Evening star., 1929-06-10
j. S. TARIFF SWAPS
CANADIAN VOTES
Defeat of Liberal Party Is
laid to Proposed Duty
on Beef.
BY JOHN r. SINCLAIR.
u Disnatch to The Star.

Special Dispatch to The Star.
NEW YORK, June 10.-AmerlcanS
should realize the significance of the
surprising defeat of the Liberal party
Of Premier Gardner of Saskatchewan
in the provincial elections last week
To the average American 1t means
nothing, but this party, always frlendi!
to America, has been defeated aftel
holding power for "a years In fact
the Conservative party has never
formed a government in SASKATCHEWAN
Why the change?
The answer is that the new Ameri-
can tariff proposal for higher duties,
particularly on beef, has changed the
sediment there The Conservative
party's position of putting up brick
for brick" against the American high
protective tariff has gained ground.
To the Middle West it means more.
Premier King of Canada may now fight
shy of committing his government to
any cooperative scheme for the con-
struction of the st. Lawrence water
ways route.
The Canadian premier. always friend
lv to the United States, graduate
Of both Chicago and Harvard UNIVERSE
ties, as well as Toronto, is likely to
ponder the possibility of alternating his
French-Canadian supporters OF Quebec,
many of whom oppose the st. Lawrence
waterways development.
And thus tarif-changing has far
reaching effects.
j. H. Thomas, the British cabinets
unofficial minister of unemployment,
says very frankly it is going to cost
Britain "some money" to bring rene1
to the 100000 unemployed OF Great
Britain.
"But It Is better to spend money
productivity than to give hundreds OF
millions to people doing nothing" IS
the statement of this most popular OF
the Labor ministers.
Philip Snowden is the man responsible
for British government finances. III is
expected within the next six months
that at least 100000 men who are at
present tax pensioners" Will be am
ployed in productive enterprises. On
road building, Thomas expects to spend
at least $50 900 900. Other millions Will
be put into electrification schemes and
the construction of railroad ring
around London to facilitate and speed
up the transportation Of goods will be
undertaken.
The relief of unemployment by a
large building and construction program
is q Labor program that has already
started. :,
The Liberal party, under Lloyd
George. cannot well object seriously TO
Labor's program in this matter, 1or
Lloyd George himself made it his key
plank in his prediction pledges.
Neither will the Tory party object much.
Their position in this matter will be
weak, for public sentiment throughout
Great Britain is very largely for this
part of the Labor party's program.
m1,en Senator Glass. one of the
originators of the Federal Reserve sys-
tenn, proposed that per cent tax pe
levied on stock purchases if sold within
so days, he raised a furore throughout
the country, especially in New York
City. Chicago, Los Angeles and San
Francisco, where stock market opera
tionS are large.
In this way the Virginia Senaton
formerly Secretary of the Treasury
would attempt to control stock markt
speculation.
The Glass suggestion has been criti-
cized on the ground that 1t would actu-
ally promote panic at time when busl-
ness was protecting itself by turning
stocks into cash. Those are the times
when it is necessary to back up mar
ket with buying so that liquidation can
proceed in an orderly fashion. With
such law in force it would be extreme
ly difficult to get any group OF investors
to support market on its way down.
One banking authority puts 1t this
way: For burning the barn to kill the
rats, the proposed speculation tax OF
Senator Glass established new record"
(Copyright, 1929. by North American News
paper Alliance)