POST WAR PROBLEMS

Waikato Times, Volume 89, Issue 13753, 29 April 1918, Page 4

POST WAR PROBLEMS

CONTROL OF IMPERIAL TRADE. SOME IMPORTANT REGULATIONS. (Australian and N.Z. Cable Assn.) Received April 28, 5.5 p.m. LONDON, April 27. The report of Lord Balfour of Burleigh's committee reaffirms the main recommendations as to the necessity for stimulating production. Though it will be necessary to continue the control of the home and foreign trade for some time after the war, the Government should restore normal industrial conditions as quickly as possible. State control and restrictions of industry would be detrimental. Under normal conditions, the committee considers that, with stringent permit regulations, it will not be necessary to provent present enemy subjects establishing agencies or holding interests in commercial or industrial undertakings in Britain, particularly as regards the use of London credit or insurance and reinsurance facilities. The committee does not recommend the adoption of the scheme proposed by the British Empire Producers' Organisation to establish an Imperial bank of industry with a capital of £40,000 000, under a guarantee by the United Kingdom and certain dominions and colonies. The com. mitteo is of the opinion that industry's financial needs will be met more effectively under private banking enterprise.. Control of capital issues should be relaxed as rapidly as possible. Regarding the fiscal policy, Governmental action should be taken to promote and safeguard the development of pivotal industries upon which other industries of national importance depend. An effort should l>e made to develop trade between the Empire and the Allies, also for a time at least the present enemies should not he allowed to trade in the British Empire in the same unrestricted mannei* as before the war or on equal terms with the Allies and neutrals. Importations of goods of enemv origin should bo prohibited for a year after the war or longer. Preferential treatment should be accorded British oversea dominions and possessions in respect of Customs duties now or hereafter imposed, and consideration given to other forms if Imperial preference. Denunciation of the existing commercial treaties with the Allies and neutials would be unnecessary. The committee does not recommend the adoption of the metric system of weights and measures or the decimal coinage, as the present time is inopportune to make changes in view of the magnitude of the disturbance.

Lord Faringdon and four otlier mem. Ihts of the committee recommend a general tariff of 10 per cent ad valorem on all wholly or mnialy manufactured articles imported.