BRITISH TRADE

Evening Post, Volume CII, Issue 35, 10 August 1921, Page 9

BRITISH TRADE

NEARLY 4,000,000 WORKERS IDLE

STWO GREAT NEEDS.

(PROII OVa OWN CORRESPONDENT.) LONDON, 21st June, Great Britain has not known blacker days for industry and commerce for many years. At the end of last week there were 2,147,400 work-people registered at labour exchanges as unemployed," No fewer than 2,003,882 unemployment books and out-of-work donation policies were lodged at the exchanges for that period, and, in addition, there were 1,117,661 workers in Great Britain on short time. Industrial disputes cause another mil- . lion and a half to be unemployed, giving this approximate total:— Pvegistered as unemployed 2,147,000 Mine workers unemployed 1,000,000 Cotton workers unemployed ... 600,000 Total unemployed 3,747,000 The other wage-adjustment questions affecting 1,500,000 engineers and 27,000 workers in the wool and allied trades are at present the subject of negotiation. Before the mining dispute began unemployment had been steadily mounting up week by week, but it was thought that the "peak" had nearly been reached, and that, a trade revival was in sight. EXTERNAL TRADE. How Britain's external trade is suffering under the withering blight of thtfcoal stoppage is strikingly shown.in the Board of Trade returns lor May.' \ For tho month the total shrinkage in the value of our exports is £80,000,000, or 48 jer cent., and is worse than in the previous month, when the- decline was £77,000,000, or about 46, per cent.. In the case of the exports, however, the 'position is far worse than a month ago, British exports showing a decline of £76,000,000, as compared with £46,000,000 last month, while the total shrinkage in exports is £89,000,----000, or 64 per cent, against £58,000,000, or 'At per cent, in the month of April. As might be supposed, one of the outstanding features in the total decline of oxports, as recorded above, is the collapse in exports of fuel. Indeed, it may be noted that out of the total fall in raw materials of £11,774,000, no less than £8,610,000 was under the head of coal, where the total value of shipments was £33,000, against £8,643,000 in the previous year. Not only so, but under the head < of imports appears an item of £1,533,000 for ooal, against nil in the corresponding month last year. In the case of our exports of manufactures, there was a shrinkage of ovei 61 per cent., of which nearly £29,000,000 was due to the depression, in the cotton industry, and nearly £9,000,000 to the falling off in activity in woollen and worsted manufactures. ' , Some idea of the extent of the trade depression arising not only from the present coal strike but from that of last" autumn may be gathered from the figures showing the movements in trade for the five. months of the *y ear. Theso show that for the first five months ; the total shrinkage in the value of imports was £380,000,000 and in exports £264,000,000. BETTER DAYS PREDICTED. In spitq of these depressing figures a trade revival is anticipated. Indeed, in the opinion of many business men \ and manufacturers the better days for trade would have already been with us but for the industrial upheaval caused by the coal dispute. In Lancashire and the Midlands earlier in the year (says The Times) there wa,a considerable confidence that the bottom of the period of depression had been touched, and that in the spring months a definite improvement .in the outlook would be forthcoming. Recent developments have suggested that this optimism was not without foundation, but with tho miners idle and the country largely denuded of fuel, there has been no opportunity for the developments to influence, trade and employment in an effective _ way. What was hoped for in the spring must', now be worked for in^sihe summer. A trade revival.an a big'scale may not bo possible until .-late, in the..year, and, must be de-,: pendent on cheap coal, reduced costs of' production,, and a firm undertaking on the part of the Government to lighten the burden of taxation. • But many industries should benefit very quickly from a desire which is being manifested to place new orders, and if' tbe anticipated revival is ot first partial, its effects would be cumulative and gradually lead to general activity and prosperity. TEXTILES AND LEATHER. It is probable,' if employers and operativos in the cotton and woollen industries can come to teima on the question of i wage reductions, that there will ibe a useful demand for textiles as soon as the mills can obtain fuel. Inquiries which have been made during the past few weeks suggest renewed willingness; to buy, both at home and abroad, provided that the price is right and delivery can be guaranteed. Leather . manufacturers report a'Steady demand for most classes, and especially for the best selections of sole and upper leather. , Satisfactory orders for summer goods aie/also being dealt with by boot manufacturers. The great fall in retail prices of footwear at the end of last year undoubtedly induced tho public to buy, and there have been substantial clearances of stocks. | There i will be plenty of work for a period in the potteries when tho kilns can be restarted. Even when the miners return to the pits two or three weeks may elapse before adequate supplies of coal can bo obtained, but as a result of the prolonged stoppage there is an accumulation of I small orders, and as some of the goods are urgently required, unemploymentshould rapidly diminish. ■ • i DEAR COAL AND HIGH TAXATION. In the heavy industries of the country, the outlook is less bright, owing to the severity of foreign competition. Before orders can tbe secured the works must be ablo to get coal at a reasonabl price. Coal is the essential factor in steel production, just as in the past it was, and in the future must again be the chief |iiational asset in promfiting commercial prosperity. Cheap coal could not only enable industry to recover its place in the world's markets, but would materially bring down'the cost of living. Dear coal and high taxation are regarded in many quarters as tho primary causes of the depression which fell on the country last year, and for this reason a reversion of policy in these two matters might do more than anything else to drive away the blight. •, '