Further, should the quantity of piece goods Imported "into India and Burma in the cotton piece goods year 1990-1997, after such Adjustment, be less than 400,000,- 000 yards, the quantity of the deflect up to a quantity not exceed Ing, 25,000,000 yards shall be added the quota for the first half of the cotton piece goods year 1997-1938.
Japan thus is permuted a net import Into India of 289,000,000 yards of colton piece goods annually" against purchases of 1,000,000 bales of Indian cotton, compared with 325,000,000 yards in the previous agreement and, against further purchases of Indi colton, Japan's total exports may be Increased to a maximum of 388,000,000 yards compared with 400,000,000 yards previously. A Tt wilt thus be seen that the permitted imports have been reduced by the amount, namely 42,000,000 yards, of Japan's' allotment under the separate agreement recently con-eluded with Burma, but the quantity of Indian cotton which Japan is required {o taka remains unaltered. This is a distinct gain for the In-
There is,0 further gain in the matter of fents which were not in-eluded in the previous agreement. In the 1936 Budget session of the Legislative Assembly, the Government of India sought to cheek the rapidly rowing Import of cotton fents by raising the duty to 60 per cent. Unfortunately, owing to the Assemby's objection' to the increase, pro posed at the same time, in the preference accorded to British fents, the proposal was not adopted and the duty remained at 35 per cent, with the result that as, the chairman of the Bombay Millowners' Association, declared in March, the problem became more acute' than' ever, He maintained that the situation "could not be remedied until all types of Japanese fents were quoted and the duly was made the same og upon the perfect material, This is not the course pursued in the agreement, The duly upon fents will, it 18 agreed, not exceed 35 per cent, ad valorem—so that the Government of Indig are now deprived of freedom of legislative" sation in this respect,
Text read from the printed page and cleaned; old type leaves the occasional error.