The Waterbury Democrat., 1932-07-02
BRITISH EXPIRE OPENS FIGHT FOR
 WORLD TRADE
Industries Federation at London Outlines Plan
 for Conference

scramble for economic spheres Of influence, and Britain, business leaders warn, must get hers before ft is too late.
 The most comprehensive plan yet advanced for safeguarding the British empire against threatened economic aggression has been drawn up by the Federation of British Industries. The federation, foremost among influential busi- mess organizations. is urging its adoption by the government as the foundation ofta new imperial pol icy.
 C With the important Ottawa conference less than a month away, the proposals may have con- siderable, weight, especially since they reflect the views of infiuen- fia1 conservative party leaders.
 Must Be Economic Unit
 Japan's efforts to consolidate its position in Manchpria, Frances growing influence in colonial mar kets the possibilities of central European economic bloc and the United States grip on the com- merce of the Americas are all PVSASGu Out 69 C<<eSAAAkkVo VA kAA0 way the world is being divided into economic camps. Britain has its far-fiung empire, but 1t must yet be unit, the federation declares / The forthcoming Ottawa eco- homie conference therefore should aim to make the empire self-suf- ficient by strong trade barriers .~k S.A 1aA 1ft.AS-o advantages for empire goods.
 "Complimentary production" is offered as the best solution of the problem. Conferences would be held between various countries within the empire to determine which can produce . given com modity most economically. Other countries thereafter should moi strive to compete in that line, 1t il suggested.
 Zones Should Be Made Various "zones''' should be estab. lished throughout the empire, the | federation saye, so that the inter- ests of the dominions should not conflict. Dominions like Australia and Canada are so great that | freight charges from industrial centers to many parts of the do- minion are frequently greater than the ocean freights from other Brit isll ports. In such cases high du- ties on products shipped from the ports should not apply. 1t Is felt. :. A British Empire currency # lanother important proposal. A uniform, centrally-controlled cur Irency would do much to knit the empires economic interests more closely, the federation believes When the gold standard was used universally, the pound sterling was the chief unit of exchange, II points out.
 "It is more proper to regard the pre-war international gold stand ard as having in effect. been an international sterling standard that is to say stegling rather than gold was the world currency. the report says. British monetary policy now should revere to "the unconscious pre-war British plan." it adds. D. making the currency of all Britisf countries the same, whether on gold basis or not.
 Leave No Loopholes Imperial preference, the federa' ton insists, must be so effective a. to leave no loopholes for foreigI Iencroachment. Preference, shoult not be granted to manufactures o predominantly foreign origin whici
 are merely assembled or finished lin the empire.
 Movies play an important part 1T
 the plan. They are considered i'm portant propaganda media. Brit
 ain has a film quota which re ouirea theaters to show certain number of British pictures year, and the federation urges do iminions and colonies to adopt tn'
 idea.
 Three Main Principles
 The three main principles '
 which the Ottawa conference
 should adhere are laid down a
 One-Recognition by each na ltion of the unfettered freedom Q every, other empire nation to pro tmote its own domestic develop ment.
 Two-The fostering of uneco
 homie production is unsound.
 Three-The ultimate importance of agriculture of the welfare 0
 every constituent part of the Brit
 ish empire.
 The present danger to the em pire, the report says. lies in thu face that if it's member nation
 stand alone instead of cooperating leach of them eventually will fal under the dominance of some for eign economic group.
 In 1929. it points out. the over
 seas empire imported some f6OO. 100000 worth of manufactures goods, of which f270,000,000S cam from Great Britain. At leas If250,000, 900 of the remainder rep resented goods of type that Brit lish industry could have supplied
 the federation says.
 I.a5