The Taihape Daily Times AND WAIMARINO ADVOCATE. SATURDAY, JANUARY 16, 1915. GERMANY’S LOST TRADE.

Taihape Daily Times, Volume 7, Issue 114, 16 January 1915, Page 4

The Taihape Daily Times AND WAIMARINO ADVOCATE.

SATURDAY, JANUARY 16, 1915. GERMANY’S LOST TRADE.

With whic,b is inorporatod The 7'n.ihr.pt- Post ,uj Wuimiirixm News.}

British manufacturers are taking active measures to devise means, with the object of equipping themselves for an extension of business; to gather in the trade which Germany and Austria have lost. They are seeking factories wherein to establish machinery and other requisites necessary for carrying on operations on lines so successfully followed by onr enemies. With the possession of a fair proportion of this trade Britain will, with successful’operation, soon be in a stronger financial position than she was before the commencement of the war. It is not very likely that British bankers and financiers do other than smile at America’s talk about ousting London from the proud position she holds, and about making New York the World’s ClearingHouse. The United States has full opportunity to participate in picking up lost European trade, and may yet successfully do so, but in aiming so high and for so much seems very like grasping the shadow and losing the substance. It does not need much, insight to realise that Europe must in this generation at least, remain the heart of the world’s trade, and that a. r heretofore all drafts will continue to bo made on London, In suggesting that New York should become the hub of the financial uni verse our American friends were merely, overdrawing the Yankee longbow. If America can confine herself to becoming a rival to Great Britain in the bustle for the lost- German and Austrian trade, we may .find her to turn out a very dangerous opponent, but so loin as her business people soar to realms of a probability that an fringing on the impossible, British .trade ancL-finance have'little U fear. _ The British manufacturers’ great drawback is want of money, without it a successful campaign cannot be assured. With the war drain upoiYthem, to say nothing of the loss'of some sixty millions that Germany deliberately and designedly robbed them 0f,., they can have but little cash available for entering upon a campaign of this character. Yet someway out of the difficulty may be found. In Germany, for years past, traders and manufacturers not only had Government assistance, but they also, had financial help from banks in a way unknown in onr tradingoperations. German banks not only advanced money on securities as we understand them, but they also made advances on orders obtained; and it was this assistance that enabled Germany to force her way' into the foremost ranks' of the -world’s traders, if British banks can be induced to make advances on orders as Germany did, then success should not be hard to obtain; but will the banks consent to consider something so foreign to their established business custom ?Banks' are often accused .of unnecessary conservatism, -but are we not'rather inclined to forget that it is what we term conservatism—that is safe business—thaf-has materially helped towards making London the "world’s financial centre’ Some scheme'may yet he evolved, however, of assisting British manufacturers. Unden the circumstances, banks, with a co-adjutant government, may yet find it possible and advisable.|o advance money on orders obtained, Should this prove the ease- British manufacturers would have' no difficulty in gathering up'a very fair proportion ; the tradeAh'at Germany and A u • tria have now completely “ lost., Brpj3hv.tr aiders' would be able to J strike while tl*e ■irwris'ffi'Of £pfd .

develop a trade in which all parts of the Empire would appreciably benefit.