TRADE REVISION

Nelson Evening Mail, Volume LXXIII, 18 November 1940, Page 5

TRADE REVISION

EXPECTED MOVES CONCERTED EMPIRE EFFORT EFFECTS OF BRITISH WAR POLICT [U.P.A.—By Electric Telegraph-Copyright] LONDON, 16th November. The City has interpreted the statemenst on trade policy by the President of the Board of Trade, CaptainLytelton, and the economic adviser, Lord Stampas foreshadowing a concerted Empire effort to curtail the production of goods which do not contribute directly to the war effort. ! While there is no suggestion of pres- | sure on the Dominions to change their I import policy, it is believed that the United Kingdom will influence the naj ture of intra-Empire trade through

the allocation of raw materials. It i* stated that one financial effect will be a further accumulation of the Dominions’ credits for the United Kingdom. A secondary effect may be a diversion of interest from the equities of Dominion j companies producing unessential goods.

In a statement on Thursday Cap tain Lyttelton confirmed that restrictions will be imposed on intra-Empire trade. He said that war production could be increased only at the expense of civilian consumption.

It was forecast in London that it would be suggested to the Dominions that they could greatly contribute to the joint war effort if they decided to impose restrictions on civilian consumption similar to those imposed in the Unted Kngdom.

Lord Stamp, a member of the Economic Advisory Council, in a speech appealed to the Dominions to help the Empire to tighten its belt. “Tightening of the belt applies to the consumption of new food, recreations, and new clothing,” he said. “Our requirements from the United States are so huge and the need for dollars so great that the necessity to avoid using dollar* wherever possible is immense.” SELF-DENIAL FOR VICTORY HOME TRADE LIMITATIONS LONDON, 15th November. Self-denial in purchases of all articles for home consumption is a direct contribution to the war and will directly shorten it, said Captain Lyttelton, President of the Board of Trade, in explaining the new home trade limitations. The new order will increase the home trade quotas in certain products of a certain character, and there will be an increase in the case of obvious luxuries. It is not thought that there will be an increase in prices of more than 10 or 15 per cent. Captain Lyttelton said it was important to realise that there is no shortage of consumer goods, and one of the objects of the new order is to conserve stocks and make them last as long as they can in order that the effort which would be devoted toward their replacement may be released for the direct production of munitions. MORE SEVERE RESTRICTIONS LONDON, 16th November. Captain Lyttelton, in a broadcast, said: “After nine months of war the Board of Trade enforced the first restriction on the sale of a great number of personal household things. This has not been enough, and therefore the Board of Trade has now announced more severe restrictions. “In the last war one munitions worker supplied twc fighting men with weapons and equipment; now, because of the development of the air arm, the greater fire power and mobility required by the modern army and the vast number of auxiliary craft required at sea, it takes two workers to supply two fighting men. That is why we must tighten our belts. “I want your view to be realistic and not alarmist In spite of the restrictions we are providing more than double the German standard of comfort.”