CORRECTION OF BALANCE

Taranaki Daily News, 14 April 1932, Page 5

CORRECTION OF BALANCE

BRITAIN’S OVERSEA TRADE

IMPORTS HEAVILY DECREASE PRINCE SEES GOOD SIGNS SPIRIT OF CO-OPERATION By Telegraph—Press Assn.—Copyright. Rec. 5A p.m. London, April 12. The Board of Trade figures for March show that imports decreased £9,482,000, exports £2,793,000 and re-exports £14,000. The principal decreases In imports were: Food and drink, £1,957,000; iron and steel and manufactures thereof, £723,000; cotton yarns and manufactures, £658,000; woollen yarns and manufactures, £1,060,000; apparel, £1,358,000; miscellaneous manufactured articles, £1,101,000. Decreases in exports included: Coal, £572,000; vehicles, £1,342,000. Increases in imports were: Grain and flour, £766,000;- raw cotton, £1,060,000; raw wool, £807,000. Increases in exports were: Cotton yarns and manufactures, £979,000.

•The adverse trade balance has been reduced to £24,499,000, compared with £34,738,968 in the previous month. The Prince of Wales, in a message to the National Industrial Alliance to-day, said he could see no more hopeful sign for the restoration. of industrial prosperity and the consequent well-being of the people of Britain than the determination of the employers and the employed to combine in a spirit of mutual helpfulness and by the pooling of their Experiences and special knowledge to geek to solve many of the problems which at present concerned them. Newspapers emphasise the historic interest of the trade returns following 70 years of free trade. Papers point out the striking reduction of the adverse balance of Britain’s trade in the first month of a general tariff, the excess of imports in March being £10,267,000 less than in February; moreover the imports which suffered reductions are manufactured articles, while the exports are the highest of the year. Therefore, it is claimed by papers supporting the Tpform, there, is evidence that the effect of the new tariffs in many directions will be soon helpful to home industries. The least satisfactory feature is the further decline in coal exports owing to import restrictions in France, Germany and Belgium.