WORLD TRADE

New Zealand Herald, Volume LXXI, Issue 21919, 1 October 1934, Page 9

WORLD TRADE

DECLINE SLACKENS BEGINNING OF RECOVERY PRODUCTION INCREASING LEAGUE OF NATIONS SURVEY By Telegraph—Press Association—Copyright (Received September 30, 5.5 p.m.) British Wireless RUGBY, Sept. 29 Evidence that not only has the decline in world trade slackened, but that recovery has begun, is produced in the League of Nations' world economic survey for the year ended July 31 last. A notable feature is the marked recovery of production during recent months. In 1933 the output of raw materials rose 9 per cent, and industrial products 12£ per cent, compared with the previous year. World trade, measured in terms of gold, declined for four years, as the result of heavily-falling prices, and until last year there was a reduction in the volume of goods exchanged. During the second half of 1933 a slight increase in world trade occurred, notably in certain areas, and in certain commodities, including some important raw materials. BRITAIN IN LEAD PEOPLE SPENDING MORE WORKERS' HIGHER WAGES (Received September 30. 7.5 p.m.) LONDON, Sept. 29 "Britain is the most prosperous country in the world," declares a special correspondent of the Weekly Dispatch, who has just visited Europe and America. The writer says the people of Britain are spending more money and workers and investors are enjoying higher wages and dividends. HALF YEAR'S FINANCE SATISFACTORY POSITION HOPES OF A SURPLUS (Received September 30. 7.5 p.m.) LONDON. Sept. 29 Britain's revenue for the half-year totals £273,000,000 and expenditure £328,000,000. The deficit of £55,000,000 compares with £48,000,000 for the corresponding period of last year. The figures are regarded as satisfactory, in spite of commitment is since the Budget and they encourage hopes of a surplus. Income tax so far has yielded £51,000,000, an increase of £7.500,000. This is due to the revival of payments of equal instalments half-yearly.