The Chronicle LEVIN. FRIDAY, FEBRUARY 18, 1916. BRITISH TRADE AND THE WAR.

Horowhenua Chronicle, 18 February 1916, Page 2

The Chronicle LEVIN. FRIDAY, FEBRUARY 18, 1916. BRITISH TRADE AND THE WAR.

-Llie war has hampered Lire . t Jiiittain's trade to some extent bu-»> tlib diminution in volume lias been almost negligible wlien (Compared with the immense totals concerned. L''or tli:s desirable state ol affairs the U'lf/ undoubtedly is to be tlmnJted, an'/ citizens in every part of the British I'mpirc arc sharing in the Oenelite wiilch »i almost unrestricted trade confers; Ntjw Zealand ancl Australia especially so. The facts ol' the case are clearly .set out by a London authority whose let ter appears in the latest issue of the Mercantile Gazette . of -New Zealand, lr, November, fie says, the foreign trade of Great Kritain was exceedingly, good. So far as exports wore concerned, tiie level reached was tile highest since the outbreak of war. We sent abroad (in November) goods to the value of £33.(339,166, or £11,057,547 more than in November, 1914, and only £9,117,000 less than in the corresponding .month ol 1913, when we were enjoying the blessings ol peace and of • great prosperity. Imports totalled £71,047,160 a jump ol no less £10,129,030, though ws compared with .November, 1913, the advance is only £3,180,000. Willi these figures it is superilucus to point out that tiio trade balance, even after allowing for 'what is called concealed revenue, such, for instance, as that derived by shipowners from neutral shippers, is very much against us, but. it is a matter Tor congratulation that this adverse trade balance is below the average of preceding months, being £12,000.000 last month, as compared with, an average ol £20,000,000 during the past eleven months. A further cause of satisfaction is an indication that the recently imposed import taxes are having a restricting influence on oxtravagance. These is a drop of '26J million gallons in the quantity or petrol .brought in, and a similar story is revealed as regards motor cars, though one is impressed of the growth of. .this industry by the fact that, althougn there is an ad valorem duty of 33 1-3 per ceut on motor car imports, we received last month 1,713 cars valued at £278,421 as against 383, valued at £177,262 in November, 1914, when there was no> duty. Of course in all trade figures the high cost of foodstuffs and goods swells the total enormously but this advance is not so pronounced at' m prev otis months, because the comparison is MW toeing made with war pr.ces. Such articles as coffee, barley, oats, eggs, meat, mutton and sugav (raw ana refined) are all below the aggregate value of November, 1914, though in many cases the quantity shows a rather larger decrease. This feature is apparent in the fact that the value of food, drink and tobacco imported was £33,079.277, or only £2,125,000 more than a year ago, but a jump of £,345,-

000 over the total of November, 1913. \ Grain and flour went up 12" millions sterling to 1:9,520,007, and meat rose nearly a million, but there was a fall of over two millions to £8,302,000 m the value of the non-dutiable goods received. Sugar accounts tor more than the full amount of the change, with a total of £'2,889,-125 as against £(i,538,527 in November, 1914; that, if may be recalled, the Government purchases of .sugar were arriving freely, whereas, slocks being abundant now, there is no necessity for the State to purchase on tlie .same scale. Imports of raw materials advanced £7,595,719 to £22,639,743, of which the principal items were cotton, wood and timber and textile materials, while we tooK £1.5,74-1,310 of manufactured goods— an increase, of £6,318.231. Oilier metals and manufactures (except iron and steel) account for over a million rise, oiid same remark applies to chemicals, dyes, colours and drugs. The remainder of the advance Is "spread over tlie list. Colonial trades continue to grow, and the prosperity ol the dominions is explained by the higher prices being paid for their products in the Mother Country.