DOMESTIC TRADE IN BRITAIN

Press, Volume LXXI, Issue 21387, 1 February 1935, Page 11

DOMESTIC TRADE IN BRITAIN

o IMPROVEMENT SEEN 15V HANKER EXPORT OUTLOOK (iLOO.MY LONDON, January 30. At the Westminster Bank meeting, Mr Rupert Beckett, who presided, said:—"'The history of last year demonstrates that on the whole the trade of this country made a fair measure of progress, not altogether uniform, but sufficient to justify the claim that the worst of the depression has been put behind us; and w: have; good reason for maintaining confidence.

"Statistical evidence points con vincingly to an improvement in British industry and trade in the last 12 months. Activity throughout thj year as measured by the index oi industrial production was at level.-; appreciably higher than 1033, which had a better record than 1932. "Employment in 1934 was approximately the same as in 1929—much higher than any other year since the war. "The last year has shown how inadequate is an increased domestic trade beyond a certain point to effect a really drastic reduction in the formidable total of unemployed. We are forced, therefore, to look to our export trade by which alone can be preserved the structure we reared.

"There is no sign of any relaxation of the strangling grip of restrictions in all their varying forms of tariffs, quotas, import licenses, and the like." He referred to barter agreements and exchange restrictions as formidable obstacles' which continued to exercise a stranglehold upon export trade.