BRITISH TRADE

Hokitika Guardian, 5 November 1930, Page 2

BRITISH TRADE

OPTIMISTIC VIEW. (British Official Wireless). RUGBY; November 2

In a discussion of the world-wide trade depression, the 'review issued quarterly by the Federation of British Industries, takes the view that, by comparison with that of certain other countries, British trade has been only moderately affected.

As to the future, the review states: “It seems almost certain that some of the more persistent, and long-term causes of our industrial ills are about to undergo a permanent change for the better. Already, despite any appreciable signs of greater willingness to co-operate among the gold-using central banks of issue, the international gold situation is perceptibly easier, and the world credit situation is less rigid. Short-term money rates in the principal centres, with the exception of Berlin, are at the lowest level sincethe war, and show signs of remaining there for some time. In addition, judged by the results of certain recent capital issues in this country, longterm interest rates are beginning to move in the same direction though they still have a long way to go before the price of capital is down to the level required to restore balance between investment and saving. Similarly pressure of borrowing, on account both of international indebtedness and distressed industrial borrowers, is beginning to relax.”