RISING TREND

Gisborne Herald, Volume LXVI, Issue 20116, 9 December 1939, Page 7

RISING TREND

TRADE BUOYANCY BRITAIN’S EXPORTS RECOVERING LEEWAY MINISTER’S SURVEY DEBATE IN COMMONS LIBERAL AMENDMENT (Elec. Tel. Copyright—United Press Assn.) (British Official Wireless) Reed. 2.30 p.m. RUGBY, Dec. 7. Replying in the ■ House of Commons to the debate on the Liberal amendment to the Address-in-Reply to the King, the President of the Board of Trade, Mr. Oliver Stanley, said: “The first month of the war showed a very heavy fall in thfe value of our export trade namely something like 38 per cent. I cannot pretend that the fall was unexpected. “The immediate effect of an outbreak of war is to destroy the conditions necessary for trade. From the mere impact of war upon our peacetime export trade British exports fell in the first month of the war of 1914 by 46 per cent. In the second month of the present war there was some improvement. Our machinery began to work more smoothly and some of the shipping difficulties were reduced. A comparison between October and September showed a rise from £23,100,000 to £24,600,000 or a rise of 7 per cent.”

Nearly at Pre-War Level

He said he could not gi\'e the final figures for November, but on the preliminary figures, which there was no reason to suppose would vary very much, there had been a major change in our export position. Whereas in October the rise over September was of tile magnitude of 7 per cent., in November the rise over October was in the neighbourhood of 50 per cent.

The result was that the level of exports for November was about back to the level of exports of the last months before the war began. In the last war, said Mr. Stanley, it was not until the spring of 1916 that our exports got as close to the comparable months of the last year of peace time as well had in November of this year. Restrictions Necessary

He claimed that the facts he had given showed that a very considerable export trade was now being done and that the export trade could be and must be increased.

Referring to trade restrictions, he said there were a certain number of articles and raw materials so urgenly required for the purposes of national defence that we could not afford to export them, or we could only allow them to be exported in limited quantities. It was only by a system of export licenses that we could prevent valuable exports from this country reaching the enemy and so aiding" them in their war efforts.

Coal Trade Expansion

“Though these restrictions . are necessary, it has been and will be our constant effort to reduce them to the minimum and to see that they operate as smoothly as possible,” said Mr. Stanley. Turning to the efforts at increasing the volume of exports, Mr. Stanley said: “It is along the accustomed old channels that the great volume of our export trade is being done and that the best possible hope lies of an increase." Referring to coal, which he described as the most important and valuable of our wartime exports,. Mr Stanley said the coal exports had expanded considerably since the war stcirtsd. “Over a large range of the export trade to-day. markets are not the real difficulty,” he declared. “We have evidence from a wide variety of trades that not only are our enquiries up to peacetime level, but they are increasing.” During the debate on the Liberal amendment, which had been moved by Mr. D. Owen Evans (Lib., Cardiganshire), certain criticism was made against the falling ox of British exports and doubts were expressed as to whether the best use of the financial strength of the country was being made. » , , Mr. Evans urced that the trade delegations should be despatched to neutral countries. Mr. E. Shinwell (Lab., aeaham). supported the amendment ano argued that the export restrictions should be relaxed.