PROUD RECORD

Manawatu Standard, Volume LVI, Issue 202, 16 July 1936, Page 7

PROUD RECORD

GREAT BRITAIN’S TRADE, 11EMARKABLE DEVELOPMENT. TANGIBLE EVIDENCE. (United Press Association—By Electric Telegraph.—Copyright.) ■ (British Official Wireless.) Recoived July 16. 10.58 a.m. ' RUGBY, July 15. Speaking on the Board of Trade vote in the House of Commons, Mr W. Runciman (President of the Board of Trade) declared that Britain's commercial policy remained unchanged. It was founded on equality of opportunity for all nations and was qualified only by the duty of others to play their part in tlie same general scheme.

Only by the removal of the artificial restrictions which hampered multilateral and international trade could there be any hope of restoring the turnover of overseas trade which Britain enjoyed before the crisis of 1931, said Mr 11 unci mail. The policy of developing overseas markets by trade agreements was being steadily pursued, but it seemed probable that for some time to come the hopes of British exporters would have to be concentrated mainly on continued' expansion of trade within the Empire and other countries of the sterling area. Nevertheless, looking at the whole world, there were certain encouraging features. If there were no further major developments of. a disturbing character abroad, and assuming the continuance of industrial peace at home, there was every reason to hope that the progress of the past three or four years would continue. MARKED PROGRESS, lie gave a survey of what lie described as another year of marked progress in all the principal industries of the United Kingdom, with the exception of coal aim cotton. Progress had been remarkably good in all the industries supplying home markets. It had been slower in the export trade.

Jn spite of competition from road transport, railway receipts were about L 1,830,000 higher in tlie first si;x months of this year than in the corresponding period of 1935 and the pooled receipts from freight traffic accounted for nearly the whole of tlie inci ease. In the same period postal receipts bad increased by nearly 4 per cent., and bank clearances by by nearly 7 per cent. Retail sales, 'which reflected conditions over tlie whole country, were 6 per cent, more in 1935 than the previous year, and the expansion had aontinued this year. Sales in tlie first five months of 1936 were about 74 per cent, more in value than in 1935'. Industrial production last year was about 7 per cent, greater than in 1934 for both the export and tlie home ma:ket, and in the first quarter of this year there was-an increase of 9 per cent, over tlie first quarter of last year.

At the end of June the tonnage of me. chant vessels under construction was 850,000 gross tons, as compared with 560,000 gross tons a year ago. Reviewing the main industries, Mr Runciman stated that engineering showed a continued improvement and in some branches—machine tools for instance—the demand had overtaken the supply. In the electrical industry an all-iound improvement had been continued since 1935. The activity in the other industries was reflected in tlie bigger demand for electrical material, heavy and light. ’ The motor industry had continued its prosperous career ; from October to April the production of private cars and chassis had increased by over 11 per cent., and commercial vehicles by 10. per cent, as compared with the corresponding period a year earlier. EXPORTS OF RAYON.

Artificial silk was a young industry which had shown a remarkably rapid development, said Mr Rumanian. The United Kingdom was now the third largest producer of rayon yarn and held second place as exporter of rayon piece goods. Lancashire manufacturers, in particular, had; been ready to seize upon the possibilities of using rayon yarn for new fabrics, the demand for which would make good some portion of the losses in the trade in cotton fabrics.

He proceeded to analyse the figures of overseas trade in the first half-year, published yesterday. He said the comparison between the first six months of 1935 and 1936 showed that, although the export trade had not gone up with the same rapidity as in recent years, it was still increasing. From January to Juno, 1935, the total exports were valued at £206,500,000, and in the corresponding period of this year the figures had risen to £207.900.000. Imports liad gone up to an even greater degree. Imports of food, drink and tobacco showed an increase from £166.000,000 to £179;000,000; ot raw materials and articles, mainly unmanufactured, from £103,000.000 to £119.000.000 and of articles wholly or mainly manufactured from £88,000,000 to very nearly £101,000,000. AIOTOLI INDUSTRY. FILLIP AT HOME. (British Official Wireless.) RUGBY, July 14. An official record of the sales of new cars for Alay issued bv the Ministry of Transport reflects British prosper ity in general and that of the motor industry in particular. The number- of private cars registered for the first time in Alay was higher than in any previous May, and 20.6 per cent higher than in Alay of last year. The total of all motor vehicles registered for the first time was 28.4 per cent higher. Alotor taxation receipts for the six months ended Alay 31 were £25,134,052, compared with .£23,633,830 for the corresponding period last year.