TRADE WITH AMERICA

New Zealand Times, Volume XLVI, Issue 10633, 5 July 1920, Page 6

TRADE WITH AMERICA

IMPORTS INTO NEW ZEALAND.

ILAOK OF SUPPLIES FROM BEI- ' " TAIN - Largo quantities of American goods continue to arrive in tho Dominion. When the exchange crisis took place in New York on February 3rd, and the pound sterling touched 3 dollars 31i cents, and a clay later stood at 3 dollars 31 cents, it was thought m commercial circles that this _"puld have tho effect of diverting to British manufacturers tho major, portion of the trade from tho outposts of tho Empire which during tho war had found its way into American channels. Notwithstanding the adverse rate of exchange ruling, importers have continued to place large orders with American firms, and each ship that berths hero invariably brings consignments of various kinds of merchandise for business houses in the Dominion. Inquiries which have been made have elicited the information that there was a general desire on the part of business people to place their orders with British manufacturers, but their expo-, rionco had been that only a very limited quantity 6f good's could be secured in Britain, one reason being that even working at full pressure the factories wcro only able in the meantime to produce little mere than would meet tho demand for Homo consumption. Though Jiomo articles were ear-marked for export to this and other _ Dominions by manufacturers _ desiring to keep ' their overseas business connection, tho delay in fulfilling orders was such that importers here were embarrassed through not being able to eupply the wnnts of customers. Consequently they were compelled to huy m tho otily market open to them, oven though it was not quite favourable by reason of tho exchange rate in operation. ' "Amerie.i is to-day supplying a, very considerable portion of the goods .imported into New Zealand," said ono merchant. ''Owing to the shortago of sugar here, wo have had to go to the. "United States for canned fruits, and other things which formerly could bo purchased in Arstralia." Ho stated further that soft goods were arriving here as well, and the alteration in tho exchange on. New York in our favour hid not improved matters from the British manufacturers' standpoint. From another source it was gathered that tho lack of supplies from Britain was largely attributed to a low standard of production, caused chiefly by the period of industrial unrest through which the country was passing. The opinion was advanced that strikes were hampering those who desired to restore Britain's supremacy in tho world's market.' This authority also said that it was n fallacy to contend that strikes resulted in any practical cood. Even thoso for them, assuming th«Jy succeeded in gaining their point, not infrequently were comparatively very much worse off than thev were previouely—all things considered. The falling off in production inflated values, and this necessarily imposed hardship upon other sections of the community which were not a party to any particular dispute. The main fact was that thefo dispiites aimed at tho destruction of our national prosperity and rendered the British people impotent to regain that position which thoy had lost while engaged in tho great war.