Evening star., 1933-07-30
BRITAIN WILL RELY
. ON EMPIRES HELP
IN RACEFOR TRADE
Baldwin Statement Reveals
Nati0naIistic Aim Like
Washington's.
Special Dispatch to The Star.

NEW YORK, July 29-Cables and
wireless dispatches to Business Week
give the following survey OF business
abroad for the week ending today:
London-If there has been any doubt
about Britain's attitude on national
policy, it was dispelled when Stanley
Baldwin tersely summed up government
policy: I'VE must consider Britain
first; then comes the empire; finally,
foreigners"
Whatever may eventually come out
Of the World Economic Conference, it
is certain that Britain and the United
States are going to concentrate for a
time at least in spreading trade in
certain fixed international areas. Brit
aims primary domain is the empire,
followed by a few choice old customers,
such as Denmark and the Argentine
Americas trade influence will be ex-
erted in Latin-America. probably Rus
sia and the Orient. It is in the Orient
that the two are most likely to clash
Seems Closer TO France.
Just now Britain seems closer to
France and the gold bloc than to the
United States and the inflationist en-
thusiasts. That is due to the fact that
Britain Is preparing for the conversion
Of the $l36, 900 900 Of dollar bonds re-
manning from one Of the early war
loans from Washington. Rumors all
~ iC
to be out Of the Bank of England, ard
that the pound Is tied to the franc, in
dicate the difference Of opinion among
leaders IS to the road British finance
shall follow The bank IS committed
to an anti-dollar policy. the exporting
community, and very Importantly the
dominions are pressing for imitation.
British business continues to show
striking signs Of strength. Through all
the disappointment Of the closing days
Of the conference, and the recent furry
In Wall Street, there has been no un-
favorable reaction in Britain. The stock
markets have remained calm, industry
active, commodities improving. Recent
accounts prove that forecasts of i'm
provement have been justified so long
as they were modest. Postal revenue,
another sensitive barometer, has turned
upward after a decline for nearly two
years. And Britain last year increased
the number of telephone users until
the country ranks ahead Of Germany
Preparations are being made for the
installation Of another TOO, 900 instru-
mentS.
Reich Feels Isolation.
Berlin.-Germans are aware of their
isolation this week in more ways than
one.
Most striking was the decline in the
number Of men working by $4,000 dur
ing the first two weeks of July. In the
face of the mass of NaN propaganda
designed to report every scattered item
demonstrating the success Of Hitlers
so-called employment battle" this is
as serious as it is disappointing. With
the decline Of the dollar, American Or
ders for inexpensive German goods are
being cancelled, according to reports.
Coal output and car loadings both are
down slightly over the totals for pre-
ceding months, but this may be due
only to the Summer lull overtaking the
recovery efforts.
Another indication of Germany's iso-
lation Is the fact that the commodity
and stock markets scarcely reacted TO
the collapse In Wall Street last week.
Hitler's drive to put an end to party
excesses and to restore confidence
among employers is continuing vigor-
ously. The government evidently is
aware that 1t cannot Withstand the
demonstration which follows fear at
home as well as the boycott of foreign
buyers.
French Bare Views Of U. S.
Paris.-France has its own interpre-
tation of President Roosevelt's appeal
to the Nation over the radio early In
the week. To the Frenchman, the ap-
peal was a bold effort to institute a
policy for splendid isolation" which
would at once be a rebuff to Wall Street
and to Europe, while at the same time
compensating the Western States for
their long domination by the East. It
looks to the Frepchman as though the
United States is entering the "era of
the farmer"
Indices of industrial activity were
unusually favorable this week Not
even the spectacular break In Wall
Street had much influence on the
Bourse. Unemployment is declining.