WELLINGTON NEWS

Hokitika Guardian, 22 September 1931, Page 3

WELLINGTON NEWS

v'H l Britain and tariff. 0 (Special Correspondent). A'-: AYEILLJNGTON, Sept. 18. A silent .man in a cheering crowd invites attack. He is almost invariably I cheered at and bonnetted. ' Britain somewhat‘resembles the’silent ma-n for, in a world of'qilioteetion it is eiideav-“ our ing to pursue free trade policy, -henc-e' it becomes the duntping ground) for the proleetioin riddeff countries. Britain and the United States stand at opposite poles, for if Britain has made free trade a fetish the United States has- made high protection ah economic; hut mistaken, ideal,. Both counti-ies must -change thoil' policies arid approach nearer I ''to "ofte j anothei', that'is to say Britain' must jiiipose a 'revenue- 'tariff and the United States * lrtufit remove ; a niun'iMi* of bricks from the' * top of its tariff wall, aiqd both moveriicntis are within the hounds of immediate practical politics. One can safely predict that within six months or’le&V'’Britain will r have foresake-n free trade for a revenue • ta,riff;- A year agd those favouring a tariff were few‘in' nuhihcr 1 -hut gradually leading men bU the United dom have veered found v and it is nojW .asserted, and tiih !S truth, that, the country is rotten iiipe for a tariff. The-'Conservative Party '‘has made the introduction • of a ’'tariff ■ the j cardinal plank in.'its l political' ‘platforih. Many staunch- fi-ee traders liavb wavered on the matter. ■< Sib • Jbsiah Stamp, , the 'eminent': financier ' ahd' economist, so recenitly •-as;-March lafit 1 expressed an opinion favouring ’ffifenue -.tariff. Lord Derby- and 'Lord Rending, have also swung'“over to' the tariff brigade, iand’' : thfe‘' lathst recruit ' is Lord . Tnchand shipowner; (the erst;frhnle::free ti-aclerA

--- The' tladi-tirin.'ir-Manchester ) school is also feHafriging' its views,'foi- it is imported ithat the Manchester Chamber of Commerce has issued a statement to the effect that a restriction of imports is an urgent necessity and the only immediate effective method of achieving -'restriction is the imposition of tariffs. The Birmingham Branch df the National Union of . Manufacturers’demands an immediate tariff on all' imports. Owing ito the staggering adverse 4rude balance aye urgent investigation it being made ;by a threeCphrty eomrfitltfeo. •

u--There '.is .no restriction !, on the scope -of . the-; Committee, which:may even- con-isi-dqiv/ a tariff, and the: prohibition ot the . imports of luxuries..; All jthisj appears to be a great triurnpli for the Conservative Party, and 'as it is' pi-qeli-cally certain that aii-• election will be held in the United Kingdom next, month the return of the Conservatives js. assured, and equally certain is . the. ex-

tinction of the Socialist Party ,tiud- the Red,/Flag devotees. -

/ America: ntust.moderate its’- tariff if, , is /to veipaip a creditor nation. | A creditor’s. duty-is .to . at-least: avoid placingfibstacles in the way of the debtor-and> ■ thusTThiakihg it?V'tlifflfMllfc UMTHUHatter rto-.-pay this debts. It • is-dfie to jthis -th»U thq; United States is in-the grip of -tl*’ cdepressioF. ':Jt- w-as :cabled '«from'; Wash--ingtopj,Jagt hr.eOk.4haf On ■•September'’'9-' :(th^r-goM-jshol'dingt had - h'-eaGhfod, -exactly/ - -apib qximately 'jßlOOQfeiiriilli-on stenliugy the. 'addititoi ; 'tiC .thftftotal.isingeic-thfe S- be'ginnifig -Hf ihe--f-vejpj- hejpg-. approxinuiteiy'. -£IBI.SODi'OOb'--In:-th<iMsettlement.m-f iuterhft’ifioijaP’debts 'gojfd 'shfiuld.-he- the last rtsobft ! , .Jntebvaa-tip-nhil.-trade’debits. ;.piid.-:credits international'-ir»nle is also' barter,-, and in - “go ds' -. puiqt-pay- -for goods;kiln .the ■itranfei'op./Of gold- in -quantity fi'diir' .one, country,to ..another wag,.ah eveiit of - occasional, happpuing,- The' pffe't-wa.r creditor cp\mtry*it*tiw United' by its bight tariff dms indicato/Utb 'its, debtors that- it desire s to he ‘paid in gold and not in goods, and the 'unfortunate debtors have -ob option in the ,matter, - The - gold Stream Ha s : been flowing towards the "United Staijes for the pasf ffoiir or- five- yehrs, and, ,until .-country. changes!'its policy at cangot o.hecfe ; tbe''infl()\y*K)f goltF whioli .uquisiug ,a. great ; . deah-Of'*- ein|:arrass- r to- '.v/. ' .y..' Tlie' Uilited-ivSltatoS'O'hihst-.-'nhiJfe drastic cut in its tariff, a general.fioj-i- , : zon,tttl, cut in-.4he3:tfi'i-iffs, as at whple, h-»d skop W/erticaltocrtit to - fj]j.etc:ifi,pd ;,ca ;i ses... zAlong with-the rdvis'iop .pf,,the ;; t.ari.ffinhere o.f-Ute ,wai-.dehtto. r.-:--, to/-'" '> ~-: