ENGLAND AND IRELAND

Hokitika Guardian, 2 April 1928, Page 4

ENGLAND AND IRELAND

TRADE CONDITIONS. At the annual general meeting of the National Bank, Ltd., in London, on January 26, interesting references were made to trade conditions in England and Ireland. The ehniroan, Mr J. B. Meers. said, inter alia, dealing with trade in England:—“lt is very encouraging to note from the overseas trade return the substantial decrease

during 1927, 'when fcompared with 1926, in tire visible adverse balance. Imports are some twenty-one millions less, while there is a large increase—fiftysix millions—in exports. This clear*;, indicates that we are making progress. A review of the position in Ireland discloses an improvement in the external trade as reflected in larger exports and: reduced imports, thereby showing a substantial reduction in the visible adverse trade balance. Unfortunately this is not accompanied by more pros-: porous internal trade. Some improvement is noticeable in the textile and shipbuilding industries in the NorthEast. and a steadily increasing dairying business throughout Southern Ireland. Peace prevails in the industrial world. The highly successful flotation of the second national loan in Dublin and New York on more favourable terms than the previous loan, is very gratifying. About one million subscriptions of our clients to the second National Free State loan passed through our bank.” Sir Thomas Henry Grattan Esmonde, deputy-chairman of the bank, and chairman of the Irish board, said:—

“Things are certainly improving in England, and in the prosperity of England Ireland must inevitably share. The coming together of capital and labour is important. That is the real solution of the difficulty which has been so acute In England and Ire land during recent years. During most ol my political life 1 have had the honour of being associated with many of these gentlemen, and it is my confident belief that the interests of English labour are perfectly safe in their trained and experienced hands. Turning to Ireland, agriculture has never been in a worse condition tlinnit reached last year. There is no doubt about it that the Free State Government has taken very wise and useful steps for the encouragement and regulation of the agricultural industry which eventually must have excellent results in the Free State, if not further. The future political developments in the Free State are now on settled constitutional lines. That means that in tire Irish Free State we shall have a stable system ol government. With the certainty of a continuance of that state ol things the shareholders of the National Hank have not the smallest reason to he anxious as to what the future has in store lor them.”