The Daily News. WEDNESDAY, MARCH 22, 1916.

Taranaki Daily News, 22 March 1916, Page 4

The Daily News. WEDNESDAY, MARCH 22, 1916.

POST-WAR ECONOMIC RELATIONS. Those who have followed the cabled reports of the speeches delivered by the Hon. W. M. Hughes (Federal Premier), in London, cannot fail to have been struck with the ability and statesmanship il-cwri by him over the two *.t qm-tkra which lie lias been stres-unj; during his visit to the Homeland. Some idea of the profound impression lie has created may be gathered from the comments of the British press. The London Times '.considers that Mr. Hughes is making notable contributions to the formation of a sound Imperial policy, and stands for exactly those robust principles of national security which the war is slowly restoring to British polytics. The Westminster Gazette asserts that "Mr. Hughes lias said nothing with wliich we cannot all agree." The Pali Mall Gazette proclaims Mr. Hughes' speecli 011 Imperial and economic mutters as the boldest, most imaginative iand clearest-sighted utterance on an important question since -Mr. ■Chamberlain retired. This speech is reported to have made a singularly favorable impress'dii in Ottawa, while the .French are pleased and surprised to find the British .Dominions ahead of the Motherland on the question of post-war economic relations. With prophetic wisdom (evidently quite unintentional), the Cologne Gazette, while professing an absence of anxiety, adds that the Fiiglish and Australians "are only able to strike Oman trade a, blow similar to their victories on land." That is all tlio Ai'iles intend —no more, 110 lesvand it will suffice when the final victory is won. That Mr. Hughes'' plain, outspoken .'.rid convincing statements Imko been a revelation to British statesmvu and economists is evident. It is a new departure in Ministerial methods to be outspoken on matters of controversy, and it must be remembered that incorporated in this economic question is one of the most vital principles—that of protection and free trade—over which party fights are continually Icing waged. Herein lies a manifest danger which will require consummate skill to overcome. The London Times pertinently remarks: "If the Government thinks we are going into peace matter's us unprepared as we went into war, it knows singularly little of public feeling." It is 011 this point that Mr. Hughes raises his voice in no uncertain manner. Speaking at the City Carlton Club, he said: "Among the chief causes of the war was Germany's desire to wrest from Britain her industrial and commercial supremacy. We must kill that hope, which still buoys Germany up, so that, after the war, Germany will be unable to wig back her

position in the world's commerce anil industry." By this time Mr. Hughes has obtained an insight, into the formidable nature of the task that faces Britain in connection with the overthrow of her present fiscal policy and the reversion to what may be termed retaliatory protection. The Times says it is impossible to ignore the subtle movement to postpone a settlement of post-war trade policy indefinitely. Mr. Hughes does not ignore this movement, and he is striving with all his might to force the hands of the British Government. At the Carlton Club he once more emphasised his «ontention that the trade policy of Britain after the war should be declared without delay, for if the pronouncement was made now ai:d in plain, unambigious terms, its effect would be tremendous. The effective consolidation of the Empire cannot be achieved on a sure basis unless the economic policy that is to be pursued after the war is settled, henee the reasoit for urgency. As the Observer aptly remarks: Neither Britain nor the Dominions want ft centralised or rigid system, but both demand a coordinated policy for making the Empire a vital organism. The present is an opportune time for formulating a postwar economic policy, so that the details may be discussed and arranged by the parliaments of Britain and the Dominions before the time arrives to enter upon peace negotiations, other-' wise it will be too late. The' 'forthcoming conference at Paris should be utilised as a starting point from which the new trade structure can be evolved. Had „ tile principle contained in Sir Joseph Ward's scheme of an Empire Council been adopted when it was placed before the Premiers' Conference some years ago the present difficulties would have been largely dissipated. War was not then thought of, but now that it has occurred it has shown the wisdom of some such scheme being in operation. The climax of Imperial evolution has still to be reached, and though its attainment will tax the highest statesmanship of Britain and the Dominions it is an imperative duty that there shall be but one united policy in dealing with Imperial affairs, in making me Empire as far as possible self-contained, ;ind in combining with our Allies in post-war economic relations that will icctively prevent our present enemies from rehabilitating their finances through the medium of trade, commerce, or industrial dealings with the nations who are now sacrificing thoir treasure and manhood for the purpose of upholding the right against the oppression of might.