Reviewing the speeches of the chairman of the big British banks, }the Murch letter of the National City Bank of New York has some interesting comments on the general trend of the economic recovery in Great Britain, After pointing out that loss fof trade in the older industries has eon partly made good by develop-Ing new enterprises and that efforts to improve the older Industries have also been initiated, the letter observes bye taken as evidence' of the value. of This improvement may undoubted!
the balanced budget, reduced. taxes confidence in the stabllty of the Currency im stimulating lending, while the Industrial changes growing out of cee Sees rca reece te nea mee ie Shine tym cary and eons Sees "set See iRroncsen a he eet crat ud ste ELEC alan have no een
Text read from the printed page and cleaned; old type leaves the occasional error.