BRITISH & FOREIGN ITEMS.

Hokitika Guardian, 20 January 1921, Page 2

BRITISH & FOREIGN ITEMS.

CABLE NEWS,

<l». BY TELEGRAM —PRESS ASSN., COPYRIGHT. BRITISH TRADE. AN OPTIMISTIC VIEW. (Received This Day at 8.30 a.m.) LONDON, Jan. 19. Mr Kelleway has issued a statement in which he says that despite the present depression there are grounds for restrained optimism regarding f!he trade outlook, chiefly because we are leaving the period of abnoral values and finding real values, leading to stability and progress. He emphasised the point that many ,of those voicing labour aspirations viewed the situation superficially, in claiming that the increased production preached since the war, Inad led to over production; and consequent unmployment, the fact being that production Was still unequal I to the world demand, hut many countries were unable to provide goods or the services necessary. The shrinking of employment and scarcity of profitable orders had succeeded upon the armistice, but the British credit system luad weathered the worst storm and had demonstrated its solidity in a striking -manner, when collapse seemd,possible. The coal output had suddenly overtaken the demand, which was lessened by the slump, but it ,was improbable that the American invasion of European markets would continue permanently. The terminable international credits scheme was ,a step in the right direction, but was not likely to 'be ready to operate in time to relieve the present,, depression. Meanwhile Mr Kelleway_recommended the fullest use of the department’s export credits ischeme.

INCREASED OUTTUT URGED

(Received This Day at 9.45 a.m.) LONDON, Jan. 19

Air Kelleway, discussing the trade outlook, said it was necessary to recognise that while values of exports iu 1920, showed a magnificent leap, the quantities had shown a big leeway compared with 1912. The goods exported from Britain in 1920 amounted to only fifty-four per cent of the quantity sent out in 1913. He hoped that manufacturers, despite the passing depression would courageously prepare for increases overseas demand, probably .with, in a few months, particularly from the dominions, whose markets were serving a wealthy population of increased purchasing power and offered Britons substantial advantages over competitors. It was not right that United States should provide three-quarters of Canadian imports. British exporters were hampered in Australia and New Zealand owing to the exchange Whatever the remedial measures of Governments, he feared that ,a substantial improvement was unlikely before March, when wheat would exert a beneficial influence.

CABLE SERVICES,

SPEEDING-UP URGED.

(Received This Day at 9.45 a.m.) LONDON, Jan. 19

Air Illingworth replying .to a deputation of representatives of newspaper interests of Britain, and the whole Empire, stated the Department was doing everything possible,to minimise cable 'and telegraphic delays. He was discussing a duplication of the Pacific cable with the Governments concerned and hoped shortly that a decision would be reached whether t»e whole cable or only .portion of it would be duplicated. Imperial trans-Atlantic cables were being fitted with apparatus to speed up transmission. Government were also pushing ,on with the Imperial wireless chain. The LeafieldCairo section was already approaching completion and were only awaiting the delivery of material, after 'which he hoped that other stations, India, Singapore, Hong Kong and Australia would soon be completed. The Post Office has already established wireless services to several parts of the continent, including Scandinavian countries, Berlin, Paris, Vienna, Prague and Belgrade.