The Barre daily times. (Barre, Vt.) 1897-1959, 1916-03-02
War Is Swinging the Nation
Toward Protec-
ton
COUNCIL URGES
BANKS ABROAD
To Build Wall Against Ger
man Trade in Russia and
South America

London, March 2.-That important
changes are impending in the govern
ment's fiscal and commercial policy is thu
deduction the London morning papers
drew from Chancellor McKenna's speed
at the COMMERCIAL congress Tuesday. The
Standard remarks that the position Of
most of the members of Parliament rela
| tive to free trade and kindred question;
has been altered and broadened by the
lessons of the war. "The whole atmos
phere of the House of Commons says
The Standard, sis slowly changing. Tar
ifs, subsidies and preferential duties are
no longer stunned by the Liberal party
II is expected that Mr.. McKenna, before
presenting the budget, will give Parlia-
ment some concrete examples of the APP
plication of his new policy for the devel-
opment of foreign trade. He has coun-
selled with experts and has also sound,
well-deiined plan. Moreover, he does not
intend to wait for the end of the war be-
fore putting into effect policies designed
to assure that Germany shall never re-
gain her lost markets. A wall against
German oversee trade will be built while
the military issues of the war are still
being fought. The government intends
that instead of Germany being able to
flood the worlds markets after the war
she shall find no markets to flood. Mr..
McKenna's policy viii be a policy of an
ticipation and development"
The British Association of Chambers
of Commerce resumed its session yester-
day and adopted number of important
resolutions on banking and shipping.
American activities in both these fields
were urged as one of the main factors
which necessitate energetic British ac-
tion.
The banking resolution first introduced
was somewhat critical of the banks, but
Sir Edward Holden, who recently visited
the United States with Lord Readings
commission. turned the tide in a stirring
speech favorable to the banks. He de-
clared the banks were providing re
sources to carry on the war and at the
same time finance British industries and
llso maintain a huge reserve for the ma
.ional safety.
Sir Edward warned commercial men to
prepare to assist in spreading British
banking and industry to Russia and
south America and take advantage of
he opportunities now opening. A vast
organization, he said recently had been
established in the United States with
apital of S50,O00,000, designed to carry
american trade throughout the world.
1--WE must do the same things" he de-
Jared, "and do it quickly. We should /
ave a system of British banks through I
Mt South America, particularly in the
argentine and in Brazil and throughout
russia and other allied countries Our |
overnment should wake up and take a
Governmental interest in this question,
Delegate A. l.. Hobson of Sheffield said
he American organization was founded
0 get control of Argentine trade and
ad extended beyond that. He urged
rompt steps by the British to meet
merican efforts to secure South Amer
an trade.
The main discussion, however, was for
British organization which would over
,me German foreign competition The |
solution finally adopted Declares
"The government should facilitate the
of large credit bank for
he purpose of developing British trade
broad"