BRITISH TRADE.

Auckland Star, Volume LVI, Issue 244, 15 October 1925, Page 6

BRITISH TRADE.

The September figures for British trade are not cheering, for while exports have decreased but slightly, there has been an increase of several millions in imports. The margin 'between exports and imports, which had been narrowing, is widening again. There is, however, more satisfactory news about the coal industry, which is a large factor in the decline of exports, and this month's figures may show an improvement. In the meantime, all comment on the industrial and commercial situation is by no means gloomy. The "Monthly Review" issued by Barclay's Bank, for example, deprecates "a tendency, both at home and abroad, to concentrate on the adverse factors concerning British trade, rather than to view the position as a whole." It thinks that the real reason for surprise is that British trade has not suffered a great deal more from world-wide conditions, and sees no reason for the assumption that Britain lias lost its reputation for quality or that with a return to normal conditions throughout the world its manufacturers will not obtain their share of increased trade. The review points out that coal and shipbuilding, two of the most depressed industriei? in Britain, are also languishing in other countries, and that in 1924 Britain built a larger percentage of the world's new shipping than before the war. There is evidence of progress in trade with other countries. Before the war the Argentine bought more goods from Britain than from any other country, and this position, lost as a result of the war, was regained last year. A more cheering report, because it comes from an outside source, was made recently to a representative of the "Christian Science Monitor," by Mr. J. J. Davis, Secretary of the American Department of Labour, after a tour of Britain and Ireland. Mr. Davis was convinced that worldwide depression, and not backwardness of industrial methods, was responsible for British industrial troubles. In every industry he found keen interest in modern methods, and was much impressed with the energy shown in using labour-saving devices. "Especially in the case of the younger generation of factory and industrial managers did I find an enlightened outlook, and I was impressed by the fact that these men are constantly besieging their boards of directors for money with which to improve their production methods." After all we have read of the conservatism of British manufacturers, this is very refreshing. There is a great deal of life in the Old Country yet. The great pity is that prospects of recovery should be darkened by industrial quarrels.