ROAD TO RECOVERY

Poverty Bay Herald, Volume LX, Issue 18235, 2 November 1933, Page 7

ROAD TO RECOVERY

AN OPTIMISTIC FORECASI INDUSTRY IN BRITAIN CHANCE FOR EXPANSION (Elec. Tel. Copyright—United Press Assn.) (Received Nov. 2, 11 a.m.) LONDON, Nov. 1. < The Federation of British Indus 11 tries’ journal’s trade forecast for tin 1 lust quarter of 1933 says that despite c many unfavorable factors still operating in the international field, par- ’ Ocularly the recent; setback in the 1 United States, it is possible to view 1 the future with optimism. The world may be said to have planted its feet so firmly on the road to re- ' eovory that it \yill take something ; more drastic thqn transitory events | like the instability of the French franc ! and the American dollar to divert it 1 fmin its course. Even if there is some modification of the gold standard . and a further appreciable tlight from the dollar, there is no reason why they should lie unable to retain con! red of the domestic situation. The same is true of many other countries. Lord Melcliott, speaking at a luncheon at the (Jastiron Research Association, said Britain had not possessed smell an opportunity for industrial progress arid expansion since 1930. Our chief competitors were in nothing like .such a relatively strong position as five years ago. Britain now had a better chance than ever of outstripping her competitors in world markets'. EMPIRE TRADE OUTLOOK LONDON, Oct. 22. Though belief in the permanence of Britain’s recovery remains unshaken, thus sustaining the stock market, the American situation is causing uneasiness, as it is recognised that the failure of tin' N.R.A. would mean a Wall Street crash, involving a general slump in world prices of commodities. The effect of Australia’s lead in wheat restriction has been nullified by continued reports that America intends to subsidise exports of wheat to the Orient, thus competing with Australian supplies, and diverting them to the European markets, especially Britain. The Empire Industries Federation declares that the Ottawa policy quantitatively restricting Empire meat supplies has failed, the Government’s estimates of British imports of Aus : tralnsian beef, mutton and lamb having been exceeded by 23 per cent. The success of the Australian official publicity drive against Danish butter in the north of England is revealed in the sudden rise in Australian and New Zealand quotations, while the bigger London operators are seeking Empire eggs owing to the advance in Danish quotations following increased German orders. The Yorkshire Observer, in emphasising the strength of the demand for all classes of wool, says that spinners who expected a decline will be disappointed.