ON UPWARD GRADE

Gisborne Times, Volume LXXIII, Issue 11828, 9 January 1933, Page 5

ON UPWARD GRADE

BRITISH TRADE PASSED WORST PERIOD

MOTOR CAR PRODUCTION

SHOWS WONDERFUL' PROGRESS

AMERICA’S EXPORTS DECLINING

' fU.P.A. by Elee Tel. ciopyrigiit.} (Received Jan. 8, 6.30 p.rn.) LONDON, Jan. 7Newspaper’s continue to give hopeful, accounts of trade prospect's. The Daily Telegraph says there are unmistakeable signs that Britain’s industries have passed the worst period |in an unparalleled world depressoii, and thei’e is a tendency throughout the country towards trade improvement. The big drop of 76,519 in unemployment figui-es i s a reassuring Sign.

The Daily Telegraph’s industrial correspondent says that the general view i's that recovery is certain, tut it may be slow. The Daily Telegraph’s motoring correspondent describes the healthy position of the motor car industry, compared with the United States, for while the United States and Canada produced last year I,ooo=ooo fewer cars than in. 1931 and 42,000,000 fewer than the boom year of 1929, British production was higher in 1932 than in. 1931, and was within reach of the 1929 figures Britain’s export statistics are most heartening. During the nine months to September 30, 1932, the exports of British cars were 50 per cent better than for the corresponding period of 1931, whereas Amcx 'ca s exports declined by 30 per cent;

PROSPERITY SIGN

GROWING FAITH IN RETURN OF

BETTER TIMES

OPTIMISTIC SURVEY

“Investors and speculators, traders and statesmen would all at any time barter the shirts on their backs to known within what period trade xenv al could bo looked for. And at present that- knowledge is more important than ever before,” says the I liiancial News” in an optimistic survey of the economic outlook. “There lias never been a time when 1 so many in extremis remedies—exchange clearing, quotas, public works, inflation, and so forth—have been on the political carpet and, as few tene people would tolerate any ot them if they thought that trade revival lay along the road, spotting the corner is of paramount importance.

ON BURNING BOATS

“Boat-burning is a fools game if one has not carefully determined that the place whence one has come is not fit to live in. Naturally, the superficial indications are thaw tbe slump lias been stayed. Putting tlie matter at its crudest, it lias gone on a pretcrnaturally long time, and. since a recovery in prices of commodities and securities has now been maintained for over four months, we have a right to expect to see something.

“The reign of cheap money, short and long, has been firmly established, and war-debt spectre lias been laid to the satisfaction of most people. and altogether the stage seems reasonably well prepared. In B.ritisn industry, the most convincing signs of at toast a temporary recovery have been seen during the last month, or

“The decline of over 100.000 in unemployment during October remains incontrovertible evidence of non-sea sonal revival during October, whatever may happen afterward. The Octtober foreign trade returns, although we must view them in the light of the worst months on record, reflected a very remarkable upturn, and, even ns compared with the previous two or three months, suggested an expansion of trade in a more than seasonal degree. “Provincial bank clearings have been progressively improving, and, even though there was a slight setback last month, this was more than accounted for by a shortage of one working day, as comparer! with the previous year. The borne railway 7 traffic, though far from inspiringhave latterly indicated at least an improvement in the trend. This is particularly noticeable in the receipts from 'general merchandise’. GOOD SIGNS. TOO. ABROAD. ■•Jn America, sales of rayon, clothing, and canned foods have improved;; here, there has been some advance in electrical goods, furniture, clothing woollens, machinery, and chemicals, and.the October increase in our imports of non-ferrous metals, wood, leather, pig-iron, flax, hemp, and jute-' i s a good sign as far as it goes. New financial difficulties are not recurring, though the fruits of the old may still be all too much with us. “The Continent is less uneasy than it was, a,nd no one can fail to have observed the remarkable steadying of feeling in Germany 7. It is now ccitanly easier to take a hopeful view than it was three months ago. But we find it easier now, if anything, to feel confidence in the view which we suggested early in August might be reasonable—that a turn in the trend ought to become perceptible by the year-end and that signs of a decisive upturn may be looked for in the spring. : , , “In this connection it must not be overlooked that iff America there is a substantial seasonal recession, in the winter months., and that it is in the spring, with its large seasonal bus mess expansion, that a definite recovery 'is most likely to come about ■