COLONIAL EMPIRE

New Zealand Herald, Volume LXXII, Issue 22172, 27 July 1935, Page 13

COLONIAL EMPIRE

TRADE AND FINANCE AN IMPROVED POSITION REVIEW BY MINISTER By Telograph—Press Association—Copyright (Received July 26, t>.s p.m.) British Wirolcss RUGBY, July 25 The Colonial Secretary, Mr. Malcolm Mac Donald, submitted the Colonial Office vote in the House of Commons to-day. He spoke of the colonies' financial condition and the improvement in their trade and discussed the effects of the regulation schemes for tin, tea and rubber. The Minister said he was able to report further progress in the securing of balanced Budgets. Kenya, Malta, and the Federated Malay States, after having deficits in 1933, balanced their Budgets last year. A comparison between 1934 and 1933 in a number of representative colonies showed, on the whole, an improvement in their trade figures. Efforts had been made to expand the markets for colonial products in Empire countries by-a wide extension of the system of Imperial preference. In regard to a great many commodities Britain had so arranged her purchases that almost the whole of her supplies came from the colonial Empire. The exports from Ceylon and Malaya had shown a great increase in value. The better prices were due to the schemes for regulating the production of tea, rubber and tin. Mr. Mac Donald defended the international tin restriction scheme from criticisms arising out of the recent market scare, on the grounds that over a period" of a great many months it had smoothed violent price fluctuations. Success, too, had attended the tea and rubber regulation schemes, which had restored prices to an economic level for the producers. Tho economic depression made it inevitable that educational development was at a standstill, but more money was being spent on medical research and, when trade and revenue expanded, more money could be spent on improved health, educational, social and political services. -

The primary object sought by the Government in the development of the territories and their resources, the Minister said, was the benefit of the people themselves, both white settlers and natives.