Mr. Bruce said that the solution of Imperial develop- ment
could be expressed in three things : men, money and markets. The paramount question was markets. In his opinion the great value to Britain of trade with the Dominions was that the Dominions took from Britain exactly what Britain took from them, whereas in the ease of such countries as the Argentine, Denmark and the United States, though Britain took much from them they took little from her. He recommended a complete system of preferential tariffs. Retaliation by foreign countries need not really be feared. Great combines were growing up all over the world, and Australia was in danger of being driven out of meat- production by manoeUvres over which Great Britain had no control whatever. Apart from tariffs, preferences should also be given in Government contracts.
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