COMMERCIAL AND INDUSTRIAL POLICY

Dominion, Volume 11, Issue 188, 29 April 1918, Page 6

COMMERCIAL AND INDUSTRIAL POLICY

COMMITTEE'S REPORT (Eec. April 28, 5.5 p.m.) London, April 27. Tho report of the Committee ou l'ostWar Commercial and industrial Policy (under tuo chainnaushiy of lard Uailour of Jiurleigh), reahu'ins in the mam the recommendations it made in February of last year. ... Tho committee adds: '"lhough it will be necessary to continue'to control the Home and foreign trade for rome time after the war, the Government should restore the normal industrial conditions as quickly as possible. Stato control and restrictions of industry are detrimental under normal conditions. Tho committee considers that wim tne stringent permit regulations it will uot bo necosary to prevent present enemy subjects establishing agencies or holding an interest in commercial .and industrial undertakings in Britain, particularly as regards the use i-f .the London credit or insurance snd reinsurance "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 under a guarantee of the United Kingdom and certain Dominions Mid colonies, the committee opining that industry e financial needs, will bo met more eftectively under private bunking enterprise. The control of capital issues should be relaxed ns rapidly as possible. Bearding the fiscal policy, Governments Action should be taken to promote and safeguard the development of pivotal industries on which other, industries of national importance depend. An effort should be mode to develop trade between the Empire tnd its Allies; also, for a time at least, rresent enemies should not be allowed to trade with the British Enipiro in the tame unrestricted manner as before the war, or on equal terms with Allies and neutrals. Importations of goods ci enemy origin should be prohibited 'or. a year after tho war or longer. Pretereutial treatment should Iμ accoritd Jiritish oversea Dominions and posscsions, witli rer.nect to Customs duties • mv or hereafter imposed, and consideration .should be »iven to other forms of .Imperial preference. Denunciation of listing commercial treaties with Allies end neutrals •vwij! •unnecessary. ' The committee does not recommend tho adoption of the metric system of .weights and measures or decimal coinage, ea the present time is hwin-ortune to nialM changes, in view of the magnitude ot disturbance. ■ Lord !.\iringdon nnd four other mombers of the committee recommend a general tariff of 10 per cent, ad valorem oil all wholly or mainly, manufactured articles imported.—Aus.-N.Z. Cable Assn.

TTho committee in February, 1917, recommended: "In view of the cxpenonce of. the war, special steps ought to be taken to stimulate tho production of foodstuffs, raw materials, and manufactures within the Empire wherever expansion of production is possible and economically for the safety nnd welfare of ths Eni-pire; therefore, the Imperial Government should declare cdherence to the principle of preference for products and manufactures .from the Dominions in reepKit to "any Customs duties now or hereafter imposed on imports from the United Kingdom. Further, the committee is of opinion th.ut it will bo necessary soon to consider as 'ne of the methods of achieving the above objects, the desirability of establishing a wider range of Customs duties which would be remitted or reduced en piodncts nnd manufactures throughout the JSinpilro, and which would form tho basis of commercial treaties with British Allies and nieutral coiintriok"!