OUR BRITISH MARKET

Evening Post, Volume 65, Issue 65, 17 March 1924, Page 6

OUR BRITISH MARKET

We have emphasised many times that in buying British goods New Zealand is only returning British custom and is not even making a, full return. But the facts concerning this trade were stated so clearly and concisely by Mr. Noel Elmslic, British Trade Commissioner, in an address last week that it is worth while directing attention to his statement. "Of all the countries New Zealand trades with/ said Mr. Elmslie, "there is only one trading in her favour; that is Great Britain. In every other country she trades with they sell more to New Zealand than they buy from her." These are facts fully supported by trade statistics. The United Kingdom last year took New Zealand exports to the value of £37,324,607 and sold us goods valued at £24,046,070. With all other countries with which a trade in millions was done the balance was much against us. Canada bought £665,676 and sold £2,926,917; Australia bought £2,641,970 and . sold £4,253,547; the Dutch East Indies bought £894 and sold £1,121,970; and the United " States took £3,531,272 and sold £6,722,839. In commenting upon these facts of trade, Mr. Elmslic'said if New Zeahind bought largely from Britain it would strengthen the buying power of the British markets, help decrease Britain's taxation, lower manufacturing costs, raise the price of goods New Zealand sold, and reduce the price of the goods bought. This applied only to trade with Groat Britain. We are not prepared to say that some of- these results would nut Ijo achieved l>y tiitdc with 01-hci1 yuimlries; but w e fully agree tiwt no oilier avenue

of trade offers such splendid prospects of reciprocal.benefit. Jf we buy more from America, for example, we benefit America ; and we increase America's capacity to buy —from other countries. We are glad to hear Mr. Elmslie's testimony that sentiment does influence New Zealand buying orders, though we ourselves should not applaud our righteousness in this respect until we have balanced the many debts we owe to Britain —naval defence, for example. But putting sentiment aside for the moment, there is this solid, selfinterested business argument for buying more British goods: that Britain already spends more than we pay her in buying our produce, and if we increase her buying capacity she will buy more from us. It is a trading principle which no business man forgets— to put business in the way of his best customers—and- it is also a sound national trading principle.