PROTECTIVE TARIFFS

Nelson Evening Mail, Volume LXIII, 16 July 1929, Page 9

PROTECTIVE TARIFFS

That no real progress is being made in regard to the removal of tariff barriers was admitted at a meeting in Geneva of the Economic Consultative Committee of the League of Nations. Commenting on this conclusion, the Trade Supplement <of "The. Times" says:—"Unfortunately i! seems indisputable that the nations ol the world are, determined to continue to shape their economic: policy from the individual standpoint and are not prepared to sacrifice what they regard as Ineir immediate interests on the altar of what may be in the long run the best course for'mankind at large. At any rate it appears to be fairly generally recognised that the facts can only bear that implication. The pioneers of free trade believed that the example of Great I3ritain would be followed by other nations and that eventually protective duties would he abolished throughout the world, but it was a vain hope, because the conditions were not similar. Though this country hoped to gain considerable, advantage by - abandoning its agriculture in order to facilitate the cheap production of manufactured goods, it has to be remembered that manufacturing industries were then far more .firmly established here than in any other part of the world, and other nations saw that if they in turn wished to establish manufacturing trades they could not dispense with the power to protect them in their infancy against the competition of Great Britain. To-day the position is that secondary industries have been built up behind the shelter of tariff barriers all over the world, and no Government is willing to surrender the means by which, in case of need, it can. come to the aid of hard-pressed industries which find employment for the people and in some cases arc- essential to 'the security of the realm."