Our Trade With Britain

Manawatu Times, Volume 60, Issue 176, 29 July 1935, Page 6

Our Trade With Britain

Of all the nations of the world probably none allows sentiment to influence its trade sc strongly as Now Zealand. Our affection and regard for the Homeland is probably unparalleled. Despite this strong sentiment in favour of trading with Britain whenever possible certain persons are forever telling us that we are an ungrateful people; that we do not show sufficient regard for the Motherland. Such statements are distinctly unfair, as is proved by the true measure of our trade relationship with Britain.

The frequently quoted returns of our trade with Britain ignore two important factors. These are the re-exports of our produce from Britain and the service of our debts to Britain. Returns for the year ending March 31 last show that of our exports nominally made to Britain some £8,000,000 worth (New Zealand currency) were re-shipped to the Continent. Our export returns show shipments to Britain as being £37,879,000. Deducting re-exports from Britain, her purchases from us actually amounted to £29,879,000

Wc therefore had a credit in Britain for that sum. The British bondholders had first claim upon this for the service of their loans. Their annual claim is estimated at £12,500.000. After payment of this interest account we had left a spendable balance of £17,379,000. Our imports from Britain amounted .to £16,437,000, which left us a balance of £942,000. By that sum only, did our trade with Britain fail to balance.

The Italian Public Works Ministry will give £200,000 for the erection of a public dormitory at Naples owing to the increasing need of jjoor families for night shelters.

A giant arum lily, Bft. higji and Sift, across, is in the hothouse of the Agricultural High School, at Wageningen, Holland. It is growing from a root that weighs 6st. 41b.