BRITISH TRADE

Evening Post, Volume CVIII, Issue 152, 24 December 1929, Page 9

BRITISH TRADE

SOME OF PROBLEMS

HEALTHY DISCUSSION

(From "The Post's" Representative.)

LONDON, 4th October.

Sir "Walter ltai.no (president) wan in the chair at the autumnal meeting of the Association of British Chambers of Commerce held in Edinburgh on 3rd October.

Ho said during tho past twelve months thcro was no doubt that trade had come out of tho "Slough of De-

spond," but just at the moment there was a feeling of hesitancy, owing, first, to the financial outlook, and, secondly, on accftunt of the uncertainty of the result of the coal negotiations.

"I say without fear of contradiction," he added, "that everything points to a continuance of this prosperity in an even greater degree if the Chancellor will continue to show that same grim opposition which he displayed recently "at The Hague'to any increased national expenditure, and if the Government will resolutely refuse to take any impracticable steps merely to satisfy tho demands of impracticable agitators, which may at the same time vitally injure the coal trade. On tho bthor hand, should the Government act differently, the industrial structure, which, amid so many difficulties, has been, in courso of erection during tho past few years, may easily fall like the proverbial house of cards, and nobody can accurately forecast the dire consequences which may ensue."

AUSTRALIAN BOKXOWINO.

Eeferring to the Australian Economic Mission, Sir Walter said for some considerable time the commercial community, and particularly those engaged in banking, had been much concerned about the financial position' of Australia.

When the Economic Mission was decided upon, tho executive, after caraful thought, committed to paper what had been in the minds of those engaged in trade and commerce in this country, and, at the same time, in the most respectful manner, suggested that we might be of service to the Australian peoplo themselves. It was always necessary to be careful in any attempt to interfere with other pooplo's affairs. When tho objects of tho mission were fully appreciated, ihe delegates were received with open, arms, and their counsel was eagerly sought after, and is already, in certain respects, being acted upon.

ECONOMIC UNION.

Sir Gilbert Vyle, ex-president of tho association, moved a resolution to the offoct "that the British Chambers of Commerce notes the proposal brought forward at the League of Nations to form a European Economic Union, and the executive council of tho Association of British Chambers of Commerce to consider at tho earliest moment the possible effect of such a union on the trade and commerce of the British Empire."

Since the League of Nations was inaugurated there had been many meetings of distinguished representatives of the countries of the world held at Geneva. As a result of their deliberations conferences on various subjects had been called which had formulated policies for the betterment of world conditions.

During the past four or five years in ordor to set Europe on her feet, thero had been a number of schemes and prop?s*!i brougut forward by statesmen of different countries. Many of these proposals had been pursued, and no doubt some had resulted in progress towards a settlement of diflicult conditions. Some had been adopted and shelved.

Up to the present," lie added, "it has taken only the form of a proposal that the States of Europe should combine in'some way in order that they may trado with ono another and with the world with greater freedom and facility than is possible to-day. "Apart from political considerations, it seems to me it means that the States of Europe shall agree together, for commercial intercourse, to form themselves into one State, and having done so well, shall agree either to leave their Customs duties and tariffs against one another as they are to-day or lower them or to remove them altogether. It means, too, I think, that these same countries shall agree together to protect themselves against the rest of the world outside by either retaining existing duties or by increasing them as may be found most effective." -

BASIC SOURCE OF WEALTH.

Sir Robert Hadfleld supported the scheme for an Empire Development Board.

Hesaid the position so far as Great Britain was concerned could bo stated briefly. "We are carrying an unprecedented burden of taxation, we have a teeming and ever-increasing population to support, and we make heavy expenditure on or for the benefit of the rest of the Empire. The basic source of our national wealth at home lies in our industries, and these cannot pay unless they are allowed to earn a satisfactory return. Ido not believe that any scheme for Empire development could be put into force without wholehearted Co-operation between all parties and a considerable amount of 'give and take.' If we aro all prepared to make vigorous efforts along these lines there can be no doubt that every part of the Empiro Will be richly rewarded by the advance in its material prosperity."

The City considers that the idea of Sir Eobert is worthy of early and serious consideration.