In the memorandum which Mustafa Nahas Pasha recently addressed to the British Ambassador in Cairo, representing Egypt as oppressively victimised by the restrictions imposed on shipments of cotton to neutral European countries since the outbreak of war, the Wafdist leader showed little regard for the statistics of the export movement and ignored the substantial rise in prices from which cotton-growers have benefited, states the "Manchester Guardian."
During the seven months ended March 31, Egypt exported 5,600,000 cantars, or 370,000 cantars more than in the corresponding period of last season. The distribution, with comparisons, was as follows:
(00's omitted.)
1999-40 1938-39 To cantars cantars. Great Britain and Allies 3,625 2515 European neutrals lzs 1115 Extra-European neutrals 850 '640 Hostile and subject States—900
Total 500—52" Increase in Shipments The increase in shipments to the extra-European neutrals was 210,000 cantars, or roughly 33 per cent, It is arguable that, but for the restrictions, shipments to the European neutrals would have increased in a similar proportion, and, on that hypothesis the control has so far curtailed Egypt's exports to the extent of 360,000 cantars. On the other hand, the takings of Great Britain and Allied States to date show an increase of 1,050,000 cantars. This exceeds by 150,000 cantars last season's exports to Germany, Czecho-Slovakia, and Poland in the corresponding period, thus fully offsetting the loss of those outlets and also going a long way towards compensate ing Egypt for the limitations on trade with the European neutrals. A relaxation of the restrictions now would doubtless lead to a sharp increase in the rate of the shipments in some directions, but by March 31 the total exportable supply had been reduced to 3,100,000 cantars (against 3,850,000 and 4600000 cantars respectively at the corresponding time last year and the year before), and it seems probable that in the remaining tive znonths of the season the bulk of this smaller surplus will be absorbed in the channels which are open to unrestricted trade. Only if this is not so and the market is left with a burden some carry-over will Egypt have the semblance of a legitimate grief vance on the score of export control.
Text read from the printed page and cleaned; old type leaves the occasional error.