Products Of The South Seas.
p. 31 · Read in the full issue
Copra Market in Encouraging Condition.
THE copra market continues very Arm, with a rising tendency.
The increased value of the product, plus the premium which has been given by the British and Australian ex changes has put the copra producers of the South Seas in high good humour — which is not to be wondered at when one remembers the very lean times they experienced in 1930 and 1931.
We have examined all available re ports on the copra situation, but we nave not been able to And any particu lar factor which in itself is sufficient reason for the increase in intrinsic copra values. The only new factor dis covered to date is a suggestion that a reduction in the Indian import duties has permitted a much larger import of copra to that market, with a corre sponding increase in price. To us, it does not seem to be a factor of much importance.
However, why question the sunshine —there it is for humanity to enjoy.
The very remarkable improvement in Britain’s commercial and financial con dition within the last three months has added much to the values of primary commodities and, at the moment of writing, there is every reason for con fidence regarding the condition of Brit ish trade and rosy optimism for the future. Even the most pessimistic economists admit that the prospects of British trade and industry have not been better at any time since the end of the War.
One is tempted to follow the lead into a discussion of the gold standard and the really amazing position of U.S.A, and France who, with three-quarters of the world’s gold cornered, are economically very sick, and steadily becoming sicker.
However, their evil condition is suffi cient for the day. The English paper pound, because of the impregnable position of British credit, is rapidly taking the place of the golden sove reign as the unit of international cur rency and trade; and there is little doubt that the growing strength of Britain will be reflected in the growing sickness of France and America, so long as they maintain their tariffs and their hoards of gold.
The good credit of the British Empire and the maintenance of the gold stand ard by France and America unquestion ably mean more healthy and active trade generally, in which the South Seas planter will benefit.