British Trade Outlook Improves

Northern Advocate, 12 June 1939, Page 10

British Trade Outlook Improves

RUGBY, June 10,

The trade outlook was debated in the House of Commons yesterday when Mr Oliver Stanley, President of the Board of Trade, gave an encouraging account of its prospects.

The last few months, he said, have shown a very marked recovery, and the index of industrial production for the first quarter of this year had now practically reached the level of the first quarter of 1938. While giving full weight to the effect of the rearmament programme on recovery, one should not exaggerate it. There were a good many signs that the recovery was not so greatly due to rearmament expenditure as some people believed. British industry was still engaged in supplying normal requirements, and there was, as yet, no general dislocation of industry.

Speaking of what would happen when it was possible to reduce armaments expenditure, he said that if the reduction came as a result of a sudden dramatic stroke then that. very stroke would immensely increase confidence, and make possible a revival in international and internal trade. Reply To Germany. Mr Stanley said that when they heard propaganda that Britain was determined to encircle Germany, to beat her down .and defeat her at every turn, it was worth while remembering that he and Mr R. S. Hudson, Secretary for Overseas Trade, were on the point of going to Berlin to discuss methods of mutual improvement in trade, when the Germans themselves banged the door by their entry into Prague. In Germany there was an "entirely new economy. It was hoped that the Germans would see that it would lead to reduced standards of living, and would themselves abandon it. ,

Meanwhile Britain must try ko meet the problems presented. Referring to British and Rumanian trade negotiations, Mr Stanley said that there was no desire on Britain’s part to exclude Germany from natural markets which she Cnjoyed in the Balkans.

“What wo do say,” he added, “is that we are entitled to our fair share of trade there, and we are determined to maintain it. Only the restoration of confidence would allow our trade negotiations with Berlin to be resumed.”

PROFESSIONAL GOLF MATCHES. William Davis, of Dumfries, won the Scottish professional golf title at InI verness, aggi'egating 295 for four rounds.

D. J. Rees defeated J. Hargreaves &c the 37th hole in the final of the £750 professional golf tourney, says a London message. The winner produced a sensational recovery after being behind practically all the way. Hargreaves was three up at the 27th, and two up at the 33rd. Rees squared the match at the 36th. lIENNEBERRY IN LONDON. The Australian boxer, Fred Henneberry, has arrived in London. He is prepared to challenge any British, middleweight.