THE ENEMY'S ECONOMIC STRENGTH

Dominion, Volume 9, Issue 2776, 20 May 1916, Page 5

THE ENEMY'S ECONOMIC STRENGTH

HAVE WE UNDER-RATED IT? DISCUSSION IN.:HOUSE OF, , " COMMONS By Telegraph—Press Association—Copyrleht London, May 18. On the second reading, of the. Finance Bill in the House of-Commons, Mr. W. A. S. Hewins said that people liad underrated Germany's economic strength. eH complained of tho policy of straining free trade to its limits instead'of considering othor policies. Unless steps wero. taken, many firms would bo ruined after the war. The policy of prohibiting imports had broken down; a tariff was tho only remedy. The l'aris Conference was the most import-ant of modern times. Everything depended on our initiative. Tho Government should announce preferential treatment of the colonies and the Allies. Mr. Austen Chamberlain (Secretary, of; State for India) agreed that it was , unwise to found hopes -upon Germany's economic exhaustion. We must lely on our own strength. The condition' of our finances, after the unexampled strain, showed that we could continue'the'strug. gle as long as was necessary. The revenue returns exceeded the estimates, and proved that we were not over-straining our resources. ; He agreed that industry and commerce would require "careful consideration after tho war. He did not doubt that the' Various parties would evolve an agreement for tho work of. reconstruction. Certainly the Government must help to organise and support tho industries. .We had already immensely advanced towards an . agreement. He : was not bound t!o his exact, pre-war tariff policy. Ho hoped that a new system wonld. be formed on tho basis of a'jNa tional : and Imperial policy: