The Manawatu Standard (PUBLISHED DAILY.) The Oldest Daily Newspaper on tne West Coast. TUESDAY, NOVEMBER 17. 1885. DEPRESSION IN TRADE.

Manawatu Standard, Issue 1508, 17 November 1885, Page 2

Manawatu Standard (PUBLISHED DAILY.) The Oldest Daily Newspaper on tne West Coast. TUESDAY, NOVEMBER 17. 1885. DEPRESSION IN TRADE.

Sin «Fui,i us \ ogel was not wrong m saying that the depression m trade was being experienced all over the world. From the Home papers to hand by the last mail, we see that the question of trade depression is absorbing the attention of English politicians more than ever, and constant meetings are being held with a view to ascertaining the real cause and the most likely remedy. A Royal Commission on Trade has been appointed, and this body sent out questions for the consideration of others, amongst which was the Exeter Chamber of Commerce. " Question 13 asks : " What " measures could m your opinion, \' be adopted to improve the exist* " ing condition of trade ?" A large majority decided upon the following reply :— " That if the principle of reciprocity were made applicable to our trading with foreign nations, and if our relationship with our colonies were more cultivated if, would* m the opinion of this chamber, be a great benefit to the general trade of the empire.* 1 It seems that the wisdom of the freetrade policy of England is being ' severely called into question, and as the times are critical ones, there is a possibility of considerable reforms being brought about m the fiscal policy of the old country. Speaking at Ludborough, near* Louth, the Right Hon. James Lowther, M.P., said the late Liberal Government could not deny that the condition of trade throughout the country was unsatisfactory m the extreme ; yet they said that they would not allow any inquiry to be held to determine the cause of the great depression. In their refusal they were actuated by the fear that the inquiry might cause doubt m the public mind aa to whether the fiscal policy they had been following, for so many years was to the public advantage. In his opinion free trade had proved a failure.' Col. Dawney, M.P., also expressed somewhat similar views when ad-

dressing a meeting of agriculturists at Easing wold, near York. He said that it" would be of no use, to bring 'out- -that broken-down old imposter, that spavined, lop-sidrd old cripple, called one-sided free trade — an old screw that had been running for forty years, but had never yet won a race. <The supporters of the present system, if sincere, ought to remove the tax on British bread arid free all British industries from unfair foreign competition. With equal chances against^foreigners.* they couldi again hold their own j against the world. . U