The Dominion TUESDAY, APRIL 1, 1930. RANKING OF THE BRITISH EMPIRE

Dominion, Volume 23, Issue 159, 1 April 1930, Page 10

The Dominion TUESDAY, APRIL 1, 1930. RANKING OF THE BRITISH EMPIRE

Corrective of many popular fallacies about the relative place of the British Empire in world trade is the memorandum on the subject issued this year by the Imperial Economic Committee. So much is heard of the expansion of the United States, or of France and Germany, that it is cheering to learn that the Empire is still well to the fore. There is no evidence in the trade statistics of that decadence and decline of which the Jeremiahs are always talking. The i-nost, striking fact emerging out of the mass of figures supplied is the rapid advance of the Empire overseas. Its trade has more than doubled since 1913 and exceeds that of the United States whose rate of progress has been about the same. It could hardly be expected that Great Britain, already highly developed and industrialised in 1913, would equal the expansion of her partners overseas but in the same 15 years the value of her trade increased by 50 per cent.

That cannot be considered other than a creditable record if the burden Britain shouldered during the War be remembered and the load of debt and taxation she has carried since. Moreover if the trade of Britain and the Empire overseas be counted together, it is found that the total in 1928 was more than twice that ofc?the United States—£3Bs2 millions against £1855 millions. It is not suggested that such a comparison is a fair measure of the respective wealth of the two national units; merely that it does demonstrate, in spite of much “boost” to the contrary, that the British are still by far the greatest trading people in the world. Since the War, also, the United States has been inclined to take up a patronising attitude toward Europe. She looks upon European nations as too busy with their own quarrels and their armaments to spend much time on business efficiency. In fact, if we would admit it, many of us must confess that we had the idea that Europe was becoming economically a back number. It is enlightening, therefore, to find that Europe in her decadence still dominates the trade of the world. In 1928 the Continent (including Britain) accounted for three times more trade than North America (the United States with Canada and Mexico thrown in for good measure).

It becomes increasingly obvious that when it comes to free competition, the Old World ife more than holding its own against the New. Certainly a lot of ground was lost during the War but that is steadily being regained. • Apparently there is no cause for that inferiority complex which has caused so much Continental resentment against the United States. In fact it is possible that, if Europe were to form a Customs Union and to renounce some of her militarist extravagance, she could resume her world ascendancy beyond any challenge. " /

A point for New Zealand pessimists to explain occurs in a section of the memorandum on volume of trade. It is shown that “the progress of New Zealand appears as twice as rapid as that of the world as a whole.” Canada appears in an even more favourable light although “Australia and South Africa have barely kept pace with the rest of the world.” Taken as a whole, however, the memorandum affords plenty of evidence that the British Empire is going along in the right way. It rates first-class and its boundless resources assure its future position.