Evening star., 1947-09-07
u. 5. Industry 10 Lose
Billion in Trade With
Britain and France
Bv the Associated Press

LOND0N, OSpt. U. - AlIlG1 lCdu
industry has lost about $1,000
~00O,0 900 worth of business through
the recent British, French and
Australian decisions to cut i'm
ports, a survey showed today.
All three nations critically need
the goods they have decided not to
buy. But all say they must con-
serve their dwindhng supplies OF
dollars for bare essentials.
:. Britain is sIashing her imports
! to save at the rate Of $912, ,oo8, 900 a
47year. Virtually all Of the. savings
will be in dollars. &.
- France decreed savings of $780,
900 900, in dollars alone, during the
next six months.
p Australia cut her. imports by $40,-
900 900, all in dollars, per year,
- Most of the dollar savings will be
effected in the United States, but
smaller dollar countries, especially
/, Canada, will feel the pinch, too.
= Food Cut Is Heaviest.
=. Ensnared in her worst economic
crisis Britain's orders for savings in
sher payments to overseas sellers in
tluded these items, authoritatiyelyI
estimated on an annual rate:
81 Food --------------$576, ,000, 600
y Timber --- 10000, ,000l
= Gasoline -- 10000 900
4 Last year, according to Govern
ement statistics, Britain bought from
! america:
" Food 1920, $40 900
(. Timber ---- 15,500, 900
y Gasoline - 81, 100000
q In addition Britain spent about
Z $4,000, 900 last year, according to
authoritative estimates, on Amer
: ican movies.
:. The American film industry BAN
ned exports to Britain entirely after
the British, to conserve dollars, i'm
I posed a rs per cent tax on the
estimated earnings of each Amer
lean film arriving here.
Britain's total expenditures In
America last year were 1907 ,504 $50.
That figure, significantly, almost
equals the amount Britain hopes to
save by scaling down her general
import program.
Supplies for Troops Cut.
However, exactly what proportion
of the projected $9l2,000,0 900 total
savings will be in United States
imports could not be established
from available figures.
Britain also plans to reduce her
overseas military. expenditures by
$80,000,0 900 year. An undetermined
but sizeable part of these savings
will be in dollars which she uses
to help supply the troops.
The British also expect to save
$132,0o0000 worth of foreign cur
rency through the governments re-
strictions on foreign travel by Brit
ish subjects. That will mean some
loss for the American tourist indus
try, although many thousands of
Britons have been choosing France
and Switzerland, rather than dollar
countries, for their holidays.
The British government has not
yet announced the precise details
of its revised import program. Until
it does so, no one will know exactly
which imported items are to be
affected or by how much.
British exports to the United
States in 1946 totatled 40,790, ,084.
France Lists Reductions.
The French Economics Ministry
said France will achieve her $780,
100000 savings in the next half
year by cutting imports of tires,
gasoline machine tools, cotton and
paper.
During the first six months OF
this year French imports from the
United States totaled SALT ,0o0, 900.
The ministry indicated that Frances
purchases Of American wheat, coal,
cereals and fats-her other major
American imports-will continue at
the same rate as far as France is
concerned.
Australia plans to effect her saw
ings by reducing imports Of movies,
newsprint, machinery, automobiles.
and certain luxury items and also
by restricting foreign travel.