ENTRADE PRINCIPLES
VINDICATED.
meeting of the Free Trade belt in April Lord Beau-
moving the adoption of nnual report of the Free Trade Union, said the hg represented the revival of the Union as a fighting force Never was there a time when Free Trade was more fecessary for the welfare of this ountry. We were suffering from blockade-first. against
hose who ur enemies.
Were
от
are.
and against entral countries; and second, Tockade both on our allies.
d ourselves by restrictions put pon trade by Government orders and regulations. The time had come when these ought to be swept away, because their in- fluence on commerce was deplorable.
He greatly feared that the élection promise of colonial pre- ference would be fulfilled, but he would draw attention to the fact that colonial preference..would impose tariffs, against out allies and against those neutrals with whom it was in the best interests: of this country to got into close relationship as early as possible.
Mr. Ranciman said now that the Free Trade Union was em barking on a new career of activity they were encouraged in the work before them by the re- cord of our own Free Trade country during the last five gears. It was the custom in some un- cinstructed quarters to contend that the war brought an end to Free Trade, whereas the war had proyed the soundtess of Free Trade doctrines in finance, in the adaptability of our industries. and the strength of our national resources, husbanded as they were under the Free Trade system.
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pended on the Free Trade system which, if excluded, meant that not questions of economic theory Quality contaiding a largs percentage o
GERMAN-MADE GOODS. Then we are told we must
THE POSITION OF FRANCE. It was a remarkable fact that at the end of four and a half years of war-nearly five years if they didn't hurry up in Paris (aughter-we were the only European belligerent country which remained solvent. He would say nothing to injure the credit of France, but it was long way off, that we had not fiscal policy but of our state of notorious that France would be money to pay for it, and that preparation for national defence. unable to pay her way or get bills shipping was not available. He But it must be borne, by all acceptable in America but for the ventured to remind the Govern-political parties alike, and the fact that her bills were backed ment that if the Government criticism has nothing to do with by the credit of a Free country, could not pay for the wheat they any fiscal doctrine whatever. The adaptability of our indust-bought from the Argentine the The inadequacy of our sup- of explosives has no ries was due to a large extent merchants of England could, and plies
to do with Free Trade to the stimulus, of competition the sooner they were allowed to more
than the Supremacy of the under Free Trade policy. The buy the better.
What was true of wheat was British navy. Both alike are strength of the British navy de-
true of every other article of food, matters of national defence, and We were limited in the expendi ture we could afford for the creat the high cost of living would re ion of our fleet and it was certain main. Another aspect of colonial that with millions at our disposal preference was that it meant the we produced more vessels and taxation of imports which came change the fiscal system because. more guns than could have been from France, Italy, and Belgium.it would he impossible hence- That was mainly because we had which before the war entered this goods to come into the country. Revi Ofor No. 47 & 48. Conmugas Bond Central, Hongkong Telopao No. 1239 & 293 produced in any other country. and to put tariffs on articles
People who are foudest in pro- Principal Factory: No. 71, North Soochow Road, Shanghai, hian Telephone No. 3385.
Brasch Factory: Wing Hing Street, Causeway Bay, Hongkong none of the obstacles and embar-country freely.
Then what was to be done with claiming that doctrine are usually
Cable Addrese: “HIGWAL" rassment of other countries. We German goods? We had better those who are most insistent make peace with Germany first, that Germany shall pay the whole How she is It was curious that at the end and when that was done it might of our war debt.
to pay any substantial part of of four and a half years we had as well be a wholehearted peace. pay an
are willing to seen every one of the protected If it was wrong to trade with countries having to resort to Free Germany it would be wrong to receive German goods neither I, Trade taxes in order to make ends trade with a 25 per cent. tax or they, nor the Government
which gained such meet, and that in times of placed on their goods.
advantages by holding out this pesce, which were likely to be
alluring prospect have the least more economical than times of
idea. But the curious thing is that the method recommended for war, there was a
applying the doctrine that o more German goods must reach this country is not to prohibit their import but to put a tax on
You them,
may" touch an
had the advantage of an expansive
JEVENUE.,
"We
forward to allow German-made
we
LL our Pastes bear the Rooster” label and are made from Flour of the Best (Gluten Starch and Glatan are the principal components of Flour. Gintan is easier digest and contains more nutriment than Starch. Mannfactured under the most sanitary conditiona.
Larg quantities hare en exported to various important cities in the World.
Terins mocierate, especially for Agencies. Orders executed permptly, THE HING WAH PASTE MANUFACTURING CO. LTD.
electoral KEEP COOL AND COMFORTABLE IN HOT WEATHER
THE KEY INDUSTRIES. Sir John Simon said: very strong Freetraders are urged to learn party supporting the abandon the lessons taught by the war ment of Free Trade for a Pro- and to mend our ways accord
ingly.
I am all for profiting tectionist policy in this country.
recent experiences, and There were two aspects of the from Free Trade question which he trust that fiscal students of every would particularly emphasise, school will be prepared to read, unclean thing 29 you pay Tus first was the productivity of mark, learn, and inwardly digest something for the privilege, and our country," and the second the what the lessons of war really incidentally so long as you enable The most obvious of all British manufacturers to make a relations we should have with our are. allies and neutrals, to say noth these lessors is that our country, larger profit out of their fellow ing of those who had been, and with its Free Trade system, is technically were, our enemies. the only one of the European In England we
were faced Allies which has been with
One reason for unrest
What are
able
countrymen.
The policy of excluding Ger-
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AGENTS
POPULAR MUSIC.
man goods after the war. Whether just as well to remember that in industrial. Stagnation. to lend hundreds of millions based on righteous indignation or the year before the war three: was to other belligerents who have on calculation of national ad- fourths of our, food, five-sixths of the extent to which the un-relied, in times of peace ou avantage, is at any rate logical our metals, three-fourths of our employed now found it impossible system of tariffs. The second and if it is persisted in, in spite cotton, and six-seventhe of our The Torquay Division regis to secure work in the greater lesson is that our ability to stand of the appreciation of the im
wood came from foreign tration officer was called upon industries. This was due to some the shock of war has largls menee injury it would do to our countries, and it would be the recently to answer what he extent also to the high cost of depended on the possession of an large export trade with Germany, strangest way of expressing our described as an electoral comun living, but these were so closely instrument which is the direct it is highly disinterested, but a sympathy with our bandered and dram, when seven women. em- connected that they could scarely consequence of our system of compromise which denounces devastated allies to clap a tax on ployees in a big drapery firm, the be considered apart. If there was Free Trade a pre-eminent mer trade with Germany after the war their products the moment the proprietor of which lives off the
as unthinkable and then permits war is over.
the premises, claimed the vote. Each 5,000 ow activity in industrial Eng-cantile marine. and the high cost of living would
the arguments, it at a price is either muddle- "The truth is that the great of the women occupies a separate be to some extent diminished, but derived from recent events, which headedness or cant.
need of the time is to encourage room In-allowing the claims there could be no renewed ac- are commonly advanced in
TARIFFS AND PERMEATION.
commerce and exchange with Mr. Hutchings said that if tivity so long as values were favour of change? It is said that
Finally, we are warned that every corner of the earth in order 8... woman was married the disturbed and prices exaggerated, the experience of the war has It was unfair to expect manufact shown us the necessity for pro- the Free Trade system has per to recreate some portion of the process with simple. She got a arers to enter into contracts when tecting 'ker industries, and that mitted Germany to permeate wealth which has been spent on vote because her husband had a they had no means of gauging our weakness this respect is British commerce, and that our the war, and to reduce the moun-vote. If single the Act ssid s the moment of the markets. due to Free Trade. But what is future security depends upon tain of debt which threatens to woman was entitled to vote as
a key industry? The instance putting a tariff on foreign com- overwhelm, us. The real lesson woman if she would be entitled GOVERNMENT "AND ARGENTINE most commonly given is that modities, and relying solely upon of the war in this connection is to vote if she had been a man
of dyes, but the real meaning British supplies But a tarif that State control of trade, with He had to answer the estions in the of the criticism is, not that does not prevent permeation. In restrictions on imports and inter- set by the Act,
stated there is any commerci wesk | deed, it was not to longer
WEZAT
In answer to
nese involved in buying dyes that tariffs were recor
from abroad, but tha
are capable
for the
isely!
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