Critics Aroused

Sun (Auckland), Volume IV, Issue 1018, 8 July 1930, Page 9

Critics Aroused

BANKERS’ TRADE MANIFESTO “Impudent” Says Snowden PARTY LIEUTENANTS GIVE THEIR VIEWS British Official Wireless -Received 11.35 a.m. RUGBY, Monday. | tIE declaration on the subject of Imperial trade relations, ■l which was issued last Friday and signed by fourteen prominent London bankers and others, was discussed at a large number of political meetings in England during the week-end. The publication of tbe manifesto lias created great interest abroad, notably in the United States and Germany.

The manifesto declared that the immediate step for securing and extending the markets for British goods lies in reciprocal trade agreements between the nations of the British Empire. Sir Austen Chamberlain, speaking at Birmingham, coupled the announce ment with that of the Trade Unions’ Congress, whose l-ecent report he said represented a complete change of view on the tariff question. Sir Philip Cunliffe-Lister, who was President ot the Board of Trade in the late Conservative Government, speaking at Tenterden, said the pronouncement was of the highest consequence, as the signatories included some who, in the past, had been among the most rigid adherents ot free trade. Mr. C. T. Cramp, secretary of the National Union of Railwaymen, speaking at West Hartlepool, emphasised the need of overseas markets keeping pace with the growth of population in Britain. He said the Trade Union Committee believed the new difficulties necessitated a new outlook, unhampered by tradition. A LIBERAL VIEW A Liberal leader. Sir Herbert Samuel, was very critical' of the manifesto in a speech at Altringham He said it was not to be supposed the signatories wefe speaking for the institutions to which they belonged. He awaited information that the direc-

tors of those institutions had passed a resolution for a protective tariff. He illustrated the difficulties ot reciprocity and said the adoption ot the plan advocated would cause continual uncertainty in the conduct ot business, and would involve a general rise in the cost of food. Sir Josiah Stamp, a Liberal, who is one of the directors of the Bank of England, in an interview with the “Daily Herald,” said the circumstances of the manifesto were shrouded in mystery. A day or so before, two at least ot its signatories were as staunch free traders as they ever were. The Chancellor of the Exchequer, Mr. Philip Snowden, interviewed last evening, said of the 14 signatories only about half appeared to be hankers, and he characterised as impudent their profession to represent financial opinion. HIT AT BEAVERBROOK The Foreign Secretary, Mr. Arthur Henderson, at Cromer, challenged Lord Beaverbrook’s statement that 200 Labour members of Parliament were waiting to transfer their allegiance to Empire free trade. There were not two score prepared to adopt that policy in the way Lord Beaverbrook was advocating. It is reported the bankers’ manifesto will be discussed this evening at a Liberal Party meeting at the House of Commons.