BRITISH TRADE

Hokitika Guardian, 16 April 1932, Page 5

BRITISH TRADE

HOPE FOR FUTURE AN IMPROVING QUANTITY. (British Official Wireless.) RUGBY, April l-i. Encouraging results from recent surveys of British industries were reviewed by Mr Walter R unci man during « debate in the House of Commons. He said that Britain was the most highly industrial country in Europe, with her commercial activities still the greatest in the world. Britain’s trade with Europe represented, until recently, nearly one-third of her foreign trade, but there had been a great shrinkage in European trade and Britain would have suffered much more but for the action taken since last August. Importation of large quantities ox goods with which the country could most easily afford to dispense had been cut. The abnormal imports orders of last winter appeared to have kept down imports by at least £8,000,00!) directly, and £16,000,000 ox £17,000,000 indiiectly.

MILLS AGAIN WORKING. In the "West Riding of Yorkshire there was greater activity than for years past, the juil'is having ceased short-time work and many of them were working overtime, There wore signs of a revival in some, although not all branches of the cotton trade. The manufacture of electrical machinery was regaining the foreign market as well as retaining home customers.

]f the measure of activity of British trade wnjs taken on exports alone, it would' be found that Britain had suffered less from the world’s shrinkage than any country. The decrease in the first quarter of this year was about £11,000,000 below that for the first quarter last year; whereas the British diminution had been 11 per cent., the United States (shrinkage, taken over the whole three months, mounted to more than 35 per cent. German exports fell 21 per cent., French 33 per cent., and the Netherlands over 34 per cent. British industries had adapted themselves to the needs of the present time and the work people had shown tmnquality and determination unrivalled in the world. Britain might he accused of slipping off the gold standard and sacrificing her leadership in the financial world, but as Lord Revelstoke . said: “While we have given up the leadership, nobody else has taken it up.” EMPLOYMENT GROWS.

From September, 1930, to March, 1931, the number in employment diminished by well ovcv 250,000. From the end 1 of September, 1931, to tbe end of Miu’t'h, 1932, there an increase early 250,000 in the number of employment, This wn? a remarkable change and showed that the country’s position had improved by no leas than 486,000 in employment. Every other country showed a heavy decrease. Over 390 foreign manufacturers had in the last nine months contemplated the establishment of factories in Britain, whilst seventy British manufacturing firms were extending their works or setting up new undertakings with the assistance of foreign experts. In tlie last few months production had started in forty-three of those factories built by manufacturers of many and various nationalities and covering a wide range of industries, all of which were covered by the importation order of List winter.

The iron and steel industry, coal, marine engineering and shipbuilding showed no material signs of improvement and their condition was causing the greatest anxiety. There appeared to he no chance of a revival until there was a marked' revival in the world’s trade. OTT AAV A CONFERENCE. Referring to the Ottawa Conference, he said that they must go there with a sentiment strongly in favour of Imperial action. Britain had advantages to give the Dominions and they had advantages to give Britain. The Government was already making coasider•ihle progress in sorting out the industries in which benefits could he conferred with the greatest advantage and the Dominion,? were also working on their own schedules and were examrrt- , ins the industries’ which they thought j Britain could most help. Any effort made to extend the trade of the Em|pi re would not be on an exclusive , basis in the sense that it- would shut ■ Britain off from the rest of the world. , Having made secure the position in i prirnin the next stage was to extend ! H„. traffic within the Empire amr xTie next, to extend British trade along freer channels throughout the world.