empire can offend foreign countries! if it engages in preferential trade. | The trade difficulties which existed. during the war should not be forgot-, ten. If they taught any lesson at! all it was the need for securing the! permanent unity in trade and senti-j ment of each and every part of the. Empire for the economic advantage. of all.