EMPIRE TRADE

Evening Post, Volume CVI, Issue 65, 14 September 1923, Page 7

EMPIRE TRADE

FALLING OFF SINCE 1913

SOME OF THE PROBLEMS

BRITISH INDUSTRIES AND ECONOMIC CONFERENCE-

The first interim report of the Federated British Industries to the Imperial Government has been presented. It-it prepared primarily to express the views of British manufacturers on Inter-Im-perial trade in order that through the Government they may reach the Imperial Economic Conference. A copy o£ the report has been received in Wei-, lington, and has been made available for "The Post." The federation, at tho outset, records its opinion thr,t "the fullest _ possible development of Inter-Im-perial trade is essential in the interests of the Empire as a whole for economic, political, and social reasons. It believes that this problem should be approached not merely from the point of view of the advantages likely to accrue to Great Britain, but from the point of view of mv* taal advantage to all parts of the Empire, and they afe convinced that the' greater prosperity of the Empire as a whole the greater must be the advantage of every section of it." It is stated in the report that th«re is a tendency in certain quarters to adopt the attitude that the economic difficulties by Great Britain will be entirely' solved by a rapid and considerable development of its trade with the Empire and that in the Empire markets would be found the means of restoring tha trade lost.with other parts of the world. But of the total export trade for the whole world the present percentage is now 68.9 of the pre-war total. ihe total of exports to the Empire '--is' now 70 per cent, of their pre-war total--'----and the total of exports to allforetort countries is 68.2 per cent, of the prewar total. Put ■in another way, the British, export trade, as compared with 1913, is down:

Tii*. er cent. Total Export 31 1 Exports to Empire ..." 30.0 Export to For*eign Countries'.. v 31.8 Incidentally, it may be mentioned that exports from the United Kingdomto New Zealand are 72:9 per cent of' what they were in 1913, a loss'of 27 1 per. cent, . ■..'-..

The Imperial Economic Conference is welcomed for the reason that it will be able to discuss certain broad questions' of principle* which will tend to facilitate Inter-Imperial trade; and the 'federa|tion trusts, also, that the Conference will deal with many apparently minor points of detail, which at the moment place a hindrance in the way of free commerce between the different parts of the Empire-and here the hope is expressed that these points of detail should b« dealt Wl th by subsidiary conferences, at. meetings held at least once a y»ar SSj^ general Economic Conference should be free to discnss the broad questions of principle which may arise. A permanent secretariat is also suggested, representative of both the Mothe* Countty and tie Dominions charged with th» following up of results of one Conference and preparing for the next. mclenoß

Develop resources. .-::". The federation i» satisfied that if 3rf. tish trade within the Empire was to £• increased,-then the resource* of the varied* ft °f tte -Etopih>■»«* be • J* we maximum, and that British sfettlers and British'capital aid a full '.participation in British enterprise a™ .essential in the development 7 he Em!

Whde it v recognised that it is desirtMUT S l he Prodnction of raw maWmlß should be encouraged to the iitmoat. Great Britain oould not expect ill. Domimon* to limit their develapment to th»t field of commercial activity, for' maay of them were determined to be, come manufacturing countries to the utmost limit of their, possibilities XhS ■ »nnH ?*£% Jt- na] Ural ■** inevitable; ■ and United Kingdom interests should b. prepared so far as possible to help the Dominions vi the development of their industrial as well as their raw material undertaking, by the provision oi^apital »nd experience. It was pointed out in A? *$?U £" U, Wail P^^We thai «us should be so, for in the case of Can* fi»* -Si E kr C! nt> of the ind«stries were, financed by American capital, even in the event of large industrial develop, nwnte m 80me of the Dominions, thi« would increase their prosperity and theii purchasing power and eventually it was. m^h^. h°Pe that the exporter; from Great Britain would benefit by this increased prosperity, although the The development of the resources of the Empire however, leads to the queat^S* '* 0W mark«ts are to be foun« SlS* ?"*%!?* P">du<=K°i which £ TfV at t TIU? Was lar«ely contingent, on the restoration of normal conditions in other parts of the world that had W the past been large purchasers of, thai: Dominions exports; but '.'until Europe! has made «,me progress towards irecbv*' cry, the volume of Inter-Imperial traded cannot be expected to grow as rapfdl* as we should desire."- " -» *; PBEFERENOE PEINCIPLE; 't \ On the principle of preference, th« federation admits that it cannot put forward a unanimous opinion on the tub* ject; but it is at one in the idea that; the United Kingdom should endeavour, to buy as largely, aa possible from tha -Uomimoas and colonies, since if thit! country wishes to increase its exports to! the Empire it must also be prepared to'" buy more largely from it." ' The; report deals with migration, anti-Y dumping, legislation in Australia an* New Zealand; various Customs formali-T ties, and valuation's for duties; raw ma- 1 terialß and their development and in-cx-eaaed 1 output in the Dominions: Qov. emment tendfers for supplies (urginß.' wherever possible, that all supplies need!' ed by the Government should be draws' from within the Empire) the Dominions' 1 Uoyernments reciprocating by drawiii* 1 their requirements, as far as possible.' from the United Kingdom. • Considerable space is devoted in tbV report to telegraphic and posUl commu-; mcations. Stress is laid upon the -development of a system of thoroughly up v to-date intelligence. It is also suggested that such status as will enable them to I act in certain circumstances as spokes-j men for the British Government shall be •'■ given to British Trade Commissioner*' Overseas. ■ The_ federation is to present reports on Imperial ocean services, and other subjects affecting Inter-Empire trade at s later date, but in time for going before the Economic Conference.