BRITISH TRADE TO-DAY

New Zealand Times, Volume LII, Issue 12185, 9 July 1925, Page 9

BRITISH TRADE TO-DAY

FEW INDUSTRIES PROSPERING “BUY BRITISH GOODS,” THE SLOGAN DEPRESSION NOT PERMANENT By Telegraph.—Prw« Assn.-lCopyrigV Renter*!* Telegram LONDON, July 6. An interesting summary of the condition of British trade was given by Sir Philip Cunliffe-Lister, President of the Board of Trade, in introducing the Board of Trade estimates in the House of Commons. He stated that during the first six months of 1925 the coal and pig-iron outputs were respectively S2 per cent, and 67 per cent, of the 1923 figures. The output of coal was steadily falling, and coal exports had diminished by 25 per cent. Steel production was unchanged, but theio was a lower proportion of shipbuilding, and the engineering business was narrowing. The only exceptions to the general depression in the engineering business were motors, which were booming, and cycles and the electrical industry, which were comparatively prosperous. Orders for textiles were dwindling. There had been a serious setback in WOOI. The Minister said it was important that nobody concerned in the woollen trade should hold up stock. The linen trade was bad. Rubber was a comparatively bright spot, and the chemical industry was progressing. Shipping freights wore the lowest on record. I IMPORTANCE OF EMPIRE TRADE As long as Britain was doing world trade she could not remain uninterested in the political and economic conditions of other countries, said Sir Philip. He emphasised the necessity of developing the Dominions and colonial trade on commercial and political grounds. The world production of iron and steel largely exceeded the world’s present absorption, and every effort should he made to reach an international agreement. Replying to Mr Lloyd George, Sir Philip said Britain had suffered no kindof injury by reverting to a gold standard. He was of opinion that the present depression in trade was only temporary. He believed they would get the trade position right if a voluntary effort were made to buy British goods. Sir Alfred Mond said he thought-the Government could partly compensate for the serious loss of trade in China by - a large, bold scheme of development of the Crown colonies. He was of opinion that it would he a good investment in that regar'd to spend £50.000,000, on developing transportation and railways, in the carrying out of which the industries most in need of assistance would he helped. "A FREE TRADE EMPIRE” A notable feature of the debate was a speech by the Liberal, Captain F. E. Guest, who advocated a wide development of Imperial preference as the only remedy for trade depression. He quoted food imports from the Dominions and from foreign countries, and declared that it was obvious the Dominions could easily produce the food, worth £140,000,000, which Britain was now buying from foreigners. One of the main free trade arguments had disappeared since the cost of living had risen to the American level. The cost was now slightly higher than in France, Italy, and Spain, and lower thau in Germany, Russia, and the Balkan States. Captain Guest concluded: “We should create a free trade Empire with high tariff walls against the world. The main obstacle to emigration will thereby be removed.”

SELF-SUPPORTING EMPIRE LEAGUE FORMED IN ENGLAND EAIiL JELLICOE ENTHUSIASTIC. Reuter's TeUcrnm LONDON, Julv 7. A cordial reception was accorded at the Hotel Cecil to the inaugural meeting of the Self-supporting Empive League, presided over by Earl Jellicoe, who explained that the league, which was non-party, was formed to foster and develop Empire trade, and to induce consumers to demand Emoire products, which would assist producers to meet such demands at reasonable prices. Branches would be formed to encoura're industry in their own immediate territory. Australian nmj N 7. Cal'* The council of the Self-supporting Empire League includes Earl Jellicoe. Viscount Willingdon, General Sir William Birdwood. Dame Melba, Mr A. Gr. Orondow ('who is the promoter), Admiral Mark Kerr, Major-General .T. E. Seelv. Mr T. A. B. Wiegall. and Mr Strack (representing Australian primary producers). Earl Jellicoe emphasised New Zealand’s patriotism in the preferential purchase of Empire rroods. He announced that Lady Jellicoe was conductinjz a campaign to induce English housewives to gi\e preference to New Zealand products. Mr Sbrnck mud it was equally imrortant that Australians and' New Zealanders should make up their pro Hmts to appeal to British tastes, as that British manufacturer* should supply goods to suit Australian and New Zealand requirements. OLD MAN CLAIMS PEERAGE Austrnltne npi’ V 7, Cable As#o/tifition (Roueived July 3, 5.5 p.m.) The Edinburgh Court of Session has ediourned till October Alexander Grant 1 * rl.vm to the S'eafield • peerage. Counsel snid that Grant had been influ re bud been an immense amount of d» f ficii!t.y owing to the ago of witnesses who are to give evidence. Grant’s birth, in T*bCS, also provides trouble in