COAL & TRADE

Wairarapa Times-Age, 27 July 1938, Page 5

COAL & TRADE

MANIFESTO BY BRITISH SHIPOWNERS SITUATION REGARDED WITH ALARM. PROBLEMS OF DEPENDENCE ON OIL. (Recd This Day, 9.50 a.m.) LONDON, July 26. Shipowners have signed a, manifesto, expressing alarm at the decline in the use of British coal. The manifesto says:—“The total displacement of coal in the Navy and in half of the mercantile marine 'has made our freedom of movement on the high seas dependent on the good will of exporters of oil. It has also largely reduced tramp tonnage and has increased transport costs to British manufacturers. So-called political remedies have merely resulted in an increased cost of bunker coal and many shipowners are forced to import from the Continent. The enormous sums sent overseas to buy oil would not be of such importance were Britain able to export more manufactures, but rising costs threatened to reduce foreign trade. The adverse trade balance is rising yearly.”

TO ASSIST SALES ABROAD. STATEMENT BY MINISTER. (Recd This. [ ,Payi-;?;9.50 a.m.) . -July 26. The Secretaryffor'M'ineS, Captain H. F. C. that the Government, recognising- the difficulties of the-coal , exports trade, is determined to. stand by the industry and is considering the proposal of a levy on coal sold in Britain in order to assist sales abroad. ,