BRITAIN'S TRADE

New Zealand Herald, Volume LXXIII, Issue 22393, 14 April 1936, Page 5

BRITAIN'S TRADE

MORE SALES ABROAD ' BEST FEBRUARY SINCE 1930 MANUFACTURES INCREASE Following a slight easing in December and January, Britain's export trade in February was the best for that month since 1930. The value of the export trade in February was £34,097,501. a rise of £1.981,424, compared with January and a gain of £2.255,259 compared with February, 1935. The extra leap year day made little difference to the comparison with February, 1935, as it fell on a Saturday, a half-holiday. January had two more full working days than February. Allowing for this, the gain in exports averaged about £200,000 a day throughout the month. Another satisfactory feature was that the steady increase in the adverse balance in recent months was checked. Imports totalled £56,432,355, an excess over exports of £21,555,851, or nearly £10.000,000 lower than in January. The renewed activity in the manufacturing trades was indicated by the fact that, compared with February, 1935, manufactured goods accounted for £804,717 of the rise in exports. The effect of sanctions on trade with Italy was again evident. The chief sufferer is the coal trade, whose exports to Italy have declined from 306.525 tons in February, 1935, to 15,019 tons. Italy's loss in food and drink exports alone to Britain in January and February, however, amounted to about £500,000 on the basis of the February, 1935, figures,

EMBARGO ON STOCK NEW ZEALAND ATTITUDE FURTHER PROTEST IN BRITAIN [from our own* correspondent] By Air Mail LONDON, March 21 Arising out of a discussion at the annual meeting of the Aberdeen-Angus Cattle Society on the question of the New Zealand livestock restrictions, correspondence has passed between the secretary of the society and Mr. Walter Elliot, the Minister of Agriculture, and Mr. Malcolm Mac Donald, Secretary of State for the Dominions. In the society's letter to Mr. Elliot it is stated: "New Zealand is the only Dominion or colony which refuses to carry on business in the export of pedigree stock through the medium of the Ministry of Agriculture's quarantine station, which is supplying such an efficient and safe system for export purposes. The failure of New Zealand to accept this system is having the result of practically excluding cattle from this country from entering New Zealand, except through very lengthy and costly quarantine in Tasmania." The position, the letter proceeded, was aggravated by the fact that numbers of pedigree cattle were being imported into New Zealand from the United States of America, which cattle, but for tjie restrictions, would in great part at least be taken from Britain. The letter concluded by urging that the department take steps to have the restrictions removed so as to allow of direct shipments of pedigree stock to New Zealand,- as in the case of the other Dominions. In reply, Mr. Elliot stated that repeated representations had been made by the Government of the United Kingdom to the New Zealand Government, urging the modification of the embargo so as to admit of the importation of animals passing through the London quarantine station, and that further action would be taken whenever a suitable, opportunity occurred. Mr. Mac Donald said the matter was receiving attention.

MORE MONEY SAVED RECOVERY IN AUSTRALIA SAVINGS BANKS DEPOSITS [from our own correspondent] SYDNEY, April 9 Australia's recovery from' the economic depression is exemplified in the savings bank deposits of the last two years. The deposits in that period have grown from £205,449,000 to £221,885,000, according to figures released by the Commonwealth Statistician. The periods covered are the 12 months ended February in each year. The increase for the year to the end of last February was £8,511,000, compared with £7,925,000 for the previous 12 months, and £7,094,000 in 1933-34. Deposits at the end of February, 1935, were £213,374,000. Since January, 1935, every month saw a substantial increase in deposits until last December, when the total dropped from £221.670,000 to £220,525,000, but the increase was regumed in the first two months of this year to the new high level. The increase in February was £797,000. At the end of February, deposits were £3,900,000 higher than at the end of last June The increase in deposits in New South Wales for the 12 months was £2.657,000, bringing the total in savings deposits to £79,191,000. The corresponding Victorian figures were £2,153,000 and £72,626.000.