DEVASTATED TRADE.

Press, Volume LIX, Issue 17854, 29 August 1923, Page 9

DEVASTATED TRADE.

YORKSHIRE WOOLLENINDUSTRY. j EFFECT OF FRENCH j COMPETITION. If~f ABI ' i! ~ rESSS -"SOCJATIOX—COPTRIGHT.) UMTSALIA2C AND K.Z. CABLE ASSOCIATION) LONDON, August 27. A special writer of the ''Daily Express,'' in a Bradford article headed "Devastated England: Bradford Invaded by Roubaix," writes:— I have just seen a Uradford house j with shelves and roams |>acked-full with rolls of French textiles. One of the most patriotic of English merchants tells me that he is forced against his will'to buy French cloths. Travellers for local houses are all returning, declaring that it is useless to show samples. No retailer will look at Bradford cloths, seeing that the French manufacturers, owing to the exchange situation, can undercut Us by a shilling a yard or even more. Bradford is becoming one of our devastated areas. "Australian buyers for the first time in history are clamouring for products from Roubaix and Verviers. Bradford is perhaps more supreme in its art than any manufacturing centre of any country. Bradford's quality now, as for .1 century, is still unchallenged. Those wanting the best cloth, worth seven shillings a yard, must still go to Bradford, but for all cheaper lines, particularly women's wear, the Yorkshire manufacturers are quite out of the picture. The Roubaix workers are throwing Bradford workers out of employment, as surely as if they were devastating the city with howitzers. "The reason the home market is failing is perfectly clear. Our heav-ily-taxed people demand cheap wares. The Continental manufacturers, with low taxation concealed under Government subsidies, and above all the low exchange, and having through their tariffs complete control of their own home markets from which they pay all overhead charges, can descend upon the British market like a wolf on the fold. '.

"Many British towns have adopted French towns and villages in order to help make good tho devastation caused by the war. Now in another sense the French towns have adopted the trade of British towns." | SIR ERIC GEDDES'S VIEWS. Addressing in London the annual meeting of the Association of Trade Protection. Societies, of which he is president, Sir Eric tjecldes recently discussed the European situation in relation to trade. He said the improvement in the trade of Britain had been retarded during the first quarter of this year, and suggested that the reason for this was to be found in the advance by the French into the Ruhr Valley and the unsettled state of Europe. The situation in the Ruhr would have a damaging effect on the purchasing power of the three countries concerried, Germany, Franco, and Belgium, and its result would b.nve ultimately a damaging effect on all the markets of the world. As a result of the currency depreciation it was found that such purchasing power as existed in certain countries was being expended in trade relations with another country with a. depreciated currency. For instance, goods which this country used to supply to Italy, Holland, and other countries were now being supplied by Germany. Tho German workman to-day on a depreciated currency could produce an article at a lower labour cost than could the British worker. A comparison of the labour cost of specific articles in various countries showed the ratio to be Germany 2, France 4, and Great Britain 6: .and this was not duo to the increased efficiency of the German or French workers. The British comparative efficiciency was higher, otherwise the discrepancy would be much, greater. Not only, therefore, was it impossible for European countries w.ith their depreciated currency to buy as much as they used to, but they were actually induced to huy from each other, to our detriment.

Tins more fnct that there was no settlement in Europe w<is costing Britain enormous sums, although we were not taking an active part in the operations of the Ruhr. Our trade with Europe was _ dwindling, and was bound to dwindle more. If once wo could get stabilisation, even at the present rate of exchange, raw material would bo bought on a stabilised rate. Having regard to the fact that this, country was bearing the interest on the loans made to our Allies during the war. and to the fact that tlie present, improvident and urisettled condition of Europe was directly causing unemployment in this country, he asked: "Are we justified now, or indefinitely, in continuing in the role of a benevolent butmore or less disintoi«&ted and disassociated onlooker in the action of our friends?" Germany should pay what she could pay, and reasonably pay, and ho appealed for a round-table talk with Germany on the question of reparations. It was no good holding a pistol to her head. We ought to talk that way to France. "Franco and Belgium are in the Ruhr," he said. "We seem to be nobody; wo do not seem to be worthy of consultation which was not the ease in 1914, 1915, and 1916. Mean-1 time our unemployment is going on. We have a right to talk directly to France as a partner' in a business."