TRADE OF BRITAIN

Hokitika Guardian, 14 March 1928, Page 1

TRADE OF BRITAIN

SIR ROBERT HORNE TAKES HOPEFUL VIEW. AUCKLAND, March 12. “I am of opinion that trade in Great Britain has taken a definite turn for the better,” said Sir Robeit Horne, who is returning to England by the Niagara. “It is true that there is a certain depression among what are known as •tho heavy trades’ such as coal, iron and steel. Shipbuilding, which was in the doldrums until recently, has made a new beginning, and J believe is likely to do well in future. There has been great activity in many ot the other trades. The chemical industry is having a good time and the electrical industry lias developed very greatly since the war. The motor-ear industry lias also experienced a great revival, and has excellent prospects. “I am not one of those who are too ready to predict a revival of trade, but what I have, seen seems to justify more confidence. At present, on figures, the balance of trade appears largely against Great Britain, but when the invisible exports are taken into account such as shipping interests and foreign securities the year 1927 shows a credit balance of £98.000,000 as against an adverse balance in the previous year of £'7.030,030. The amount of money which went into industry in 1927 very greatly increased, showing that people with money to lend obtained renewed confidence in the condition of business. “It is a gratifying feature to us that our best customers in this part of the world are New Zealand and Australia. New Zealand still tops the list with British goods imported in proportion to its population, and in bulk Australia is Great Britain’s best customer outside the Indian Empire. I gratefully acknowledge this along with all other British business men." Sir Robert continued that most ol those at Home wished for piof.uvnce to lie enlarged to its utmost. "'ho strength of Empire.” he said, “van only be confirmed and sustained h,v closer material interests to support the sentimental ties which unite us.” When Sir Robert returns to England lie will urge the leaders ol business there to come out and seo New Zealand and Australia for themselves, instead of obtaining their information from commercial travellers m Australia.