THE TRADE OUTLOOK

Dominion, Volume 2, Issue 408, 18 January 1909, Page 5

THE TRADE OUTLOOK

MINISTER CRITICISED. THE CLEARING HOUSE .FIGURES.. 1 BIG SHRINKAGE. (BY TELEGRAPH—TOESS ASSOCIATION—COPYRIGHT.) (Rec. January 17, 4.45 p.m.) London, January 16. "The Times" states that tho business of the London Bankers' Clearing House snowed a shrinkage of £610,000,000 compared with the figures' of, 1907. All the' provincial clearing houses showed a proportionate reduction. Railway receipts also showed a heavy,reduction. Tho "Spectator" says:—"For brazen political impudence, flagrant paradox, and unblushing sophistry, Mr. Churchill's Birmingham speech will be.hard to beat."

CLEARING HOUSE RETURNS FOR 1907. The total for the' London clearing house for 1907 .was ,£11,656,950,000, so that—deducting tho figures cabled—the total for 1908 'must be, .£11,046,950,000. In 1906 it was ,£11,719,021,000./ The country clearing for 1907 was returned at .£1,073,443,000, and for. 1906 at' .£992,313,000. . ~. The Birmingham. speech o5 tho President ot | the Board of Trade was tor,-the most .part-a defiance-of. the tariff reformers (whom the "Spectator" also dislikes) and the House of Lords, and a promise that tho Government will keep on the path of progress, despite tho Lords and the by-elections. Possibly the spccch.which. the /'Spectator'-' censures is that which the Minister.delivered to the Leicester Chamber.of Commerce, in which ho touched on the v question of the relations of capital.to pending legislation. According to the cablegram, he, said there was a general-concensus of opinion that the bottom of the trade, depression had been leached: ?io unfavourable conditions -were apparent which would he likely to retard the process of recovery. ■■ Though :next session Parliament would deal with important questionsof finance, he knew nothing which' would justify the trading and manufacturing classes in apprehending, any financial injury to the smooth and active flow of business enterprise.' Therefore, he predicted that 1909: would be, a year of commercial and. industrial recovery.'.