DAWN OF A BRIGHTER DAY

Dominion, Volume 25, Issue 172, 16 April 1932, Page 11

DAWN OF A BRIGHTER DAY

Britain’s Remarkable Achievement ’ INDUSTRY AND EMPLOYMENT • Unrivalled Tranquillity & Determination of Workpeople (British Official Wireless) Rugby, April 14. The encouraging results of the recent surveys of British industries were reviewed by the President of the Board of Trade, the Rt. Hon’ Mr. Walter Runciman, during a debate in the House of Commons this evening. ' _ .... Mr. Runciman said that Britain was the most highly industrial country in Europe, with commercial activities still the greatest in the world. Britain’s trade with Europe represented until recently nearly one-third of her foreign trade, but there had been a great shrinkage of European traffic. Britain would have suffered much more but for the action taken since last August, and they could look back on the effects of that policy with some satisfaction. The import of large quantities of goods with which the country could most easily afford to dispense had been cut. The Abnormal Imports Orders of last winter appeared to have kept down imports by at least £8,000,000 directly, and £16,000,000 or £17,000,000 indirectly. In the West Riding of Yorkshire there was greater activity than for years past, the mills having ceased shorttime work, and many of them were working overtime.

There were signs of revival in some, although not all, branches of the cotton trade, said Mr. Runciman. The manufacture of electrical machinery was regaining its foreign market, as well as retaining its home customers. If the measure of activity of British trade was taken on exports alone, it would be found that Britain had suffered less from the world shrinkage than any other country. The decrease in the first quarter of this year

was about £11.000,000 below that of the first quarter of last year, but whereas our diminution had been 11 per cent., the United States shrinkage, taken over the whole three months, amounted to more than 35 per cent,, while German exports fell 21 per cent., French 33 per cent., and the Netherlands over 34 per cent. Unrivalled in World. British industries had adapted themselves to the needs of the present -time, and the workpeople had shown a tranquillity and determination unrivalled in the world. Britain might be accused of slipping off the gold standard and sacrificing the leadership of the financial world, but, ns Lord Revelstoke had said, while we had given up the leadership, nobody else had taken it up. From September, 1930, to March, 1931, the number in employment diminished by well over a quarter of a million. From the end of September, 1931. to the end of March, 1932, there had been an increase of nearly a quarter of a million in employment. This remarkable change showed that the country’s position had improved by no fewer than 486,000 people in employment. While every’ other country showed a heavy decrease, Britain alone showed an increase in the number of persons employed. Over 390 foreign manufacturers had

in the last nine months contemplated the establishment of factories in Britain, while 70 British manufacturing firms were extending their works or setting up new undertakings with the assistance of foreign experts, Mr. Runciman continued. In the last few months production had started in 43 of these factories, built by manufacturers of many various nationalities, and covering a wide range of industries. all of which were covered by the Importation Order of last winter. He thought he could prophesy that the same result would follow the very wide range of duties which had since been imposed. The iron and steel industry, coal, marine engineering, and shipbuilding showed no material signs of improvement. Their condition was causing the greatest anxiety, and there appeared no chance of a revival until there was a marked revival in the world’s trade. Imperial Sentiment. Referring to the Ottawa Conference, Mr. Runciman said that they would go there with a sentiment strongly in favour of Imperial action. Britain had advantages to give the Dominions, and they had advantages to give us. “The Government is already making considerable progress in sorting out industries in which benefits could be conferred with the greatest advantage, and the Dominions also, working on their own schedules, are examining the industries they think Britain can most help,” he said.

Any effort made to extend the trade of the Empire would not be on an exclusive basis in the' sense that it would shut Britain off from the rest of the world. Having made secure the position in Britain, the next stage was to extend traffic within the Empire, and the next to extend British trade along freer channels throughout the world.

ENDED” New Era of Prosperity MR. F. B. KELLOGG’S HOPES i (Rec. April 15, 7.50 p.m.) London, April 14. Mr. F. B. Kellogg, who arrived at Plymouth with Mr. H. L. Stimson, expressed a belief that the world depression had ended, and a new era of prosperity was gradually dawning in the United States. Business, however, must be placed ou an economic basis and expenses reduced in order to prevent high taxation.