THE COLONIAL EMPIRE

Otago Daily Times, Issue 20706, 2 May 1929, Page 9

THE COLONIAL EMPIRE

BIG VOLUME OF TRADE. RUBBER POSITION DIFFICULT. (British Official Wireless.) (United Press Association.) (By Electric Telegraph— Copyright.) RUGBY, April 29. Speaking in the House of Commons, Mr L. S. Amery Colonial Secretary) mentioned that the total trade of the colonial Empire had by 1027 come very close to £500,000,000, and he had no doubt that the figures of the present year would well exceed it. Whilst the situa fion from , the viewpoint of the rubber growers was still difficult and anxious, the gloomy predictions made when the Government decided to end the scheme .f restriction had not been fulfilled. There was no sudden swamping of the market last November . with . the vast stores of rubber held back. On the contrary, the price rose from that date, and whilst it was •till under Is, that price represented more than the same price would have represented - under the restrictions, because it represented rubber produced Under more favourable conditions from the viewpoint of overhead charges, and h*> believed- it was produced in almost every case with, increasing efficiency all round. - Referring to the colonial development fund, the creation of which had been foreshadowed by the Prim*- Minister. Mr Amery said that such a fund would contribute not., nly to the welfare of the inhabitants of the colonies concerned, but directly at Home, in the orders for the equipment - of railways and- other public works, and indirectly, in the general expansion of trade, it would contribute to the creation of much needed employment in this country. Mr .Amery announced that he had appointed a committee to consider the existing system -of appointments in the Colonial Office to the public services of dependencies not in possession of, responsible and to make suet recommendations as might De considered desirable. He said the terms of .reference were wide, so as to give the' committee a very free hand. Sir Warren Fisher would preside, and other members would include Sir Samuel Wilson, Sn H. Bell,! Mr , John .Buchan, M.P., Sir W. Riddell, Sir. John Palmer, Sit Rober Hamilton. M.P., Mr Mciklejohn, Dr Cyril Norwood (head master of Harrow), Sir Russell Scott, Dr Shields, M.P., and Mr Tonkin Son. Mr Amery said that Britain’s exports to the colonial dependencies in 1905 were £18.000,000, and in 1927 £55,000,000. The imports from the colonies in the same years, were £19,500,000 and £60,000,000 respectively.