BOARD OF TRADE RETURNS

Northern Advocate, 13 July 1925, Page 5

BOARD OF TRADE RETURNS

EXPORTS DECLINE. OTHER SECTIONS INCREASE. (Received 10.30 a.m.) lA)NDON, July 12. The Board of Trade returns for Jrne show that the value of imports ir.to Britain increased by £23,425/141. Exports decreased by £3,131,048 and re-exports increased by £570/388.

The principal increases in imports were:—Meat, £2,078,294; non-dutiable food, £252,339; raw wool, £1,405,073; rubber, £1,178,858; silk manufactures, £4,069,431; vehicles, £2,166,261; textile manufactures, £1,638,944; apparel, £1,382,085.

The chief decrease in .imports was raw cotton, £1,258,585. main decreases in exports were:—-Coal, £1,959,524; iron and steel manufactures, £1.074,335; woollen manufactures, £1,0.30,892.

Lead imports into Britain during June totalled 1;},4U0 tons, including 7918 from Australia, and exports amounted to 2278 tons. —A. and N.Z.

"SOVEREIGN ON STILTS."

LLOYD GEORGE METAPHOR. (Received 1.5 p.m.) LONDON, July 12. Mr. Lloyd George, in a speech at Wisbech, referred to the trade balance. Britain for the first time w?is trading at a loss. It was a new and bleak record in the history of British trade. The Government's premature and precipitate restoration of the goM standard had had a disastrous effect

on trade. It made sterling dearer and thereby increased the price • of British goods. This ill-conditioned action was taken {igainst the advice of traders. Mr. Churchill had put the sovereign on stilts in order to raise it. —Sun. RUSH TO ESCAPE DUTY,

LOSS TO THE EXCHEQUER

(Received 2 p.m.)

LONDON, July 12,

The "Daily Chronicle" states that the June imports of motor cars, watches, clocks, flfineraa films and musical instruments were rushed in to avoid the re-imposition of the McKenna duties on July 1. The total equalled four ordinary months' imports, and these, together with silks similarly dumped to avoid Mr Churchill's new duty, caused a loss to the Exchequer estimated at one million sterling, which will cause the disappearance of the estimated revenue surplus for the financial year.— A. and N.Z.