BRITISH TARIFF

Hokitika Guardian, 23 April 1932, Page 5

BRITISH TARIFF

MORE NEW DUTIES

ON WIDE RANGE OF ARTICLES. [United 'Press Association—By Electrb Telegraph.—Copyright.) LONDON, April 21. The British Treasury has issued the first report of the Import Duties Advisory Committee. This report imposes extra duties on a wide range of articles. Mainly they are manufactured goods. The new duties come into operation at midnight on Monday. The main proposal of the duties is to raise the present general tariff i;ate of ten per cent, up to twenty per cent. The Committee explain that they lmvo been unable to make a detailed examination of each class of imports, and have had to rely on general information in order to cover as wide a field as possible and to prevent a possible revival of abnormal importa-

tions. The Committee point out the fifty per cent, tariff, which has been levied under the Abnormal Importations Act, *■ was intended to ht! practically prohibitive. The safeguarding duties of 33 1-3 per cent, applied only to it few selected commodities, and they could not generalise therefrom regarding the effect of the duties applied to n large •sec” tion of industrial. The Committee, therefore, decided to work on the lines of a general additional duty of ten per cent., with a lower rate on certain products where special considerations arise, and with higher rates on the luxuries and semi-luxuries. The twenty per cent, category includes certain canned vegetable.?, most pottery, glassware, metal, furniture, cutlery, machinery tools, electrical goods, textiles, apparel, boots, shoes, saddlery, paper, rubber manufactures, ibrooms and brushes. There is a fifteen per cent, category that includes agricultural machinery, nnd tools, and a considerable range of f building materials. j There is a twenty-five per cent, category which includes fruit, pulp, photographic paper, leather trunks, guns, sports goods. A thirty per cent, category includes ovoters, caviare, toilet preparations, artificial flowers, furs, jewellery and silversmiths’ wares.

WAR DEBT MORATORIUMS

EXTENSION NOT ANTICIPATED

WASHINGTON, April 21

Official circles here have reviewed jt with noticeable '.satisfaction an anI nounceinent at London illat the jomis--1 teion of debt payments to the United States froiil tile Hew llritiyli Budget did not, Mmstitiite a declaration of policy. "That is fair enough,’’ obucr. vw ] Senator Heed, an administration spokesman, and who was among the first! to declare upon the recent Britil'll decision, that the United States expected her debt payments after tne one year moratorium. Mr Chamberlain’s statement is generally accepted as an assurance that no general move for an extension of the moratorium • will be made by the debtor nations V of Europe.

MR CHURCHILL’S IDEA

TARIFFS AND DEPRESSION

LONDON, April 21

In the House of Commons, Mr Winston Churchill, in the budget debate, .said that tariffs alone would not solve the world’s awful economic depression. It was not disputed, he said, that the chief cause of the troubles was the attempts to pay the war debts and reparations over tariff barriers, while the supplies of gold were inadequate, "Was the whole progress of the human race to be arbitrarily barred by a gold shortage? He (suggested close and effective Anglo-United States comradeships. ff these two creditor nations by an agreed purpose, decided to deflate and revaluate commodities tr, the level of 1928, it would give .✓idle world’s primary producers reasonable rewards, amd enable them again to buy manufactures. “It the Englishspeaking peoples agreed upon such a policy,” he said, France, despite her hoards of gold, would have to ask admission to- our councils next morning. Those three powers together could give a primary load, which would save the world from degenerating into chaos.” Mr Neville Chamberlain wound up the debate by saying that the cause of many of the world s troubles a,us the calamitous fall in world prices. The Budget resolutions were agreed to. R E AI) IN THE PRESS. LABOUR AND LIBERAL FEARS. LONDON, April 21. Referring to the increase in the tariff the “Daily Herald” says: "When tlm full effects of these new burdens on the consumer and the housewife are felt, the electors will demand fierisince/’ The ‘"Nov -'-Chronicle’’ describes the duties as disaster ami demands prompt aniioiineemer;'. We are willing L> remove or loWi r them in favour rff any nation willing to do the same, otherwise the blow to our export Hade may lie irremediable. The (*""servafive press welcomes the new tariffs- “ The Times” says: “The scheme gives the impression that the Governmont is developing a tariff policy

with moderation and resolution. No one can imagine such policy being perfected so iswiftlv. Their experimental a,nrl constructive character hits been carefuly preserved.” The “Daily Telegraph” says: “There are strong reports of an impending Treasury issue scheme for the conversion of the war loan (stocks at five pci- cent. It is not expected until early in the autumn, IniL the Chancellor will probably try the market earlier, with a bond issue, and wfl utilise the process for reducing the Healing debt by the funding of a large part of the treasury lulls now outstii ndi ng. It is siiggesfeij (hat this issue will not exceed two hundred millions sterling.