INTERNATIONAL TRADE

Press, Volume LXXII, Issue 21909, 9 October 1936, Page 12

INTERNATIONAL TRADE

+ NOTICEABLE RECOVERY

VALUE OF NEW CURRENCY AGREEMENT

International trade is definitely improving, and in the case of Great Britain and North America with a rapidity not often realised. This view was expressed by Mr lan Bowater, a director of the British newsprint manufacturing firms of Bowaters and Edward Lloyds, in an interview here yesterday. It was the general impression formed by him in recent travelling. “The new currency agreement between France, the United States, and Britain will inevitably add impetus to the upward ‘movement in trade,'* said Mr Bowater, “as will also the abolition of quotas and currency restrictions. which have done more than anything else to hamper international business.

“On my way to New Zealand t spent a fortnight in Canada,” he said, “in which time I had the opportunity of meeting the leaderj of the Canadian paper industry, which is the largest in the world, and of discussing with them the general trend of business, in particular in relation to newspapers, advertising, and newsprint. I was particularly impressed with the degree of recovery which was already experienced by paper mills in Canada, whose interests are directly affected by the business recovery in the United States, entailing as it does an increased volume of advertising.”

Mr Bowater mentioned that th.re had recently been a merger of the firms of Bowaters and Edward Lloyds. This had given the joint Companies control of about 60 per cent, of the newsprint output ,of Great Britain, which was approximately 600,000 tons a year.