UNIQUE RECUPERATION

Northern Advocate, 16 April 1932, Page 11

UNIQUE RECUPERATION

INDUSTRY AND COMMERCE BRITAIN LEADS THE WORLD. IMPRESSIVE COMPARISONS. (British Official ’Wireless.) (Received 1 p.rn.) RUGBY, April 14. Encouraging results of the recent surveys of British industry were reviewed by Mr. Walter Runciman, President of the Board of Trade, during a debate in the House of Commons.

He said that Britain was the most highly organised industrial country in Europe, with commercial activities which were still the greatest in the world. Britain’s trade with Europe represented, until recently, nearly one third of her foreign trade, but there had been -a great shrinkage in the European traffic. Britain would have suffered much more but for the action taken since; last August. The importation of j large quantities of goods with which 1 the country could most easily afford [ to dispense had been cut. The Abnor- 1 mal Imports Act orders last winter! appeared to have kept down the imports by at least £8,000,000 directly ■ and.. £16,000,000 or £17,000,000, indirectly. j In the West Riding of Yorkshire! there was greater activity than for ( years past. Mills had ceased short ( time work, many of them were work- ' ing overtime. There were signs of, revival in some, although not all, ( branches of the cotton trade. The I manufacture of electrical machinery ( was regaining the foreign market as well as retaining the home customers. If the measure of activity of British trade was taken on export alone, it would be found that Britain had suffered less from the world’s shrinkage thari any country. The decrease j in the first quarter of this year was about £11,000,000 below that of the first quarter of last year. Whereas our diminution has been eleven per cent., the United States shrinkage taken over the whole three months amounted to more than 35 per cent, the German fell 21 per cent., the . French*33 per cent, and the Nether- . lands was over 34 per cent.

Highly Adaptable. British industries had adapted themselves to the need of the present time and the workpeople had shown a tranquillity, and determination unrivalled in the world. Britain might be accused of slipping off the gold standard and sacrificing her leadership in the financial world, but as Lord Revelstoke said, while we have given up the leadership nobody else has taken it. From September, 1930; to March, 1931, the number of. employed had diminsihed by well over 250,000. From the end of September, 1931, to the end March, 1932, there .was an increase of nearly 250,000 in employment. This remarkable change showed--.that the country’s position had improved by no less than 486,000 in employment. EyCry. other country a heavy decrease.

Over 390 foreign manufacturers had, in the last nine months, contemplated the, establishment of factories in Britain, while 70 British manufacturing firms were extending their work or setting up new undertakings with the assistance of foreign experts. In the last few months production had started in 43 of these factories built by manufacturers of many various nationalities, and' comprised a wide range of industries, all of which were covered by the importation orders of last winter. The iron and steel industry, coal, marine engineering, and ship-building showed no material Sign of improvement. Their condition was causing the greatest anxiety, and there appeared to be no chance of revival until there was a marked recovery in the world's trade.

Ottawa Congress. Referring to the Ottawa Conference, Mr. Runciman said they would go there with a sentiment strongly in favour of Imperial- action. Britain had advantages to give the Dominions, and they had advantages to v give Britain. The Government was already making considerable progress in sorting out the industries .in which benefits could be conferred with the greatest advantage, and the Dominions were also working on their own schedule and examining their industries. They think that Britain can give most help. Any effort made to extend the trade of the Empire must not be on an exclusive basis in the sense that it should shut Britain off from the rest of the world. Having made a secure position, in Britain, the next stage was to extend traffic within the Empire and the next to extend British trade along freer channels throughout the world.