Date: October 14, 1930
Location: Northampton, MA
(Original document available here)
In almost all peace-time governmental decisions economic results are a dominant motive. The imperial conference among the dominions of the British Empire now being held at London is largely given up to questions of trade regulations. The delegate for Canada proposed an empire policy of protection good against the rest of the world, with preference among the different dominions.
The most important decision at the conference was made by Chancellor Snowden in announcing that the present government would not favor the adoption of such a policy. This came after the declaration favorable to the principle by Stanley Baldwin, leader of the Conservatives.
A counter-proposal has come from the Board of Trade, pledging Great Britain to purchase a certain percentage of her imports from the dominions. But in this there will be difficulties of allocation. Protection for a compact country like the United States is entirely different from applying the policy to a world empire.
The desire of trade to buy in the cheapest and sell in the highest market then makes all artificial restrictions exceedingly problematical. Each dominion would have to make some sacrifice. The decision of the British Cabinet will have a very important effect on world trade.
Citation: Calvin Coolidge Says: Dispatches Written by Former-President Coolidge and Syndicated to Newspapers in 1930-1931 (Calvin Coolidge Memorial Foundation)
The Coolidge Foundation gratefully acknowledges the volunteer efforts of J Mitchell Rushing who prepared this document for digital publication.