The Guardian And Evening Star, with which is incorporated the Weat Coast Times. THURSDAY, JULY 10, 1930. IMPERIAL TRADING.

Hokitika Guardian, 10 July 1930, Page 4

The Guardian And Evening Star, with which is incorporated the Weat Coast Times. THURSDAY, JULY 10, 1930. IMPERIAL TRADING.

Higiiku polities have received a special fillip from the Banker’s resolution referred to in Holiday’s cable news. Ihe action opens up the whole question of inter-imperial trading, and means that commercially there should be a closer association than ever within the British Empire. It does not mean, necessarily, the wiping out of tariffs, lor some of the countries need the customs’ revenue more than ever, but it may moan greater British preference and a squeezing out of foreign goods to a great extent. '1 hero is ot course a risk always in tampering with tariffs, and it is not always clear at the outset how the best laid schemes will work out. Besides, it is within tin? province and power of countries to hit back, so that the last state may

he worse thqn the first. British coun-

tries will require to take full toll of their best customers, and the best purchasing places. Now Zealand is a specially good cus.omer to Britain, as Britain is to New Zealand. If the Home market can he intensified it will be a. good tiling for the Dominion. An aggravated tariff has lately been imposed by the United States on New Zealand goods, and this country may well consider its right io retaliate. But generally the whole issue of the matter is going tp involve the political parties in a definite line of thought, and for sonic time the political world win be much disturbed. On the face of it, the Bankers are prepared to assist inter-imperial trading. With special credit it should be a good thing and lead to an,.important revival. A favourable .movement would assist New Zealand greatly and in point of fact the suggestion of an improvement alone will have an unlifting effect. The financial policy proposed by the British bankers, it may be expected, will reflect itself in tiie Dominions, and there should be greater credit available for trading within the Empire, both in buying and selling. At Home at present under the leadership of Lord Bcaverbrook, an Empire free trade policy is being advocated. The proposal at this juncture is not likely to go to its full length of complete free trade within the Empire, but un-

der n gradual process of increased protection, and ail exchange of certain commodities liot hearing heavily oil revenue, there is every likelihood of considerable advance to be made. The whole issue is economic, and in that respect bears intimately on the financial future of the Empire. It is aimed to improve conditions, and one assured step must be the freeing of more credit. This it itself will mean more trade, and that of course is the life-blood of nations. In this present commercial age we see countries adjusting themselves to toe new conditions. By tariffs and subsidies and freight sanctions, they, are endeavouring to hch) themfolvcs. To create more internal trade and manufacturing is

good for the domestic market, and by expanding production, create a surplus of commodities for export, thereby lessening home costs. Nations are striving now to retrieve the past with its weight of debt and liability, and Britain certainly has her full share of obligations The new proposals for the Empire open up a f esh vista in major politics seeking in the. first place to stabilise and establish the locul finances through legitimate trading. The ■'Empire is large enough to supply a very capacious market if trade is so co-ordinated to give the Dominions a special 1 preference. In the present circumstances ■of world affairs, it seems to be the one and only answer to such a gesture, as the United States has made, and should open the way as far-as New Zealand is concerned to roseate, days again.