World’s Major Trader

Manawatu Times, Volume LIV, Issue 7287, 14 October 1933, Page 7

World’s Major Trader

BRITAIN RECOVERING BIT BY BIT. (British Official Wireless.) RUGBY, Oct. 12. The president of the Board of Trade (Mr. Walter Runciman) speaking last night said that Britain was in the happy position of regaining bit by bit her old status of great major trader of tho world. A comparison of figures for tho first half of the past three years showed in tho vast majority of cases that the United Kingdom’s share of ’imports into foreign countries had either been steady or had increased, and in some cases tho increases had been very large. By contrast with the summer of 1931 Britain had now attained tho position of being tho strongest financial country in the ■world with the best credit. She bad been able to place her national finances upon a foundation almost as secure as before the war. After referring to the recent trade negotiations with tho Scandinavian countries and their effect on tho coalmining industry, ho said that the improvement on the North-East Coast of Britain had been most marked. The Government was now going to do what it could for the British textile industry, and after that would turn its attention to steel.

Although 'there was now a long list of import duties in force in Britain, the cost of- living remained very much where it was in 1931—an achievement without parallel in the history of modern industries countries.

Mr. Runciman hopes shortly to begin negotiations for a new trade agreement with Uruguay, and will undertake new negotiations with Poland beforo the end of tho year. There are also prospects of an agreement with Spain and Italy.