LASTING RECOVERY
CONFIDENCE IN BRITAIN. EXPANSION OF IMPORTS. BANK CHAIRMAN’S SURVEY. (United Tress Association—By Electric Telegraph.—Copyright.) Received January 27, 8.5 a.m. LONDON, Jail. 26.
“Tlio steadiness of Britain’s recovery suggests that it is of a permanent and long-term character,” declared Hon. Rupert Beckett to-day at the annual meeting of the Westminster Bank, Ltd.
“The recent setback is for the present only slowing down activity and is liable to attract exaggerated attention, as it has succeeded a long period of unbroken progress. Tho view is gaining ground that in the next few months we will see a resumption of recovery in the United States, which is so largely responsible lor tlie present loss of confidence. Britain herself is fortunately placed. Recovery each year has taken a firmer hold, sending its roots deeper and deeper. “The present prosperity is not due to the rearmament programme, which has represented only a fraction of the total output of industry,” said Hon. Beckett. “The big expansion of imports is partly the reflection of the enhanced standard of living, but the adverse trade balance emphasises tlie need for intensified efforts to expand overseas markets,” added tho speaker.
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Bibliographic details
Manawatu Standard, Volume LVIII, Issue 50, 27 January 1938, Page 11
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191LASTING RECOVERY Manawatu Standard, Volume LVIII, Issue 50, 27 January 1938, Page 11
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