BRITISH EXPORTS

Evening Post, Volume CXXVI, Issue 135, 5 December 1938, Page 12

BRITISH EXPORTS

DEFENSIVE POLICY

WELCOMED IN LONDON

CIVIL PRODUCTION

<By Telegraph—Press Association—Copyright.)

(Received December 5, 9 a.m.)

LONDON, December 4,

The City has welcomed the announcement by the Secretary of the Department of Overseas Trade as to German trade methods, particularly as it followed some hints that re-arma-ment finance would be such as would avoid increased taxation, but would rather favour the raising of loans. -If this should be the course taken, it would indicate the anxiety of the Government to maintain civil production for the export trade. However this may be, some financial commentators on the present economic situation doubt whether the purely internal efforts of the export industries will be sufficient in themselves, having regard to the German State backing of an export trade drive. The German resources are held to be superior to the British cartel funds.

The statement of the Secretary of the Department of Overseas Trade above referred to was in effect that, if necessary, British industry would be so organised as to combat German trade methods in South-eastern Europe and generally in the markets of the world. New methods would be introduced as new situations arose. The form of those methods was under the consideration of the Government. British trade would continue to be conducted along "orthodox and tradition financial lines.''