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" "What was the economic policy of Britain going to be? It was not merely a question of a tariff; the great question, Were we going to take such steps as would ensure prosperity in Britain and throughout the Empire, or weakly by a policy of inaction allow the nation to drift on to the rocks? It was impossible for the workers of this or any other country in improve their working conditions unless sound economic conditions existed. And this could only be done by securing the home market and controlling the sources from which the raw materials came. Labour must, for its own protection, take up the question of after-the-war problems, of trade organisation, of securing raw materials. The Government should declare its policy, and the nation should see that no peace was made with the enemy by which these steps, so necessary for our salvation, were rendered impossible.
William Morris Hughes, CH, KC (25 September 1862 – 28 October 1952) was an Australian politician who served as the 7th Prime Minister of Australia, in office from 1915 to 1923. He is best known for leading the country during World War I, but his influence on national politics spanned several decades. Hughes was a member of federal parliament from Federation in 1901 until his death, the only person to have served for more than 50 years. He represented six political parties during his career, leading five, outlasting four, and being expelled from three.
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Mr. Hughes said that if we were not very careful, we should find ourselves dragged quite unnecessarily behind the wheels of President Wilson's chariot. He readily acknowledged the part which America had played in the war. But it was not such as to entitle President Wilson to be the god in the machine at the peace settlement, and to lay down the terms on which the world would have to live in the future. The United States had made no money sacrifice at all. They had not even exhausted the profits which they had made in the first two and a half years of the war. In men, their sacrifices were not even equal to those of Australia. Relatively their sacrifices had been nothing like as much as those of Australia.
He thought an economic policy could be devised that would at once hasten victory and deal with the after-war problems, one that would develop our resources, increase our production of wealth, and provide employment for the people at fair and reasonable wages and conditions of labour. It must also ensure national safety and future commercial and industrial welfare. ... We should endeavour to create a self-contained Empire. (Cheers.) We should no longer be dependent for our raw materials upon an actual or potential enemy. (Renewed cheers.)
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