It is therefore clear that a sales campaign in Latin America must in the first instance be directed to the recapture of orders for the products of our heavy industries, particularly iron and steel and machinery. We should certainly be able to supply the extra demand for coal from Brazil and the Argentine, but we shall have to face strong competition from the U.S.A. in any bid for tne trade in iron and steel, machinery and railway equipment. But if we cannot recapture trade here, we cannot recapture it anywhere. The gap in the supply of textiles left by the cessation of imports from Germany is small and in this field we have to face triple competition from Italy, Japan and local industries. To increase our hold on the market for textiles will not be easy.
Text read from the printed page and cleaned; old type leaves the occasional error.