BRITISH TRADE.

Manawatu Standard, Volume LII, Issue 6, 7 December 1931, Page 7

BRITISH TRADE.

ADVERSE BALANCE

EFFECT ON CURRENCY STABILISATION.

LONDON, Dec. 5

“I am speaking in a position unprecedented for many years, when I am unable to deliver the goods myself,’ said Mr Stanley Baldwin at Aberdeen. “As a member of the National Government. I can only say that I hope I may be able to do so. “It is not so easy for men who hitherto have been antagonistic on many subjects to reach a common agreement. It is like a team of international football stars having to learn team-work, but we are going to make the team able to play any team in the country.” Mr Baldwin pointed out that the exact figures of the adverse trade balance were not known, but it was probably £100,000,000 a year. Until this was rectified stabilisation of the currency would be impossible, but the internal value of the pound was steady, for which we had to thank the balancing of the Budget and the confidence of our own people and the worid in the Government’s honesty and good faith. Mr Baldwin added: “I am convinced that there is no reason for anxiety over the sterling’s drop abroad, which is due to seasonal reasons, also the payment of unusual amounts for imports, with which the Government is deeding.” EFFECT OF WHEAT QUOTA. Mr Stanley Bruoe, former Prime Minister of Australia, addressing the Cripplegate Ward Club, said it was difficult to foresee the effect of the Empire wheat quota. It was much more significant that the British market was increasing the opportunities for Empire trade. This would amazingly affect public opinion in Canada and to a less degree in Australia. The Dominions, but not England until the last elections realised the importance of inter-imperial trade, but it was a job for captains of finance .and industry', not politicians. Australia had a great future if she increased her production instead of maintaining a trade balance by merely preventing imports. MR RUNCIMAN’S SPEECH. FRENCH NEWSPAPERS’ CRITICISM. PARIS, Dec. 5. Most of the newspapers are incensed at Mr W. Runciman’s outspoken speech in the House of Commons. They are generally of the opinion that he has compromised the success of the trade negotiations between France and Britain,' and even question whether it is worth while sending a delegation. AGRICULTURAL POLICY. GOVERNMENT ANNOUNCEMENT THIS WEEK. (British Official Wireless.) Received December 7, 10.45 a.m. RUGBY, Dec. 5. A further discussion of the measures contemplated to meet the economic situation will ..commence in the House of Commons next week before the House rises for the Christmas recess on Friday. The Government will make a definite announcement on the agricultural policy which, it is anticipated, will include the acceptance not only of the principle of a quota for home-grown wheat, but also a quota for wheat imported from the Dominions used by British millers. This will leave the way clear for discussions regarding details with the Dominions before the Imperial Economic Conference at Ottawa in July.