Thereupon Mr. Chamberlain examined the results of the Canadian preferential tariff, showing that England derived very little commercial benefit from it, and continued: "I think the very valuable experience, somewhat disappointing and discouraging as I have already pointed out, but the very valuable experience which we have derived from the history of the Canadian tariff, shows that while we may most readily and most gratefully accept from you any preference which you may be willing voluntarily to accord to us, we cannot bargain with you for it; we cannot pay for it unless you go much further and enable us to enter your home market on terms of greater equality." On the subject of imperial defence, the result of the Conference was an agreement from Australia and New Zealand to increase their contribution towards an improved Australasian squadron and the establishment of a branch of the Royal Naval Reserve to £200,000 a year for the former and £40,000 for the latter; an agreement from Cape Colony and Natal to contribute £50,000 and £35,000 per annum respectively toward the general maintenance of the Navy, and a pledge from Newfoundland of £3000 per annum toward a branch of the Royal Naval Reserve. From Canada no agreement was reported. In a "Memorandum by the First Lord of the Admiralty" of interviews held with the several Premiers it is said: "Sir Wilfrid Laurier informed me that His Majesty’s Government of the Dominion of Canada are contemplating the establishment of a local Naval force in the waters of Canada, but that they were not able to make any offer of assistance analogous to those enumerated above." Concerning preferential trade, the following resolutions were adopted: "1. That this Conference recognises that the principle of preferential trade between the United Kingdom and His Majesty’s Dominions beyond the seas would stimulate and facilitate mutual commercial intercourse, and would, by promoting the development of the resources and industries of the several parts, strengthen the Empire. "2. That this Conference recognises that, in the present circumstances of the Colonies, it is not practicable to adopt a general system of Free Trade as between the Mother Country and the British Dominions beyond the seas. "3. That with a view, however, to promoting the increase of trade within the Empire, it is desirable that those Colonies which have not already adopted such a policy should, as far as their circumstances permit, give substantial preferential treatment to the products and manufactures of the United Kingdom.