UPWARD TREND.

Auckland Star, Volume LXVIII, Issue 108, 8 May 1937, Page 17

UPWARD TREND.

BRITISH TRADE.

BIG INCREASE LAST YEAR.

RAISING OF PRICES.

(By Telegraph—Own Correspondent.)

WELLINGTON, this day

Concrete evidence of the expansion o British trade was furnished to th, annual meeting of the Wellingto, Chamber of Commerce by Mr R Boulter, United Kingdom Trade Com nnssioner in New Zealand. He alsc showed that success had attended th< efforts of the British Government ir their policy of raising prices United Kingdom produce and manu iactures amounted to £440 700 000 a< compared with £425,800,000 durin- tht previous year," eaid Mr. Boulter. "Thi< is an increase of no lees than £15,000 OOC sterling Our exports of imported r ° Se from £5 5.300,000 tc £60,400,000, an increase of over £5,000,000. The import totals were £848,900,000 in 1936 as a-ains £756,000,000 in 1935, an increase of nearly £93,000,000. These figures 1 regard as conclusive proof of trade activity and prosperity. More recent figures show, a continuation of the same trend. In fact the evidence of expansion furnished by the 1936 figures was considerably exceeded by the figures for the first quarter of the current year From January to March this year exporte were valued at £121,100 000 an increase of over £15,000,000 above the figures for the first quarter of 1936. Re-es:porta increased by nearly £3,000,000, and imports by over £29,000,000. Our exports in March reached the highest level since the beginning of 1932.

"last Monday I received from London a review of the measures taken in Great Britain to promote the trade recovery which, has taken place there since 1932, the year which marks the depth of the *''' np in world trade. So far as the Mothd Country is concerned, the change from 1932 has been truly remarkable. In Great Britain to-day there are more men at work than ever before. Earnings and the national purchasing power are still rising, and the volume of industrial production is the highest on record. Various causes have contributed to this improvement. The Government's policy of orthodox finance and balanced Budgets has substantially assisted trade revival by creating the atmosphere of confidence so necessary to business enterprise. But perhaps the most important factor was the raising of world prices.

"This raising of prices, especially of raw materials, primary commodities, and foodstuffs, has been for the last five years the keystone of Britain's commercial policy. The essential aim of world industry remains that of producing commodities, and, until the producers of food and raw materials receive an adequate return for their products, they are not in a position to purchase the manufactured products of the towns. If, therefore, the old, natural, and healthy rhythm of interchange between town and country is to be restored to its pristine vigour, every effort must be made to raise the price the countryman receives for his products, in other words, to increase his purchasing power. To promote production, money must be kept cheap. This the financial authorities of Great BfitAin accomplished during the last few years."