EMPIRE TRADE

Otago Daily Times, Issue 18624, 4 August 1922, Page 10

EMPIRE TRADE

LORD DERBY’S APPEAL STABILITY OF LABOUR NEEDED. (Pbom Oub Own Cohkespondent.) LONDON, June 15. At the annual meeting of the British Imperia. Council of Commerce the Earl of Derby touched en the prospects of a revival in trade, and emphasised the need of making this country dependent not so muoh on foreign countries as on our brother* and sisters overseaa Anything that could possibly be done at the present time to assist trade, he said, was worthy of support. The Imperial Council of Commerce was not intended tp promote trade, but to promote facilities by which' trade could work out its own salvation. , Jtie was a tremendous believer in encouraging trade between ourselves and the dominions. Everyone who-., had seen, even for \a brief period, in an inner chamber how dependent this country was on the other countries for its living during the war must feel that everything possible should be done to make ourselves not independent, because that could never be. but dependent not so muoh on foreign countries cn our own brothers and sisters. Trade at the present time was in a state must give anxiety to all. There was talk of a' boom, and he would like to see one, brut it must be real, and not spurious. He would infinitely soor.er see trade increase slowly, so long as it was sure, than a big boom which might die away as quickly as it . arose. To restore the stability of the exchanges of the world was the most difficult problem that had ever confronted Governments or Ministers, and was a matter in which they were glad to think our Government was interested. He would not attack any Government whichtoad an earnest desire to help the re-establishment of the credits of the various countries. It might be that those attempts had foiled, but, at all events, the efforts should be applauded, even if one did not always approve of' toe "methods to far as possible, pre-war conditions. STEADY IMPROVEMENT IN TRADE. If the Government could do something in this direction, there was something else that oould only be done by th© mass of our own countrymen, and that was the restoration of the stability of labour. Until this country/ was able to produce goods that could compete favourably in foreign markets, and. until British manufacturers ' could guarantee the delivery of goods, add were not subjected to toe (hsastrous strikes seen from day to day, no boom was possible for trade. . Until; they got trade back_ into such a condition that a, man would give a fair day’s work for a fair day’s pay, and manufacturers could contract not only to deliver their goods, but to do so on a certain date, the commercial world of, England, must be in a state of disquietude. Ho was sanguine enough to believe that although there might not be a gngat boom, there 'was a steady improvement in trade, and he was confident that their council, working with tKeir friends_ and overseas, might do something to restore pre-war conditions, and, therefore, that they deserved the support and approval of the Whole (British commercial world. 1 COMMUNICATIONS WITH THE DOMINIONS. Mr E Manvilte, M.P., - welcomed the now policy of the Government in regard to the development of the Crown colonics, particularly in view of the present state of unemployment. Trad© with the dominions and India must bo pushed to the utmost. Colonel Amery’a Bill for Empire settlement waa a step in toe right (tomtom. Touching upon toe means of ootnmunication with too/colonies and dominione, ho said that notoing could give better value to teur Imperial trade than the establishment of a wireless chain. _ As to air communications, he had received a memorandum from the Secretary of State for Air. which stated that the subject of Imperial airi ccmftunsoations was constantly in the minds' of those responsible for the organisation of civil aviation at the Air Ministry. The Civil \ Aviation Advisory _ Board bad under consideration the possibility of the establishment of air communication between Egypt and India, and there were indications that such a scheme was a practical possibility, although as a commercial undertaking it would, not be able to carry on without a Government subsidy. The memorandum also dealt' with Commander Burney’s scheme for the formation of a company, to operate airships between. England, India, and Australia. The Air Ministry estimated that the commitments which the Government were asked to undertake would ' represent in' pounds sterling, in the event of failure of toe scheme, between £4,000,000 and £5,00*3,000. It, on the other hand, at toe end of ten years the company was completely successful the Governments concerned might by than have liad to pay out, anything up to one-half of that amount, and the redemption of this sum at the. rate of £25,000 per annum might, without any allowance for interest, take nearly a century to complete. It was, however, fully realised that ilio scheme, involving, as it did, the continued use, preservation, and development of airships, might ultimately be of great national value, both from toe point ol view of rapid Imperial transport and of commerce. The financial aspects of the scheme presented, therefore, a very difficult problem, which the Government' hod now under consideration. ,