The Guardian (And Evening Star, with which is incorporated the West Coast Times.) FRIDAY, JUNE 20th, 1924. BRITISH TRADE.

Hokitika Guardian, 20 June 1924, Page 2

The Guardian (And Evening Star, with which is incorporated the West Coast Times.) FRIDAY, JUNE 20th, 1924. BRITISH TRADE.

“ovr.il five years have passed since the signing of the Armistice, and many I>cople express surprise and disappointment that Britain has not recovered in a larger measure her pre-war position at Home and abroad,” said Mr G. H. >?cptt. president of the >'etv

Zealand Association of British Manufacturers. in his address at the annual meeting at Wellington on .Monday. "It must not lie overlooked that Britain's elfin ts in ibis direction necessitated that, because of ber position and standing among the world Powers, and because of the world-wide intlueiiee of her linance and commerce, she should play a very important part in assisting to settle some of the postwar problems of the nations which are i.er competitors in trade and c*nninertv. (,'oiiscquenilV l.er position among the European nations has continued. since 1918. most complex and extraordlimiry. It is a. fairly gencial belief that the great world problems ale largely in the hands of the Eng-lish-speaking taecs, and the fact remains that our Motherland has been, and is, lacing problems that reipiire .sacrifice and courage, and is doing her share towards settling them in tho interests of humanity. Pride takes the place of the spirit of criticism when the facts about Britain’s | ositiou among the nations are ilea'l.i understood. The mental outlook of Europe is .still focussed upon the dark days now past. It is quite clear, how-

ever. that despite internal iollal unrest. internal reconstruction is proceeding apace. Two countries are making no eli'nrt to repay llteir debt to Britain, and have raised protective burners against lliitish products, and most n| them have ceitain advantages in regard to their dept coin ted currencies wlien selling in compulitinii with British manufacturers. Biitain's national debt on March 31st was £",(580.000.000 and her annual interest frill is approximately 2307.000,009. Whilst piling up this tremendous national liability, she has honoured every obligation undertaken in connexion with her war effoits. The huge stun mentioned includes war loans which she is unable to collect. Without doubt her position is unique." The speaker quoted Sir Robert Horne's pronouncement in the House of Commons: Germany .stands ju-dny with her great industrial organisation roeonstrncted, and conditions of efficiency with which we have nothing to compare. France is steadily equipping herself industrially. We are meeting our expenditure only by putting an almost unbearable strain upon the finances nt the country. France to-day has not only re-established her trade; last year she lmd a greater volume of trade than before the war. while wo ate still struggling along with 70 per cent, of our pre-war trade. These matters had a vital hearing upon the prices which New Zealand received for her primary products, declared Mr Scott. The burden carried by Britain reduced the purchasing power of her population. We must marvel that Britain still had a surplus of cash to lend the Dominions, and from the most selfish of motives it behoved its to support her in our purchases. .More than this, we should see to it that our trading basis with other nations mid other Dominions, and especially with the .European countries referred to. left an equitable basis on which Britain could compete in our markets. .It was a recognised fact that no satisfactory or lasting trading basis could lie found for individuals or nations unless the advantages were mutual. There could be 110 gainsaying tbe fact that trading relationships of the Dominions needed 11 spring cleaning, if we desired to see Britain procure in practice the preference which our tariffs were framed to give in theory. Our tariffs did not at all points continue to meet the changes that had arisen in regard to intei-Do-minion and international trade, fn New Zealud. for instance, the depreciated currency duty was not now levied against Frame. We know at tlm same time that France had a tariff which effectively shut out certain British productions. So far as New Zealand was concerned. Franco's depreciated currency quite nullified any preference to Britain when competing against French pioduets. The fact that 29 per cent, of our total imports of motor tyres in 1922 wore French spoke for itself, and this was but 0110 of many items.