COTTON INDUSTRY

Wairarapa Times-Age, 3 February 1941, Page 5

COTTON INDUSTRY

LANCASHIRE LOOKING j AHEAD.

PLANS TO MEET POST-WAR CONDITIONS.

(British Official Wireless.)

RUGBY. February 1

Post-war conditions in the Lancashire cotton industry and methods for dealing with them were forecast in a speech to textile works managers by the chairman of the Cotton Board. Mr Raymond Streak In spite of enemy attacks, said Mr Streat, the Cotton Board was thinking and planning for the post-war period. He considered that at the end of the war there would be a great need of cotton goods in the starved home market. but this market alone would be an inadequate basis for a prosperous cotton industry, which demanded a substantial export trade in addition. Mr Streat said he thought all Governments would have to organise and control exchange for a long time after

the war. Lancashire’s great assets, he said, were her efficiency, trading connections and experience. and though she could not hope to compete with the ‘ rest of the world by wage competition. 1 he was convinced it was feasible that 1 by efficiency, economy and selective s price the cotton industry could pay ‘ good wages and achieve a satisfactory •‘ volume of exports. The Cotton Board's plan for the i future he continued, was based on ’ Government assistance by way of trade • pacts, export credit. Insurance 1 and ■ foreign exchange arrangements and • price control which he thought would i be necessary to prevent excessive ' prices during a shortage and selling at a loss when the market was weak! In i return for managed prices, he said the ' producers would have to sacrifice some ‘ of their former liberties. Mr Streat said the greatest atten- : tion would have to be paid to technical progress and invention must not bo neglected through a conservative nul- ! look or the opposition of vested in- ' tcrests.