OVERSEAS MARKETS.

Horowhenua Chronicle, 16 July 1925, Page 3

OVERSEAS MARKETS.

« —^— VALUE. OF PREFERENCES. NEW ZEALAND MOST WILLING CUSTOMER. (Received Wednesday, 7 p.xn.) LONDON, July 14. Earl Balfour’s committee on industry and trade (set up in July of last year), in surveying oversea markets for British exports, points out that though Britain is retainiing her . share of world trade, a great reduction in this means a substantial reduction in the actual volumn of British trade which is due to the decline of the purchasing power of local populations and the growth l of local manufactures, as well as the displacement of British imports by those of other countries. The decline in the purchasing power, however, is a factor of decreasing importance, whereas tt i growth of local manufacture is mos: important. Thus, great efforts should be made to develop industries in Australia, particularly woollens. The growth of local manufactures was being assisted by import restrictions and subsides but the increase m tariffs since 1917 had not thus far been an important factor in retarding the recovery of British trade. The report says the average incidence of Empire tariffs on British goods is still lower than on foreign, the proportion being ten to seventeen. Only Soviet Russia has State control, which has materially affected British trade, but the development of Stateowned commercial shipping which claims immunity from fiscal and other obligations falling upon other traders, is an unfair form of discrimination and should be abolished. Generally, British trade is treated at least as favourably in. foreign markets as any exporting country. In all the selfgoverning Dominions British exports enjoy a substantial preference, which has been increased materially since the • war. The preferential advantage is now nine per cent, ad valorem, Instead of four per cent. The Increase in preference in the case of Australia and New Zealand is at least eight to eight and a-half per cent.; Canada has accorded an increase of 2 J per cent. The- percentage of British exports consigned to Dominions which were given preference l has risen from twenty-three to twen-ty-six per cent, of the total value of the British export trade. The world is still poorer from the wastage of ■ war, but no doubt a recovery is taking jjjace. It- must be hoped the restrictions upon commercial intercourse will be mitigated by international agreement. ' , The review of New .Zealand trade occupies fourteen pages and says New Zealand imports per head are the highest in the world, amounting to£33 per inhabitant. The New Zealand Government has adopted a most definite policy in favour of British goods 'and sentiment in favour of British products was exceedingly strong, ln .no other country in the world do British manufacturers find a more favourable market. It is advisable for British manufacturers to send representatives to study ■ local requirements of th e Dominions. Thus far the Americans have been more active than the British in this respect. The “Daily Telegraph” commends the • Balfour committee’s report for detachment from current controversies and dealing with the situation in a scientific spirit. Apparently Britain must anticipate increasing difficulty in selling her goods on the old-estab-lished markets, while even in the home markets, competition will be keener than pre-war. A “Telegraph” editorial stresses -the value of Dominion’s preferences. ANGLO-GERMAN TREATY. PARLIAMENTARY SNAGS. (Received Wednesday, 7.15 p.m.) BERLIN. July 14. The Government encountered Parliamentary snags over the ratification of the commercial treaty, which was referred to a committee, wherein the German Nationalists demanded an exhaustive report on British Imperial preferences. The committee also recommends the Government to negotiate with Britain with a view to extending the agreement to the ex-German colonies.