OVERSEAS TRADE

Rotorua Morning Post, Volume 1, Issue 89, 5 December 1931, Page 5

OVERSEAS TRADE

(British Official Wireless)

FOREIGNERS ANXIOUS BRITISH, TARJFF PLAN MAKES PROTECTIONIST COUNTRIES ' ' CHANGE ATTITUDE EEel loss of free market

RUGBY, Thursday. A Government assurance given in the House of Commons that no fiscal engagements of a binding character would be entered into with foreign countries which were likely to prejudice the effect of the Abnormal Importations Act or any future arrangements with the rest of the Empire was commented on to-day by the newspapers which welcome the indications ■ that the leading protectionist countries which could not be induced a year ago to consider British proposals for a tariff truce, now desire to discuss tariff questions. It is pointed out that Britain's exports suffered considerably from the high tariff walls which in part are responsible for forcing Britain off the gold standard, and the present reconsideration of the fiscal policy. The "Times" says. "The greatest satisfaction will be felt in this countfy at any; prospect of the protectionist countries even contempiating the pbssib'ility of a more liheral policy, and b'eing disposed to take into some acCount the interest of other countries, including Britain, in drawing up customs schedules. "That change had to come in time, for it is plainly impbssible for the World to go on much longer as at present with dvery country endeavouring' to export as much and import as little as it can. It is an irrational system, which so far has been able to maintaih itself laf gely by the existence of an open British market. •'"Britain is now forced by the danger of her own economic stablit'y to. blo'se this safety valve and abahdon her policy of free imports. By so doing she is creating a new situation, which sooner or later will compel even the most reluctant to realise the necessity for a more liberal attitude all round.'' The "Times" emphasises that Britain must go to the Imperial Economic > Conference at Ottawa with her handsj as free as possible from commitments 1 outside the Empire. j