In concluding a series of articles on the financial position a writer in "The Times? states that reaction in trade was inevitable as} a result of readjustment of economic conditions. It has. been accentuated partly by the extravagance of the Government and its mistakes in financial policy. The check to inflation resulting from diminished war expenditure has reduced buying power, which has also been cut down by the disorganization of the monetary' systems of Europe.
Economic improvement has rendered our Continental customers unable to pay us for the goods they want. This can be remedied in the uiain only by internal action on the part of the different countries. Stability of exchange ie first of all necessary. The forthcoming League of Nations Conference at Brussels has been convened to deal with this aspect of the problem, and if its labours are successful, as everyone hopes they will be, then trade should receive a stimulus from it.
Text read from the printed page and cleaned; old type leaves the occasional error.