The Waikato Independent. THURSDAY, APRIL 3, 1930. TRADE OF THE EMPIRE.

Waikato Independent, Volume XXX, Issue 2319, 3 April 1930, Page 4

The Waikato Independent. THURSDAY, APRIL 3, 1930. TRADE OF THE EMPIRE.

Britishers the world over are recognised as being retiring in disposition and somewhat pessimistic in temperament. While they possess sterling fighting qualities and grim determination, that have stood them in good stead through many a trying situation, they arc apt to '' muddle along,'' and in doing so, to look on the black side of things—to flecry their own efforts. Too often we fail to recognise the virtues of our own nation, and some seem to take a pleasure in prophesying the decadence of the British Empire. This prevailing sentiment may probably be due to the true Britisher's national abhorrence of egotism and anything savouring df braggadocio, or jingoism. At the same time, this feeling is apt to be overdone, and calculated to belittle our nation in the eyes of others. People are likely to be takem at their own estimate of themselves, and without boasting, our Empire, has many wonderful characteristics and occupies such a proud position in the world to-day that it is wise from time to time to let other people know something of our nation's greatness. These remarks apply to the trade of the British Empire. Some-would have us believe that Great Britain is a spent force —that her trade is diminishing, and that other countries arc ousting us from the proud position of sovereign of the seas and. being the greatest' traders in the universe. This is, happily, far from the truth, indeed it gives us pleasure to know that the external trade of the British Empire, even when the statistics relating to interImperial transactions arc eliminated, exceeds that of any other large unit, such as tho United States of America or the suggested United States of Con- I

tinental Europe. It is also well to know that between 1913 and 1927 the trade of the British Empire with the world advanced more rapidly than the trade of the world. We would do well to remember these facts when we hear persistent disparaging reports about Great Britain's diminishing trade. It is a fallacy. The thirteenth report of the Imperial Economic Committee —an exceedingly interesting and informative document just to hand—contains a mass of statistics and authoritative statements which must afford satisfaction to every loyal Britisher. For instance the following figures arc quoted showing the percentages of total world trade in 1927:—British 'Empire, 29.48 per cent; United States of America, 14.21 per cent; Northern and Western Europe (including Norway, Sweden, Denmark, Germany, Switzerland, Italy, Portugal, Spain, France and Belgium), 27.49 per cent. For 1928 the percentages were: 29 per cent, 14 per cent and 28 per cent respectively —very similar to the position in 1927. It is further stated that the share of the British Empire in world trade was greater in the years 1925 to 1928 than it was in 1913, before the Great War. To have obtained this greater share of the world trade the total imports and exports of the Empire must have increased in volume by more than 20 per cent. Incidentally it is interesting to note from the statistics supplied that the progress of our own Dominion of New Zealand in the volumes of its imports and exports has been twice as rapid as that of the world as a whole—this applies to the period from 1913 to 1927. Space prevents our touching upon many interesting phases of the subject of Empire trade dealt with exhaustively in the "report under review, but we would like to draw attention to the following brief comments re the position of the British Empire in world trade:—(l) The Economic Section of the League estimates that total world trade in 1927, re-calculated at 1913 values, was 20 per cent greater than in 1913. (2) Tho aggregate of the imports and exports of the various parts of the British Empire represented nearly 30 per cent of world trade in 1927. (3) It exceeded the aggregate of the foreign trades %f the countries in Continental Europe west of the Balkans and of tho former Austrian and Russian Empires (excluding tho Netherlands). (4) Since 1913 direct trade between Empire countries and foreign countries has expanded somewhat more rapidly than inter-Imperial trade. (5) The advance of the Empire overseas since 1913 has been rapid. In 1927 and again in 1928 the total exports from the Empire overseas exceeded those from the United Kingdom by about 40 per cent, although in 1913 they were below them by some 7 per cent. (6) In Canada and New Zealand exports in 1927 were, as compared with 1913, greater in volume by about 100 per cent and 49 per cent respectively, although concurrently the ratio of the prices of exports to the prices of imports in 1927 was above the corresponding ratio in 1913. These facts denote rapid progress. (7) On the whole the volume of merchandise entering into inter-Imperial trade in 1927 exceeded that of 1913 by more than 20, probably by about 25 per cent. (8) The United Kingdom is the focus of inter-Imperial trade, of which in 1927 about 84 per cent centred on the United Kingdom. (9) In 1927 the United Kingdom imported and used about 40 per cent more Empire produce than in 1913; the increase in the imports of foreign produce in the same period was about 15 per cent. (10) Exports from the United Kingdom to the Empire overseas, were about 9 per cent less' in volume in 1927 than in 1913; the decrease in volume of exports to foreign countries was in the same years about 30 per cent.