The Washington times., 1922-01-22
BRITISH TRADE
BALANCE SHOWS
BIC DECREASE
Figures for 1921 Disclose In.
favorable Balance Of Fifty
Million Pounds Sterling.

Preliminary net figures for British
foreign trade during the year 1871
show an unfavorable trade balance Of
approximately csc, oo0. 900. as compared
with q favorable trade balance OF
GIGS, 900. 900 for the year 1920. says
the Department of Commerce Visible
trade figures for the year 1921 show
an unfavorable balance Of approx.
mateiy f176. 900. 900, AZ compared with
an unfavorable balance Of 1913. o00. 900
in the same items during 1920. This
shows that British invisible exports
during 1921 amounted to about one
half those of 1920.
The Board Of Trade. in a carefully
prepared statement as regards Brit
ish trade in invisible items during
1920, placed their total amount at
f600, 900, 900. II appears this $500 ,0oo.-
600 derived during 1920 from shipping
earnings, dividrnds and interest on
foreign inve~ .fnents, insurance and
commercial services and other Items
included N the invisible trade OF
Great Britain shrunk to approximately
1920 900 900 during 1920, leaving the
aforementioned net unfavorabie
balance. The invisible exports OF
Great Britain during 1918 may be
Appropriated At ons-third OF Q Dill
lion. -
A marked decline was shown In
every branch of British foreign trade
during the month Of December, as
compared with November. The total
foreign trade of Great Britain dur.
ing the year 1921 was IS per cent
in value Of the total trade for the
year 1920.
Reports Of basic Industries mani
fest a very low ebb Of production. the
lowest, in fact. for many years. The
production Of pig iron during 1871
amounted to 100000 tons; coal. 1885,
O0O, 900 tons, and steel ingots $780,.
600 tons. During 1920 production of
these items was: Pig iron, OO7,s00
tons; steel ingots, 9.056,S00 tons, and
coal, 9,zs6, 900 tons. Shipments of
coal to American ports have been
registered and upon inquiry II has
been ascertained that the basic rea,
son for such registration Is that these
shipments were made not 30 much az
a matter Of export but rather as bal.
last in place of sand.
Reports from the London office In.
dictate that shipments Of coal will be
discontinued upon thorough recu'
peration of the trade. Indications
during the latter part Of the year
show that England is rapidly assum'
ing absolute control over her former
coal markets. One Of the beneficial
effects of the coal strike settlement
is to be found In the increased per
capita production. The week ended
December II marked the largest
weekly production and export Of coal
had during the entire year. The for.
eign demand for British Goals Is on
the upgrade, while ocean freight
rates are on the downward gradient.
The present ocean freight for coal
to South America Is at lbs Cd per
ton, which 10 lower than the pre-war
level.
Reports Of the ministry OF labor
show that up to the end of November
$4,000 workers suffered reductions
amounting to a weekly looping off of
approximately 5,563,000 pounds and
III. 800 had received increases amount
ing approximately to 100000 weekly.
The trades most affected were mining
engineering and shipbuilding. textiles,
iron and steel, transport and building,
the decreases in the weekly wages OF
which amounted to f2, SOC, 900, f652 900,
f694,s00, f431, 200, f3S3,000 and f303,-
900, respectively. The number of work
people affected by these reductions
in each of these trades were, in the
order as given above, 1921 900, l.
359, 900, 1904, 900, 239 900, 100000 and
AZ, 900 respectively.