If they were to revalue the exports and imports of 1937 from the point of view of price level, the increased excess of £896,000,000 would While there were many things the Government could do to help industry, the President of the Board of Trade added, nothing compared in importance with what the Government could do for industry if its actions should result in a relaxation} give rise to any ai international tension and removal of fear of wi Mr. Stanley from weaknesses which developed towards the close of the year, had tremely prosperous year ish trade. There had been hardly a section of British industry h had not been able to increase production and its profits and where wages had not tended to rise. In the first four months of 1938, however, there had been a certain slackening in the increas Industrial production last year, he i, had boom nearly seven per cent than in 1838 following increases 14 per cent, and just over even per cent. in the two proceed-years.
American Depression Effects The second cause for dwindling reduction wa. the inf on in ihe United State be only £8,000,000, This rise in the price of raw commodities imported was a thing all of them, for some time, had been hoping to see and the fact tha it was occurring, therefore, did not particular anti because to a the rise in the price of s should be followed after a certain lag by rising receipts from exports. ures for the first four months however, the Minister were not so encouraging. Despite the beginning of the fall of commodity prices, the adverse balance had increased, due partly to the increase of imports but even more to the decrease of exports. A striking fact was that the whole of the increased adverse balance of trade in the first four months of the year Was covered by an increased adverse balance with one country—the United States.
Such he concluded, were disquieting and would have to be taken into account in the negotia-proceeding with the United Wireless through Reuter,
Text read from the printed page and cleaned; old type leaves the occasional error.