BRITAIN'S RECOVERY

King Country Chronicle, Volume XXVII, Issue 4473, 21 November 1933, Page 8

BRITAIN'S RECOVERY

CONCERN OVER AMERICA. DANGER OF NEW CRASH. London, October 24. Though belief in the permanence of Britain's recovery remains unshaken, thus sustaining the stock market, the American situation is causing Uneasiness, 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 Australian and New Zealand beef, mutton, and lamb having been exceeded by 222y 2 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 Australian and New Zealand quotations, while the bigger London operators are seeking Empire eggs owing to the advance in Danish quotations following increased German orders. The Yorkshire Observer, in emphasising the strength of the demand for all classes of wool, says that spinners who expected a decline will be disappointed.