TOWARDS RECOVERY

Nelson Evening Mail, Volume LXX, 18 December 1936, Page 2

TOWARDS RECOVERY

BRITAIN’S PROGRESS REVIEWED KEEPING THE “OPEN DOOR” (British Official Wireless) RUGBY, 17th December. The President of the Board of Trade, Mr W. Runciman, in a speech at Liverpool reviewed Britain’s progress towards recovery. Employment, which was the great test of prosperity, had in five years increased by nearly 20 per cent., and industrial production by 40 per cent. The period had been one of continual expansion in British trade, while the trade of the rest of the world had been shrinking. There was little doubt that the purchasing capacity of the British working classes was greater than at any time in history. That was due not only to the activity of internal trade, but also to the fact that long before the Great War and the great depression which followed the war, - a social system had been built up which spread out the purchasing capacity in wider and ever widening circles to the workmen and their families.

Imports into this country per head of population were about 2& times those of France, three times those of Germany, and five times those of the United States. The volume of exports of United Kingdom goods dur-. ing the first nine months of this year was 20 per cent, greater than in. the corresponding period of 1931. ' For manufactured articles the increase was 25 per cent., and nearly every group showed an increase. The excess of exports over imports of manufactured goods increased from £45,000,000 for January to October 1931, to £119,000,000 from January to October of this year. The real explanation of these facts was that in the last five years the Government had been doing what it could to keep the “open door” and to lower the general level of world barriers.

PRELIMINARY TRADE DISCUSSIONS

(British Official Wireless)

RUGBY, 17th December.

The Dominions Secretary stated in the House of Commons in answer to a question, that discussions on trade between the United Kingdom and New Zealand are taking place with Mr Nash, the New Zealand Minister of Finance, but they have so far been of a preliminary nature and it would be premature to make a statement. )

Another Board of Trade reply on the trade negotiations mentioned Canada and India as the only two countries with which commercial negotiations were in progress.