Untitled

Hokitika Guardian, 8 December 1920, Page 2

As a result of the coal shortage which menaces the <?nly the United States and Great Britain are assured of

sufficient fuel to operato their industries at capacity during tho coming winter, writes Mr Joseph A. Broderick, vicepresident of tho National Bank of Commerce in New York, in an article on the international coal trade in a recent issue of Commerce Monthly, the hank’s magazine. He points out that, although eventually a balance will bo reached between demand and production/ this cannot be hoped for in the near future. Neither shipments from new and remote fields nor the increased use of fuel oil and other substitutes will solve the problem for the present. Tho article indicates that at thei. present rate of monthly receipts not a single importing country in Europe or South America is receiving a supply which is 'oven approximately adequate. Franco is now receiving coal at about two-thirds | the rate which would bo necessary to assure operntion of French industries at I capacity; Italian receipts. are about three-fifths of the estimated necessary amount; Netherlands is receiving only one-third of the amount of coal required by its industries, and Norway is receiving approximately one half. The situation is no better in the case of the ■ other chief European and South American buyers in the international market. The international coal trade is entirely dominated by the United Kingdom, Germany and the United States; neither does there, appear to he any prospect for years to come of important additions from other sources to the amount of coal available for the export market. The remedy for the situation is undoubtedly in the hands of this country. As Mr Broderick points out, modern industry has been built on coal, and it is dependent on adequato supplies for its maintenance. If only the British miner can view the position in a logical perspective and not be swayed by every revolutionary doctrine that is preached, then there is still hope for the future. In New Zealand the Government is still straining every effort to get coal, and in some instance that from abroad is costing as much nS £8 per ton. The. stringency of the supply must affect the economic position all round, and the question is of the greatest gravity.