BRITAIN’S HOME TRADE

New Zealand Times, Volume XXXVII, Issue 8356, 17 February 1913, Page 6

BRITAIN’S HOME TRADE

Last Saturday we gave some particulars of Great Britain’s industrial activities for the year 1907, as ascertained by the first census taken under Mr Lloyd George’s Census of Production Act of 1906. It was shown that the net value of the labours of seven million workers amounted to £712,000,000, or £lO2 per employee. These figures do not deal with agriculture and fisheries, concerning which only voluntary inquiries were made. As i early as can he estimated the number of persons employed in those industries was nearly three millions, and the value of the product about £195,000,000. A general report, reviewing the results of the census as a whole, is prefixed to the series of group reports. In it an attempt is made to gather together all the information furnished respecting the various industries, including agriculture and fishery, and to form an estimate of the value of the output of the United Kingdom in 1907, taken as a whole, and free from the duplication which affects the aggregate figures of gross output, owing to the inclusion in the output of certain trades or firms of products which, serving as materials for other firms, have their value duplicated in that of the output of these latter. The extent of the duplication cannot be stated with precision, but, after making the best estimates available, there is shown for the value of the output of the United Kingdom, taken at the point where the agricultural, mining, manufacturing, or_pther processes are completed, and distribution for final consumption, or export begins, a sum of between £l,433.000. and £1,448,000,000. Deducting exported goods valued free on board at £463,000,000, there remain for that part of the, output for consumption in the United Kingdom goods of a value between £1,003,000,;00 and £1,038,000,000. The imports into the United Kingdom in 1907 (after deducing re-exports) included goods which appear to have passed into consumption without further manufacture valued at the port of landing at £232,100.000, including duties. It is further roughly estimated, on the basis of .nquiries that have been made, that from £428,000,000 to £563,000,000 have i be added 1 to the value of goods at the factory or port of entry in order to cover the expenses and profits of distribution and transport before they reach the hands of the consumer. The ’total value of all the goods consumed in the United Kingdom in 1907 (including as consumed goods converted into fixed forms, such as buildings or machinery) thus appears to lie between £1,663,000,000 and £1,833,000,000 The goods represented by this total of somewhat over 1700 million pounds sterling were not all available for immediate general consumption, since, in order that production might continue on a permanent basis, provision had to be made for the maintenance of p'-’nt and other forms of capital. The sum required for that purpose is roughly estimated at between £170,000,000 and £180,000,000, including from £75,000,000 to £85,000,000 for the maintenance of the mining, manufacturing and building capital of_the country. That capital is estimated to have been about £1,500,000,000 in_l9o7. , Deduction for the necessary maintenance and replacement of capital being made, the remainder of tbe_ £1,700,000,000 represents the total income of those classes whose services in production, distribution, and transport are represented by the value of the goods produced.