The Guardian And Evening Star, with which is incorporated the West Coast Times. THURSDAY, DECEMBER 11, 1930. EMPIRE TRADING.

Hokitika Guardian, 11 December 1930, Page 4

The Guardian And Evening Star, with which is incorporated the West Coast Times. THURSDAY, DECEMBER 11, 1930. EMPIRE TRADING.

A rather interesting sidelight on Empire trading is afforded by the consideration given to Argentina, which is of course outsid© the Empire. At the meeting of. the Buenos Aires Great Southern Kailway the chairman said that the amount of British capital invested in Argentina is between £500,000,000 and £600,000,000, so that computations in regard to reciprocal trad® (the hot complete unless the interest dii this capital, estimated at over £25,000,000 per annum, is taken into account, M well iw shipping, insuriuuqc land other earnings. He ©xressed the opinion, therefore, that Great Britain’s interests in Argentina call for special treatment when the import of prim© commodities into this country is under consideration. This statement was made in London during the session of the Imperial Conference, and no doubt it had its effect on the British Government when the Dominions pressed for Imperial preference as against foreign trading with Great Britain. The Dominion representatives were unable to make any impression on the Government, and some of them left at least somewhat disgustedly. Certain proposals were putforward and are to be considered at the Ottawa Conference next year, but as one Minister of the Crown spoke of the proposals .as “humbug,” it is evident the consideration from the present British Ministry will not be favourable. There are those who are looking hopefully to the prospects of a general election in the meantime, and the return of Jl -- Conservatives to power. That party has “come round” considerably in respect to favouring preference for inter-imperial trading, and so far as they are concerned, will lx> prepared to fight the campaign mainly on the Empire trading issue. But the Argentina is not likely to drop out of the picture. A great exhibition is to be held there in the near future, and the Prince of Wales, the greatest of Ambassadors, is to visit there and take part in what nr onuses to be a remarkable function. In the latest figures of the trade with Argentina, the British imports have dropped eleten per cent, and it is interesting to note over the same poiiod the trade between the United States and Argentina, fell in value 34 nor cent. The States, on its part, is despatching Col. Lindberg, a prominent national figure, on a flving miss'-on to South America, and he is to include Ameriina in his goodwill tour. It is said this trip is not unassociatod with possible trading results, and is intended as some counteracting influence to t’-e visit of the Prince of Males. Be Hat as it may, it is clear Argentina figures in any suggestion of F” 1 - nir© trading, and the financial liabilities to Britain must he taken into account when any proposal for Empire preference crops up. I line is also a question of financial interests in regard to Denmark. Denmark is the "rent and successful rival to the Dominions in the supply of daiiv produce to the Motherland. Mr Forbes has confessed his inability to impress the British Government with the claims of the colonial exporters of produce to En'daud, as against the produce from Denmark which commands always a higher and better market. Here again some duo to the financial position is to be obtained in the ordinary trade returns. Thuish exports to Denmark are on tho in-

crease, and in the last six months the gain to Britain has been sc-veii per cent, while trade between Denmark and tho United States over the same period has declined 17 per cent. If, as is rather clear, Britain is a good customer tp Denmark for produce, Denmark in return is a good consumer of British exports, and the trade balance lias its eifect on the public mind. Doubtless, if an attempt were to be made to shut out Denmark produce, the trade with Britain in manufactured goods would fall off by way of retaliation, and in that example we see at once the delicate balance which operates between inter-trading nations. Mr Forbes seems to have realised jtbis fact, and appears to think that quality is the essential feature to sell New Zealand goods abroad. An attempt is being made to improve tlie standard of the cheese exported from New Zealand, and in the sain© way the butter must lie marketed in the highest standard possible. There has not been any adequate explanation of the disparity in price as between Denmark and New Zealand butter. We do not know whether the inter-trading interests account in part or whole for the difference, but we are inclined to think it must have some bearing on the position. However, Mr Forbes’ return will be awaited with interest to learn first hand, his views on the matter, and lie will be expected to throw considerable light Oil' the subject,