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British Empire Economic Conference

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    Imperial Economic Conference
Host country 23x15px Canada
Date 21 July 1932
18 August 1932
Venue(s) House of Commons chamber, Parliament Hill
Cities Ottawa
Participants 9
Chair R. B. Bennett
(Canadian Prime Minister)
Follows 1930
Precedes 1937
Key points
Imperial preference, tariffs, monetary standards
File:Canada-Stamp-1932-Ottawa Conference.jpg
Postage stamp, Canada, 1932: commemorative overprint for Ottawa Conference.

The British Empire Economic Conference (also known as the Imperial Economic Conference or Ottawa Conference) was a 1932 conference of British colonies and the autonomous dominions held to discuss the Great Depression. It was held between 21 July and 20 August in Ottawa.

The conference saw the group admit the failure of the gold standard and abandon attempts to return to it. The meeting also worked to establish a zone of limited tariffs within the British Empire, but with high tariffs with the rest of the world. This was called "Imperial preference" or "Empire Free-Trade" on the principle of “home producers first, empire producers second, and foreign producers last”. The result of the conference was a series of bilateral agreements that would last for at least 5 years.[1] This abandonment of open free trade led to a split in the British government.

The conference was especially notable for its adoption of Keynesian ideas such as lowering interest rates, increasing the money supply, and expanding government spending.

The United States was annoyed by the implementation of Imperial Preference as it affected them economically.[2]

It was the last Imperial Conference that any Irish government ever participated in.

Heads of delegations

The conference was hosted by the Governor General of Canada, The Earl of Bessborough, representing King George V and included the Prime Ministers and other leaders of the Empire and members of their respective cabinets:

Nation Name Portfolio
23x15px Canada R. B. Bennett Prime Minister (Chairman)
23x15px Australia Stanley Bruce Assistant Treasurer of Australia
23x15px India Sir Atul Chandra Chatterjee Viceroy's representative
23x15px Irish Free State Seán T. O'Kelly Vice-President
23x15px Newfoundland Frederick C. Alderdice Prime Minister
23x15px New Zealand Gordon Coates Finance Minister
23x15px Southern Rhodesia Howard Unwin Moffat Prime Minister
23x15px South Africa Nicolaas Havenga Finance Minister
23x15px United Kingdom Stanley Baldwin Prime Minister

Notes

  1. ^ "Imperial Economic Conference". Encyclopedia Britannica. Encyclopedia Britannica. 
  2. ^ A. Dobson, "Economic Diplomacy at the Atlantic Conference", Review of International Studies (1984) 10, pp.143.

See also

Sources