FREE TRADE

Hokitika Guardian, 1 December 1930, Page 2

FREE TRADE

A RUMOUR DENIED. MR SNOWDEN’S DECLARATION. LONDON, October 23. “An unfounded rumour appeared in the Press that the Government was considering an nil-round 10 per cent, import duty for revenue purposes, No Government in which I. am in charge of the national finances will ever give serious consideration to a proposal like that.” This statement was made by Mr Snowden, Chrancellor of the Excheqer, at a “non-Party” Free Trade demonstration at Manchrester. The introduction of a tariff system into this country would strike at the purity of the political life of this nation. Parliament would become a sink of corruption. Members of Parliament would go there, not to represent national interests, but pledged to support the selfish interests of particular industries.

One of the great causes of the world’s depression to-day was protection, because it reduced the purchasing power of the people. Within the last few days protection and protectionist policy had been embodied in a political programme. He would not say that it was the last edition of that programme. Lord Beaverbrook and Lord Rothermere were dissatisfied with Mr Baldwin’s pronouncement. He did not see why they should be. He would not be dissatisfied with it provided he could tie down Mr Baldwin for a week. Every trade was to be protected, but there was to be an emergency tariff. A more criminal proposal was never made than that without any enquiry every industry in the country should he thrown into a state of complete uncertainty and dislocation. Dominions’ Attitude,

Mr Snowden said that the Dominion Prime Ministers had made it clear what their policy was, They placed the interest of their own Dominions first, and Great Britain next, and foreign countries in the categories of “also ran.’’ They were asking that we should change our fiscal policy in order to give preferential rates on the produce they sent to this country. That, meant there could not he Imperial preference between this country and the Dominions unless there was a tax on food. “Once begin a policy of protection and you are on the slippery slope that leads to the bottomless pit.

“There is behind this movement for protection and tariffs a sinister attack upon wages—and 1 speak of what I know.”