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Hokitika Guardian, 24 October 1933, Page 4

\Vh:lh in no way disparaging the improvement in domestic trade, it is necessary to remember that a gieat increase in our exports is'essential to our prosper.ty and to the prosperity of th, world at- large, states an article in the monthly Review of Barclay’s Bank. Therefore, any optimism arising from such satisfactory features as the ieduction in unemployment must be severely tempted by the reai.sation of the fact that our experts are still abnor mally low and that little or nothing has been done to remove those obstacles to international trade which itis now universally recognised must be removed before overseas trade' can again be bu'.lt up to its former proportions and overseas investment resumed. A resumption of overseas lending by Britain would greatly faci'itate world recovery, and it may safely be assumed that because cf our traditions and longer experience, other nations will look to us for a lead in this matter. In a world where protectionist policies have been allowed to develop to mch an extmt that they threaten the whole basis of international trade, it is verv de3 - rable that Britain shook!, as far as possible, refrain from adding to the existing barriers and endeavour to m" 1 - mote a movement in the o r '’'°site direction. The failure at the Wor’*d Economic Conference to make any real prom-ess in the removal m- reduction of these imnediments would, for the time being, seem to preclude any ma«s attack on the problem, but it i« uuthinknb’e flint all nations will be "’Minor to areuat the. p'- es ent posit - or> indefinitely and, in tha absence of multilateral agreements, tV much slower method of bilateral tr n ati°s may profit"hlv be adontel bv t l,nc e countries which recognise the need for greater freedom of trade.”