THE CHINA MAIL, DECEMBER 8, 1939
BRITAIN'S TRADE RECOVERING FROM FIRST IMPACT OF WAR
London, To-day.
Replying in the Commons debate on the Liberal amendment to the address in reply to the King, the President of the Board of Trade, Mr. Oliver Stanley, said: "The first month of war shewed a very heavy fall in the value of our export trade, namely something like 38 %
"I cannot pretend that the fall was unexpected. The immediate effect of an outbreak of war is to des- troy the conditions necessary for trade. From the mere impact of war upon our peacetime export trade British exports fell in the first month of war in 1914 by 46%
some
of
In the second month of the pre-reaching the enemy and so aiding sent war there was some improve them in their war efforts. ment when our machinery began to work more smoothly and the shipping difficulties were reduced. A comparison between October and 23.1 September showed a rise from to 24.6 millions, or a rise of seven per cent,"
He could not give the final figures for November, but on preliminary figures, which there was no reason to suppose would vary very much, there had been a major change in our ex- port position.
BACK TO PREWAR Whereas in October the rise over September was of a magnitude of seven per cent., in November the rise over October was in the neighbour- hood of 50 per cent.
The result was that the level of exports for November was about back to the level of exports for the last months before war began.
In the last war it was not until the Spring of 1916 that our exports got as close to the comparable months of the last year of peacetime as we had in November of this year.
Mr. Stanley claimed the facts he
TO A MINIMUM "Though these restrictions are necessary it has been, and will be, our constant effort to reduce them to a minimum and to see that they operate as smoothly as possible."
Turning to the efforts at ingreasing Mr. Stanley the volume of exports said: "It is along accustomed and old channels that the great volume of our export trade is being done and that best possible hope lies of in-
the crease."
Referring to coal, which he describ- ed as the most important and valuable of our wartime exports, Mr. Stanley said coal exports had expanded con- siderably since the war started.
MARKETS NOT THE DIFFICULTY
"Over a large range of the export trade to-day markets are not the real difficulty. We have evidence from a large variety of traders that not only are our enquiries up to peacetime level but they are increas- 'ing." British Wireless.
CHINA'S
had given showed that a very con- DELICATE
siderable export trade was now be-
ing done and that export trade could
be and must be increased.
TRADE RESTRICTIONS
Referring to the trade restrictions
}
and raw materials
SO
of
POSITION
LONDON, TO-DAY, MR, QUO TAI-CHI LEFT
THE LEAGUE MEETING.
FOR
he said there were a certain number | GENEVA LAST NIGHT TO ATTEND of articles urgently uired for
purposes national de. nce that we could not afford to export them, or only allow them be exported in limited quan- tities.
Chinese in London find themselves in a particularly delicate position for while they naturally sympathise with Finland they cannot fail to recognise that gratitude is due to the Soviet for It was only by the system of ex- the substantial help afforded to China por licences that we could prevent in the struggle against Japan.-Reu- valuable exports from this country ter.
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