It is interesting to note that amongst those imports which show the most marked increase, are raw iron and steel, iron used for building, and coal; on the other hand, there has been a certain decrease in raw cotton and copper, raw materials for brewery, wheat, fodder and oxen. As regards exports, the textile industry shows an increase of 66 million Swiss francs, cotton fabrics alone having gained more than 3 million francs.
Foodstuffs have gone up by one million, materials, appertaining to chemical and phsrmaeutical industries have increased by 14% million francs. The metallurgical trade row-ever shows a decrease of u million francs, due to the s the watch trade, where sales have declined from 51,7 million francs to 40,1 million. This loss can be largely attributed to the political situation which hardly favours the export of luxury articles. On the other hand, all other branches of the metallurgical trade show a distinct progress (machinery: an increase of 4 million, tools and apparatus: 2 million, raw aluminium: 1,5 million, etc.)
The index of the cost of living and that of wholesale prices has maintained the" same level, the former showing even a slight tendency to decrease. (Unemployment is on the decline: during the month of March, the application for work dropped by 1,000 as compared to 1938, and by 20,000 as compared to January 1939.
Trade Improving Inspire of the troubled political situation, it is evident that Swiss trade is slowly but surely on the uprise. One should not forget the tremendous effort put forward by Switzerland to re-enforce her National Defense. In April, the Federal Parliament voted a credit of 415 million francs, one half of which will go for the upkeep of the army, and the other half to procure work for the unemployed. However, this still was not deemed sufficient and the government forsees a further credit of 190 million franes, which will be devoted exclusively to National De-tense.
The gold reserves of the Swiss National Bank amounted to 2,472 million Swiss franes; discounts and advances on securities reached 214,8 millions. The notes in circulation (1,747 millions) and the other liabilities at sight (1,236 millions) were covered by 82,8 per cent.
Text read from the printed page and cleaned; old type leaves the occasional error.