EXPORT BAROMETER

Evening Star, Issue 23444, 8 December 1939, Page 7

EXPORT BAROMETER

BACK TO PEACE FIGURES STRIKING EVIDENCE OF WAD COMMAND (British Official Wireless.) RUGBY, December 7. (Received December 8, at noon.) Replying in the House of Commons to the debate on the Liberal amendment to - the Address-in-Reply to the King, the President of the Board of Trade, Mr Oliver Stanley, said: “The first month of war showed a very heavy fall in the value of our export trade—namely, something like 38 per cent. I cannot pretend that the fall was unexpected. Tho immediate effect of the outbreak of war is to destroy the conditions necessary for trade. From the mere impact of war upon our peacetime export trade British exports fell in the first month of the war of 1914 by 46 per cent. In the second month of the present war there was some improvement when our machinery began to work more smoothly, and some of the shipping difficulties were reduced. A comparison between October and September showed A rise from £23.1 millions to £24.6 MflUtns. or a rise of 7 per cent.” He could not give the final figures for November, but on the preliminary figures, which there was no reason to suppose would vary very much, there had been a major change in our export position. Whereas in October the rise over September was of the magnitude of 7 per cent., in November the rise over October was in the neighbourhood of 50 per cent. The result was that the level of exports for November was about back to the level of exports of the last months before the war began, “ In the last war,” said Mr Stanley, “it was not until the spring of 1916 that our exports got as close to the comparable months of the last year of peace time as we bad in November of this year.” Ho claimed that the facts he had given showed-that a very considerable export trade was now being done, and that this export trade could be and must be increased. Referring to trade restrictions, he said there were certain articles and raw materials so urgently required for the purpose of national defence that we could not afford to export them, or could only allow them to be exported in limited quantities. It was only by tbe system of export licenses that we could prevent valuable exports from this country reaching the enemy and so aiding them in their war efforts, . “ Though these restrictions are necessary, it has been and will be our constant effort to reduce them to a minimum, and to see that they operate as smoothly as possible.” Turning to the efforts at increasing the volume of expoide, he said: “ It is along the accustomed old channels that the great volume of our export trade is being done, and that the best possible hope lies of increase.” Referring to coal, which ho described as the most important and valuable of our wartime exports, he said that coal exports had expanded considerably since the war started. “ Over the large range of export trade to-day, markets are not the real difficulty. We have evidence from large varieties of traders that, not only are our inquiries up to peacetime level, but they are increasing.” RELAXATION OF RESTRICTIONS URGED. During tho debate on the Liberal amendment, moved by Mr Owen Evans, certain criticism was made against the falling-off of British exports, and doubts were expressed as to whether tho best use of the financial strength of the country was being made. Mr Evans urged that trade delegations should be despatched to neutral countries, Mr Shinwell, for Labour, supported the amendment, and-argued that the export restrictions should be relaxed.

SUPER GRADE PETROL ACTION B f AUSTRALIA \ CANBERRA, December 8. (Received December 8, at 12.50 p.m.) No more supplies of “ super ” grade petrol will be permitted to reach Australia as soon as the tankers now unloading this spirit or bringing it to Australia have been discharged, the Acting Minister of Supply, Sir Frederick Stewart, said. The prohibition of the use of the super grade would conserve tho Empire supply of aviation spirit. The prohibition would not apply to petrol imported for aviation purposes and tho embargo would not have the effect of reducing tho total quantity of petrol.

SOUTH AFRICAN WOOL BRITAIN’S PURCHASE PRETORIA, December 7. (Received December 8, at 11 a.m.) Britain has agreed to purchase most of South Africa’s wool clip at 10|d per lb.

EVAGUTED CHILDREN VISITED BY QUEEN (British Official Wireless.) RUGBY, December 7, (Received December 8, at 11.30 a.m.) Tho Queen, who was the guest last night of the Earl and Countess of Bessborough, to-day visited Susses villages in which children from London are now living. Her Majesty made an extended tour and visited several cottages,