“Taranaki Central Press” FRIDAY, APRIL 16, 1937. WORLD TRADE.

Taranaki Central Press, Volume IV, Issue 409, 16 April 1937, Page 4

“Taranaki Central Press” FRIDAY, APRIL 16, 1937. WORLD TRADE.

Mr. Stanley Baldwin’s reference in the British House of Com- | mens to steps taken by the Government toward the possibility of I an international agreement on trade again reminds us that the day | is gone when Governments can ignore such matters. Perhaps, too, it focuses attention on the fact that the present I appalling condition of commerce is largely the handiwork of poli- ■ ticians. In the nineteenth century Britain reached her predominant I position by a process of almost haphazard evolution based on ex- i periment, assisted by the genius of the race, and aided by fortun- | ate resources and geographical situation. There was little conscious steering of the nation’s activities to definite ends. Now, however, the outlook of government has changed and the statutes of every country reveal how Parliaments are increasingly engaged in legislation which aims at the regulation of the day-to-day affairs of the community. The new situation has its defects as well as its merits. Unaware of the impossibiliy of any modern nation making itself even approximately self-supporting, one Government after i another has imposed restrictions on its own trade with that end in view. Tariffs have led to higher costs of living and social discontent. Additional employment created at one point has been coun-ter-balanced by the displacement of labour and capital from other industries. Trusts and combineshave been fostered. Since “all-round’’ protection is not possible there have been | sordid political .scrambles on the part of sectional interests to gain advantages and to impose burdens on others. Perhaps the most striking paradox is that those tariffs and quotas which have been devised as a possible defence in face of war, are in themselves a real danger to world peace. The economic situation at thie time is aggravated by the I control of certain first-class Powers by dictators. No matter how strong it may appear, the perman ency of a dictatorship depends on the results its shows. An attempt may be made to appease discontent at home or at least to divert the attention of the masses by adopting some aggressive course. The European situation is not free from that possibility at the moment. There is a gleam of hope in the desire of the British Government to loosen the shackles on commerce by means of international agreements Mr. Baldwin remarks that the agenda for the Imperial Conference is wide enough in scope to permit of a discussion on economic co-operation if the representatives so desire.” Even amid the celebration and festive atmosphere investing the Coronation it is difficult to imagine that the most light-hearted Dominion Minister would not take advantage of the Imperial Conference to mention the ills that handicap his country’s trade. It may be safe ly predicted that, next to Imperial defence, trade barriers will be most eagerly discussed in Londo n. The one will necessarily lead to the other.