QUEST OF FOREIGN TRADE

Timaru Herald, Volume CXXXIX, Issue 20096, 1 May 1935, Page 7

QUEST OF FOREIGN TRADE

FISCAL POLICIES OF NATIONS GERMANY’S THREATENED DUMPING United Press Association— By Electric Tfileeraph—Copyright (Received April 30, 7.0 p.m.) LONDON, April 30. The safeguarding duties on 6000 articles, mainly vital necessities in the manufacture of war material are due to expire on August 19, 1936, and the i Board of Trade has appointed a committee to consider the position then : arising, whether the duties should i continue, fixing the rates thereof and ' whether other articles should be made ' dutiable. Negotiations With Italy. The Secretary for Overseas Trade, Lieut.-Colonel D. J. Colville, announced in the House of Commons that as the result of the Anglo-Italian negotiations, it has been agreed the best: course for the present was to continue with certain adoptions of the provisional arrangement, which had been concluded on March 18. Either Government has the right to terminate the arrangement at the end of any month from June onwards, or propose new negotiations for a definite agreement. The arrangements now made, which come into force on May 1, are set out in an exchange of notes. Lieut.-Colonel Colville drew particular attention to one feature of the agreement whereby the Italian Government will arrange that all persons in this country, from whom payments were due to persons in Italy, in respect to Italian goods exported to the United Kingdom on or after March 18, 1938, and of freights earned by Italian ships carrying goods between the two countries, and due on or after May 1, 1935, shall be authorised by the creditors in Italy to make such payments to the special sterling account at the Bank of England, into which all sums received from Italian exports to the United Kingdom, and from the freights referred to above, are to be paid. This special sterling account is to be used to pay creditors in the United Kingdom, to whose credit, lire has been deposited in Italy in respect to United Kingdom exports to Italy, and freight for the carriage of goods between the two countries in British ships. He hoped this arrangement would be in full operation in a few days’ time. As regards the Italian system of regulating imports, certain modifications are to be made, which will give the system greater elasticity in various respects, and at the same time provisions have been made in regard to the United Kingdom import trade in certain classes of goods, such as *■ raw. wool, which will be subject to special regimes in Italy. The second exchange of notes is designed to facilitate exports of Newfoundland cod fish to Italy. MORE MEN AT WORK IMPROVING CONDITIONS IN BRITAIN British Official Wileless (Received April 30, 5.5 p.m.) RUGBY, April 29. A big increase in the number of persons in employment and a corresponding diminution of the number out of work is shown in the monthly return of the Ministry of Labour. The numbers of unemployed on the registers of employment exchanges on April 15 totalled 2,044,460. This is 109,410 less than the number on the registers on March 25 and 103,735 less than a year before. The latest total comprises 1,633,302 men, 47,989 boys, 300,943 women and 52,226 girls. A gratifying feature of the returns is that the diminution in unemployment during the period under review was spread over all areas, but the most substantial advance was in the northeastern area of England. None of the principal industries in Britain showed any marked decline in employment. GERMANY’S DUMPING POLICY SEEKING OVERSEA MARKETS United Press Association—By Electric Telegraph—Copyright (Received April 30, 5.5 p.m.) BERLIN, April 30. A plan for extensive dumping has been prepared and it is expected to be issued early in M»y. Th plan provides for the creation of a fund of £83,000,000 by means of a surtax. The money will be used to enable exporters to sell goods abroad at or below the world price. Plans to End Unemployment. The Berlin correspondent of ‘’The ; News-Chronicle” says: There will be no . unemployment in Germany by the end [ of the year, according to Dr. Ley, l Leader of the Germany Front, in a ; manifesto to workers and employers. > Dr. Ley has drawn up ten command- ; ments for the workers. The first says: ‘‘We greet our leader each morning 5 and thank him nightly for giving us ’ the will to live and work.”