Salt Lake Telegram | 1930-07-06 | Page 3 | British Bankers Ask Free Trade within Empire

BRITISH BANKERS ASK FREE TRADE Act ct Causes Political Sensation Sensation Sensation Sen Sen- Urge Tariff on All Imports LONDON July I 5 AP AP-A AP A resolution resolution resolution reso reso- I lution adopted Thursday by a committee committee com com- o of ot the most powerful bankers bank bank- ers in tho the country urging free fre trade among tho the component parts of ot the empire with a tariff on all imported from foreign countries countries coun coun- tries became toda today a political sen sen- Among voting for tor tho the resolution reso reso- lution ne Reginald McKenna former former former for for- mer mer liberal chancellor of or tho the exchequer exchequer exchequer ex ex- ex- ex chequer and chairman o of the Midland Midland Midland Mid Mid- land bank HI His conversion from traditional free Cree trade supporter to protectionist is still regarded as a n seventh e w wonder in tho the British political political political po po- world Tho The bankers bankers' resolution says Urgent measures for the promotion of ot trade are needed to secure and extend the market for to- British products both at homo home and abroad Among tho the signers are arb r th the tho Bank of or England and five other great r at British banks SEES AI AID D TO LABOR Commander J J. J M. M r Kenworthy labor tabor member of ot the house of ot commons commons commons com com- mons said he believed the tho bankers bankers' frank Crank expression of ot their views would help t the tho e laborite policy oC or trade b by bulk purchase Import boards and direct exchange of t commodities The proposals for a protective tariff Commander Kenworthy dismissed dis dis- missed J as showing simply that ev oven even n the tho headed hard bankers have become frightened for the time beIng be be- be ing The labor labOI member expressed hope that the tho bankers would soon recover their sanity Sir Lambert L. Ward conservative commoner said ald dr dryly ly that practically practically cally nono of ot the bankers had ever fought an election in an industrial constituency Therefore they did not r realize tho the appalling prejudice against protection in many parts of or orthe the countr country Tho The mere mero whisper of ot food taxes had cost the conservatives conservatives conservatives conserva conserva- tives thousands of ot votes In to the past and might easily do so M In the future SPEAKS OWN VIEWS In speaking thus Sir Lambert Is Js believed to have havo expressed d the view held by the Rt Hon Stanley Baldwin Baldwin Bald Bald- win conservative leader While these opinions were being expressed in interviews R. R H H. Tennant Tennant Ten- Ten nant chairman of or the Westminster bank who was waa one of ot tho the sl signatories signatories nato nato- ries rles of ot the tho resolution remarked that the conference represented the highest highest highest high high- est of oC blinking banking opinion and added I largely ely In r cognition re of ot comments We all aU want empire free trade and while we bankers are not politicians poll poll- we we have seen fit to discuss ss and declare our views