Page 421 - clra62_0019-(GIPE)

THE PRESEN,l" ECONOMIC CONDITIONS AND OUTLOOK 4 1 3
way would 'be manufacture, which would be good for
the manufacturing industries! Those who argue, how-
ever, that our wealth is a misfortune may be left to
~rgue. Such misfortunes are only too easily borne.
Nothing need be said in detail as to the way in which
this foreign income fro~ property is supplemented by
the remuneration of su ects of the United Kingdom
employed abroad, e.g., i India, South Africa, and other
parts of the world, though the amount is no doubt very
large-much larger than any amount for which the
United Kingdom is a debtor in respect of foreigners
there employed. When our income from abroad is re-
ferred to, however, and an attempt made to narrow it in
every possible way, the variety of its sources should be
kept in mind. It is convenient to deal with the main
and obvious items, but not so easy to get hold of every
sum which ought to come into the account.
The second item of set-off we have to examine is the
exports. How much do we export, and what?
Answering the question of how much, we find the
gross export so-called of British and I rish produce and
manufactures to amount to £284,000,000; but rectify-
ing this amount by deducting the above sum of
£7°,000,000 for raw material previously imported, and
re-exported in a manufactured form, we arrive at a sum
of £2 '4,000,000 as the sum of exports of the net pro-
duce of our labour and capital which goes away in order
to obtain from abroad the things which we require for
home consumption. In other words, we get about half
the foreign things we require (£398,000,000 altogether)
by means of our Of export" trade.
The main items of this sum are set out in the ac-
companying table, which is also so a~anged as to
exhibit in detail the estimated deductlOns from the
official figures of exports of BritisJ:!. and Irish produce
40n account of t~ raw material contained in them which
had been previously imported:-