BRITAIN’S RECOVERY

Hawke's Bay Tribune, Volume XXIII, Issue 275, 3 November 1933, Page 12

BRITAIN’S RECOVERY

Belief Unshaken Though belief in the permanence of Britain’s recovery remains unshaken, thus sustaining the stock market, the American situation is causing uneasiness in England, as it is recognised that the failure of the N.R.A. would mean a Wall Street crash, involving a general slump in world prices of commodities. The effect of Australia’s lead in wheat restriction has been nullified by continued reports that America intends to subsidise exports of wheat to the Orient, thus competing with Australian supplies, and diverting them to the European markets, especially Britain. The Empire Industries Federation declares that the Ottawa policy quantitatively restricting Empire meat supplies has failed, the Government’s estimates of British imports of Australasian beef, mutton and lamb having been exceeded by 2J per cent. The success of the Australian official publicity drive against Danish butter in the north of England is revealed in the sudden rise in Australasian quotations, while the bigger London operators uro seeking Empire eggs owing to the advance in Danish quotations folloving increased Gorman orders. The “Yorkshire Observer,’’ in emphasising the strength of the. demand for all classes of wool, says that spintiers who expected a decline will be disappointed.