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George Reid was a strong advocate of free trade, and during the first Federal Convention in March 1891, he opposed Federation as, with the proposed policies as they stood, he believed Federation would force New South Wales to surrender its free trade policies.

Following this, whike he was Premier and Treasurer, he changed his mind and supported federation, even suggesting a second Federal Convention. He then drew attention to the draft Constitution's faults from a Free Trade perspective, which enabled it to be modified and improved.

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