FISCAL AUTONOMY OF DOMINIONS.

Manawatu Herald, Volume XLV, Issue 2642, 6 October 1923, Page 2

FISCAL AUTONOMY OF DOMINIONS.

London, Oct. 4. Members of the Conference were entertained at the Mansion House by the London Chamber of Commerce. Sir Thomas Barclay, chairman of the Council of the Chamber, presided over a representative company of tifty-three business . men and members from ttie Dominions. Replying to the toasi of the Economic Conference, the Duke of Desunshiic said lie. realised thni difIV: cnees of opinion at the Conference would he almost certain —it would he uncanny if it were oilierwise—hut while appreciating the difficulties, the Conference was determined to find a solution. The Conference wished to obtain a sense of security and confidence for the trading and industrial classes. The Empire had proved the greatest war organisation in history, but to-day it was the greatest organisation known in history for the preservation of the peace of the world. Air Burton (South Africa) urged that the question of Free Trade or Protection was no longer a fetish, hut should he decided on its merits. He emphasised that it was essential that the Conference should observe the principle that each part of the Empire should retain the right to frame its own fiscal policy. Departure from that principle would -trike a severe blow at the unity of the Empire. Proposing the toast of “The Empire Overseas." Viscount Peel ex-pro-.-ed the opinion that there was no need for anxiety that trade between Britain and India would he diminished. Mr Massey, in responding, said lie questioned whether the present system of developing Ihe newer countries of the Empire wa- satisfactory. He was of opinion that the system should he materially improved. The Empire contained countries largely undeveloped, which .with the smallest encouragement would produce' practically all the foodstuffs required in Britain. The Empire should he made self-sup-porting. Mr Massey declared himself a believer in preference, although he admitted there were other ways Ilian Customs tariffs by which preference could he given.