AN EMPIRE'S OPPORTUNITY

Rotorua Morning Post, Volume 2, Issue 239, 30 May 1932, Page 4

AN EMPIRE'S OPPORTUNITY

Now that the personnel of New Zealand's delegation to the Empire Eeonomic Conferen'ce at Ottawa has been announced and preparations are being pushed forward in earnest for the presentation to the conference of the Dominion's case, keen public interest has been aroused. There is, in eonsequence, much speeulation upon the prospects of immediate tangible benefits resulting from the deliberations of the Empire's leaders. Realising that, for the first time sinee Imperial Conferences were instituted, the representatives" of Great Britain will attend freed from the shackles of the traditional free trade policy and at liberty to enter into reeiproeal agreements with the Dominions for the preferential treatment of eaeh others^-producis, the people of the whole overseas Empire naturally entertain high hopes of enjoying considerable benefits in the near future. Great Britain ,is their principal market. Her population is more than twice as great as the total white population of the Dominions and colonies and she is the world's greatest importer of primaryproducts in the form of foodstuffs and raw materials for her industries. These faets justify the high value placed in the Dominions upon the adoption by Great Britain of the policy of Empire trade preferences because their own prosperity and development are almost wholly dependent upon the profitable export of those primary products of which the Old Country is such a heavy importer. In the past, although British products have enjoyed preferential treatment in the Empire's markets, Empire products have had to compete for the British market without direct advantages of any kind, against the products of the whole world. As in general the standards of life of the British people are higher, in many cases very considerably so, than those of their competitors, the open door at Home has imposed a heavy handicap upon Empire producers. This is because the foreigner has been usually in a position, as a result of lower labour and other costs, to cut prices below the payable level whenever his position on the market is seriously challenged, without himself sacrificjng the whole of his profits. It is the elimination of this form of competition that the Empire producer chiefly looks for. It is not expected in well-informed circles that preference will result in any spectacular rise in price levels; to do so would be both unreasonable and foolish. But it is believed that it will greatly widen the market and increase the consumption of Empire products at Home and at the same time help greatly to establish more stable values by limiting the operations of the foreigner and the speeulator. Watching the rising tide of hope in New Zealand, the 3 Prime Minister has felt impelled to issue a warning against excessive optimism. Unfortunately, being of a gloomy temperament and anything but an optimist, he has said both too much and too little ; too much to be taken literally and too little to explain sufficiently the real situation. Fortunately, New Zealand now knows its Forbes, and is therefore not likely to lose heart unduly as a result of his warning. A moment's consideration of the attitude adopted m other parts of the Empire will show why. In Canada, politicians and public men are showing no hesitation in proclaiming their belief that great benefits may be expected from the conference provided its problems are approached in a spirit of co-operation, while at Home an intention is evident to meet the Empire representatives on a basis of equality and in a spirit of mutual helpfulness. Other Empire countries have indicated a similar attitude and even Mr. de Valera, whatever he may "think of the Empire as a political organisation, has shown clearly that he has no- intention of being left out of Ottawa if he can help it. The suggestion has been made more than once that the Conference may result in the establishment of a new eeonomic unit which would be more powerful than any the world has ever seen. This is no fantastic dream. The Empire produces within its far-flung borders almost the whole of its members' needs and it is the world's wealthiest racial or political group. The possibilities inherent in true financial and economic unity are therefore almost boundless, especially as the world could not possibly get on without the Empire to anything like the same extent as the Empire could get on without the world. It is therefore to be hoped that though Mr. Forbes has seen fit to strike a more or less gloomy and negative note when speaking to the people of New Zealand, he and his eolleagues will achieve a more positive and cheerful attitude when I they reach Ottawa. If they will do this, and will also remember that the sharing, and not the selfish winning, of advantages is their purpose at the conference, they will more than probably be able to return bearing tidings of great cheer.