The British Government and Trade Organization

The main function of the department at home and of the three overseas services is to bring to the attention of British manufac turers and traders not only specific openings for export trade which come to their notice, but all general information of an economic or commercial nature which may be of assistance in their trade abroad. All information received by the headquarters office from its overseas officers, is brought by that office before traders by direct dissemination, or by publication in the Board of Trade Journal, which was established in 1886, has been issued weekly since 1900 and forms a continuous record of the various commer cial laws and regulations, and especially of the customs tariffs of the world. The trade commissioners, commercial diplomatic officers and certain of the consular officers furnish reports on the economic conditions of the countries forming their district which are published in a regular annual series. Apart from the work of distributing information. the department and its overseas officers are able in many ways to be of assistance to British firms in con nection with difficulties which they may be experiencing or in pro viding their representatives with facilities when paying business visits abroad. The overseas officers are constantly in touch with representatives of British firms visiting their country and as an additional means of direct contact between them and commercial men at home systematic arrangements have been made for official visits by the overseas officers to Great Britain bringing them into contact not only with the headquarters of the department but also with the business community.

Exhibitions.

Another branch of the department is the exhi bitions and fairs division, whose principal function is the organi zation of the British Industries Fair. This fair was first held in 1915 and is held annually in London and Birmingham. It con sists exclusively of a display of goods of British manufacture in a great variety of trades. Bona fide trade buyers are alone ad mitted, except for special hours when it is thrown open to the public and the fair has now become a permanent feature of the trade organization of this country. The London section of the fair is organized and controlled by the department of Overseas Trade, whereas the Birmingham section is organized under the auspices of the Birmingham chamber of commerce.

The exhibitions and fairs division is also responsible for the organization of official participation in international exhibitions.

Export Credit.

As regards Government provision for export credits, the first scheme adopted by the British Government was started in 1919 after the war of 1914-18 had left the finances and currencies of Europe in a more chaotic state than commercial men of that generation had ever known, and at a time when some external aid was required to facilitate the resumption of trade with countries whose commerce and industries had been crippled by the war. Under the original scheme advances were made to exporters without recourse in respect of shipments to such countries, but importers were required to provide approved collateral security. This scheme was replaced in 1921 by a system

which was extended to all countries except Russia, and under which payment of a proportion of bills of exchange was guar anteed by the exports credits department. The scheme of 1921, which was devised to meet still rather abnormal trading condi tions was by no means simple, but it undoubtedly brought to this country a certain volume of business, which would otherwise have been placed elsewhere. As the major disturbances in international trade passed away a new scheme was instituted in 1926 on the recommendation of a committee of bankers and others appointed to examine the general question of credit insurance. Under the present (1929) system the exports credits guarantee department insures the payment at maturity of a proportion, not exceeding 75%, of bills of exchange drawn upon approved importers over seas in respect of goods manufactured in the United Kingdom. The greater part of the department's business is done under con tracts or insurance policies designed to facilitate normal business in the principal exporting industries.

British Imperial Trade Problems.

There were also created, in accordance with resolutions of imperial conferences, during the period of reconstruction after the World War, special new organs for the authoritative study of the economic problems of the British empire, the first being the imperial shipping committee appointed in 192o. This body, which was the first to be respon sible to all the several Governments of the empire, included within its early activities matters of such primary importance to mer chants as the rebate system and the liability clauses in bills of lading. In 1925 came the appointment on the same basis of the imperial economic committee, which has since presented reports dealing with the preparing for market and marketing of meat, dairy produce, fish, poultry and eggs and honey, and has conducted enquiries into empire tobacco and empire timber trades.

On the recommendation of the imperial economic committee there was appointed in 1926 the Empire Marketing Board to advise the secretary of state for dominion affairs in the adminis tration of a parliamentary grant of .L1,000,000 placed at his dis posal for the purpose of furthering in the United Kingdom the sale of empire produce from home and overseas. The main work of this board falls under three headings, publicity, scientific research and economic investigation.

The Board's contributions to the merchant side of the complex undertaking of furthering the sale of empire produce include the furnishing of information as exemplified in the Weekly Fruit Intelligence Notes and the organization of trial shipments, while assistance is given to experimental and research work on ref rig eration and the grading, packing and transport of foodstuffs.