After 'n masterly expose of the The Council _of the Chamber of whole: position by, Mr. Neville Ghamberiain, the Chancellor of the Shipping, by 85. vates to three, t0-) as Sed a. revolution expressing Exchequer, the House of Commons peaches 227 votes to 38, carried opinion that the only the" Newfoundland financial resolu-ext che for the. present condition Svorld trade by the removal of in the "restoration. of tion on which @ bill be founded to carry out the recommendations of strictions and" uneconomic _practthe Royal Commission on New feces, including shipping subsidies, the' Chancellor of The resolution recommends ferred to the Anings of she 1 Chancellor of Exchequer re-Government' favourably: to. consider Commission, which showed that the granting of a temporary" sub-Newfoundland had: been the victim 'Wwhen-any' section of the. Brit-ofa vicious political aystem, and fish' mercantile imarine "can show! ime, if ite financial position' were that such a measure is necessary further recommends that, one to be restored, there should be a rest for a time from party polities, lof the conditions for a trade agrec-He said that it was only right to iment with other nations should be that. they" no longer. discriminate add that the present government. of Newfoundland had made the most Jogainst British ships. strenuous and praiseworthy efforts 'The Council considered the re-fo bring about u better state port of the "tramp" committee apaffaire.. It was, therefore, all. the significant that that govern-Doinved te investigate the presen conditions. of British. cargo' ships. ment had endorsed the recommenda Various recommendations were tions of the Commission and had made by the committee" andy auddresaed. His 'Majesty praying for they" ave adopted by the Counc, the issue of new Letters Patent [will be. submitted to' the: President 1 the United Kingdom fof the Board of Trade, Dtr.. Walter Government to assume responsibil with a request "for lity for the island. on to. put. them into effect.
The. Chancellor of Exchequer said understood that Mr. Ramet: that the present public debt of Iman has promised to. support: the Newfoundland amounted to 811, recommendations "if there is une 500,000, plus 9,000,000 Canadian fanimity. among' ship-owners. dollars about £19,000,000 at the present rate of exchange, on which Recommendations the yearly interest was about £1,- 000,000,. representing 65 percent.
Dee. 8: of Newfoundland's total revenue.
The recommendations made by.
EMforts of the present Govern: the Council of the Chamber" of ment to bring expenditure in line Shipping for a shipping subsidy' with revenue had been beaten yesterday, include an operating the economic depression "and. the [subsidy of 10/—a gross ton an-disastrous fall in the price of cod fnually" for each" British tramp) fish and wood pulp. The British steamer which is genuinely scek-Government had.'no hesitation ting cargo and engaged in interna-going to the aid of Newfoundland, tional' trade, ona daily' pro recommended, by the Royal Com-hoped that they might basis for each voyage, "wheth aden or in ballest.
Ip the Island to return to a self-The subsidy should be paid from sy sporting basis. the day of signing on to the day Chamberlain proposed, in vesigning off, as this would prord to. the Newfoundland debt, mote employment of British sea-that the bulk of the creditors would men, of whom there are at pre-not the—paid in cash but would resent' 40,000 unemployed. ceive stock of equal face value backed by the Government of the United Kingdom with interest at per ton laying up subsidy, with a The Chamber also. propose 1 5/- three per cent., which the Govern-minimum period of 30 days. ment wore advised would" produce The Chamber urge that goods par value equivalent to the nominal produced in the Empire which en-value of the stock.
Joy preferential treatment, should be confined to goods imported in Government Eiforts Beaten British ships, while, discriminatory The effect, of the proposals, the customs duties should be levied on Chancellor of "Exchequer continued, leargoes imported in foreign ships. was that the annual interest burden Later. ould be reduced by £360,000 a year fand the debt would amount to £2,- at last to seeks the hel British shipping has 00,000\ of trust. securities and aabottt £17,000000" of new stock. The jemment in ow stock would carry" a sinking the unfair fund! of one per gent. which would ised fore! vals, declares "The start' mot "more than five' years
Text read from the printed page and cleaned; old type leaves the occasional error.