BRITISH TRADE GROWS

Sun (Auckland), Volume III, Issue 656, 7 May 1929, Page 9

BRITISH TRADE GROWS

REVIEW OF CONDITIONS AND PROSPECTS STEADY UPWARD TREND British Official Wireless Reed. 11 a.m. RUGBY, Monday. Sir Philip Cunliffe-Lister, president of the Board of Trade, reviewed, In the House of Commons the present trade conditions and prospects. He said that taking 1924 as the base year, the exports in 1928 were up 4.6 per cent., and manufactured exports were up -7.8 per cent. If one took the first quarter of this year and compared it with the corresponding quarter of 1924, the total exports showed an improvement of 9.2 per cent., and manufactured exports were 14.1 per cent, better. Industrial production generally was up 5.2 per cent, in 1928, as compared with 1924. If one took manufacturing production the -increase was 9.2 per cent. These facts showed that trade was steadily taking an upward trend. Referring to cotton, Sir Philip Cun-liffe-Lister said that when the American section of the cotton trade had set its house iu order and put forward a scheme of reorganisation which really faced the facts and dealt with buying, manufacturing, and selling, it would be in a position to demand all finances it required, and the Bank of England would be ready to lend it money up to £2,000,000.