BRITISH PARLIAMENT

Hokitika Guardian, 8 July 1925, Page 2

BRITISH PARLIAMENT

[Australia A N.Z. Cable Association.] PREI'ERENI E DEBATE. LONDON. July 7. A notable feature of the House ol ('omnion s' deflate was a speech by live Liberal. Captain (Blest, vv lhi advocated a wide development of Imperial preference es the old v remedv lor the trade depre-sion. lie quoted the loud imports from the Dominions and from foreign countries. lie declared it was obvious the Dominions could easily produce the hundred and forty million pounds worth ol foods which Britain was now Inlying from foreigners. One of the main li"e i radn arguments had disappeared, he said, since live net ol living had risen to the American level. The cost in Britain now was slightly higher than in Eranee, Italy and Spain DuL was lower than in Germany and the Balkan States. Captain Guest coneluded : " We should create a live trade Empire, with high tariff walls against the world. The main obstacle to emigration would thereby be removed.' 1 LONDON, .July fi. An interesting summary of the condition of British Trade was given by Sir Cuulill'c Lister, in introducing the Board of Trade Estimates in the House of Commons. He stated that (luring the first six months of 1925. the coal ami nig iron outputs respectively were 92 per cent ond (17 per cent of the 1923 figures respectively. The coal output was steadily falling. The coal exports had diminished 25 per cent., steel production was unchanged, hut was lower in proportion and shipbuilding, and the engineering business was narrowing. The onlv exceptions to the general depression therein were motors, which were booming, and cycles and the electrical imlu-try, which were comparatively a bright spot, and the chemical industry was progressing. The shipping freights were the lowest on record and so long as they were doing a world trade they could not lie disinterested in the political and economic conditions of other countries, lie emphasised the necessity ~l' developing a Dominion and Colonial trade oil commercial and political grounds, lie sail the world produclon in iron and steel largely exceeded the world’s present absorption and every ell’ort should be made to reach an international agreement.

Replying to Mr Lloyd George. Sir ('itnli!if Listin' said that Britain Miffered no kind of injury by reverting to the gold standard. He was of opinion that the present depression in trad" was only temporary. He believed they would get their trade position right if a voluntary effort were made to buy British goods. Sir A. Morn! thought the Government could partly compensate I’m the serious loss of British trade in China, by a large, bold scheme of development of Crown colonies, lie was of opinion that it would be a good investment to spend lifty millions sterling on developing transportation, especially tailways. in carrying out which works their industries mostlv needing assistance would be helped.