The Daily News. THURSDAY, DECEMBER 16, 1915. BRITISH TRADE.

Taranaki Daily News, 16 December 1915, Page 4

The Daily News. THURSDAY, DECEMBER 16, 1915. BRITISH TRADE.

The British Board of Trade returns for the month of November entirely dispose of the illusions which the Germans have entertained with regard to their much boasted blockade of Britißh commerce by means of piratical submarine raids. There have been losses of vessels and cargoes, but these have caused comparatively little concern, and were it net for the lamentable loss of lives occasioned by German submarine torpedoes we could regard the so-called blockade as a veritable fiasco. As it is we have to be content with the absolute failure of the German commerce raiding campaign, and take what comfort we can from the fact that the enemy's ships have been swept from all seas, and that her oversea trade has been totally extinguished for the time being, and a large proportion of it is lost for all time. It is therefore most gratifying to turn to the British trade returns and find that not only has the German submarine campaign signally failed in its purpose, but that the trade has increased very materially. Prior to the war, imports into the United Kingdom may be said to have been at the rate of sixty millions sterling a month, and the exports forty-four millions. Although in the early month's of the war there was a perceptible decline, the recovery quickly set in so that by March last the imports had increased to such an extent that the rate of exchange was seriously affected. By June last, the imports had risen to over seventy-six millions, which, constituted a record. The figures for November show the value of imports as £71,647,100, while exports were set down at £35,639,166, or about eleven millions more than the figures for the corresponding period in the previous year, when trade and commerce were suffering from the disorganisation resulting from the outbreak of hostilities. It must be remembered that these figures do not include the vast shipments of provisions and munitions for the British forces at the various war areas, though they include actual sales to the Allies. The outstanding feature of this healthy trade revival in the fact that it set in just about the time the German blockade by submarines was instituted, and it has gone steadily ahead, so that it would appear as if Germany's futile efforts to restrict British trade had, instead, given considerable impetus to its volume. When it is considered that Britain has lost some of her profitable markets, her increased expfrt trade is all the more gratifying, and when, as is anticipated, new markets in the East and elsewhere have been acquired after the war, Britain's commercial position should be far stronger than ever, especially if the Dominions loyally combine to deal only within the Empire. It iB by such means 'that the Motherland will be able to re-

adjust her very heavy burdens after the war, and the need for Empire trade will be just as pressing after peace is declared, as is the urgency for help with men during the war. There may be some who are under the impression that the whole fabric of British industry lias been compelled to give way to the manufacture of war material, but the trade returns tell a different tale, and testify to the marvellous adaptability of the Motherland to cope with all emergencies, and continue business aa usual.