1933-12-30 — Page 7

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THE HONGKONG TELEGRAPH. SATURDAY, DECEMBER 30, 1933.

HOW TARIFFS HAVE HELPED

STRIKING FIGURES FOR

IRON AND STEEL

EMPIRE TRADE

DEVELOPMENT

Striking Agures illustrating the improvement

October, 1932 October, 1938

276,000 tons plus population. As prosperity. 878,000 tons returned the Dominions would take both British goods and British people.

Stocl Ingole and Castings: October, 1932- October, 1933.

489,000 tons. 068,000 tons

Exports of Iron and Stack:

October, 1032

October, 1938

"We have to find ways whereby Britain as the keystone of our prosperity can be restored to 180,000 tone Empire financial and economic .... 103,000 tons structure," Mr. Bruce continued. Export Price of Iron and Steel: "Wo have to reconcile the need of Britain for foreign markets with £2,864,000 the necessity of developing the £2,428,000 Empire so as to provide a pro- £2,995,000gressive outlet for Britain's sur

plus population,

October, 1981-

October, 1932

October, 1933

The exports of Iron and steel of British trade during the last twelve months had through the operation of tariffs increased 20 per cent. in quantity and preferences were given by and 12 per cent. In price, Mr. L. S. Amery, M.P., at the annual meeting of the Empire In- dustries Association.

Healthier All Round

These figures, Mr. Amery stated,

•

Dominions aspirations for the "We have to co-ordinate: the gradual development of their |secondary industries with Britain's position as an old and established safeguard the position of British Industrial nation. We have to

Mr. Amery said that it was the were a triumphant justification of agriculture while meeting the first annual meeting of the Asso- those who contended that our in-needs of the Dominions for a mar. clation at which they could con- dustries could do better if they ket for their exports." gratulate themselves on the actual were given a fair chance. The fruits of the year's operation of the tariff system and of some months of the Increased prefer- ences which had resulted from Ottawa.

:

result was that our trade figures all round were of a much healthier

Need for Driving Force character.

All these problems were difficult, Mr. Bruce added, but not un- Britain's October exports had in-solvable. A driving force was-im- "So far our policy has justified previous year, a gain of 13 per might be provided by co-opting a creased by £3,500,000 over the perative. He suggested that this every promise we made and has cent., while imports had gone up small group of the best men avail- falsified every prediction made by by nearly 26 per cent, which in-able who, divorced from all other our Free Trade opponents" Mr. dicated our condence to produce. interests and activities, could de Amery declared. "Our policy has Moreover, the agricultural situa vote the whole of their time to strengthened and increased emtion was undoubtedly better.. ployment in this country, not at

these paramount problems.. the sacrifice of our export trade, "This is not the time to rest on but concurrent with an improve our oars and think the battle has over by a Brilah Cabinet Minister, Such a group could be presided ment in our export trado; not at "Nothing can be more disastrous able.

been won," Mr. Amery added. or not, as might be deemed desir the cont of raising the price to the consumer on the contrary, an in- to British Industry than to put creased scale of production has on duties and take them off again. Lord Melchett said that they meant a reduction in the price of

had tried for world unity and fail- "We have to educate the countryed, and the next thing to aim for the consumer's article. There to auch an extent that no Govern-was Empire unity. If this could has been an all-round reduction of ment, whatever other changes they be achieved, they would have retailers' prices, including food- may make, will tamper with tariffs. solved the problems of at least a stuffs, during the last twelve But there are still those in the quarter of the world and set an months."

Cabinet who are by no means con-example to the other great Powers, verted to our point of view. We

Study in Comparisons Mr. Amery gave the following figures to illustrate the improve ment in the British iron and stee! industry.

Restriction of imports of iron and steel.

Importa in

October, 1931

have done something, but we still Sir Henry Page-Croft, who pre- want our industrial tariff tighten- posed the health of Mr. Bruce, ed up a good deal. All tariffa described him as a great Austral- should be put outside political con-lan and a great Imperialist. siderations."

"He fought with distinction In Attitude of Dominions the Great War," said Sir Henry,

"and he afterwards fought suc Speaking at the luncheon Mr. cessfully the subversive activities Stanley Bruce, High Commissioner of the Syndicalists and Com- for Australia, advocated the sett-munists in Australia, when they 276,000 tons ing up of a special department to nearly brought the life of the State 163,000 tons deal with the development of Em-to a standstill."

88,000 tons pire trade. These are returns for a single month.

October, 1932 October, 1933

In the drat ten months of this year imports of Iron and steel had gone down by 800,000 tons.

Increase in production of pig iron in this country during the last twelve months:

He said that It was difficult to ace how, even with the restoration of the flow of internaional trade, Britain could solve her unemploy ment problem by an improvement in her manufacturing, industries or by the expansion of her agricul ture. In addition to these things she must find an outlet for her sur

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