MUCH TOO BLACK

Evening Post, Volume CX, Issue 101, 26 October 1925, Page 7

MUCH TOO BLACK

PICTURE OF BROTISH TRADE

A STEP IN INDUSTRIAL

EVOLUTION,

(BNITED PRESS ASSOCIATION—COPXBIGHT.)

(iUSTRALIAN.NEVr ZBAMSD CABLE ASSOCIATION.)

(Received 25th October, 8 a.m.)

LONDON, 24th October. Sir George Hunter's pessimistic remarks, about the country's trade are dealt y?itih in the •"Westminster Bank Review," >yhich says: "The picture, as a whole, is painted much too blackly* If Sir Geouge Hunter."had been equally familjar .with conditions, in .districts like Coventry, as ho is with North-eastern England,- his outlook would certainly havo been modified." The "Revie>y" points out that the latest annual analysis of nearly 1500 British limited companies sho\ys, on an, average, that profits increased -during last year, and recent calculations; place the volume of British production during 1924 as 85 per cent, of that of 1925, compared with 80 per cent, of 1931, and 95 per cent, of 1923. The -'.Review"' proceeds to make tho suggestion that Great Britain may have to attack the problem of foreign competition in trade by making a fresh advance in ;the direction of industrial specialisation.. That is. we may have to dovote our .energies less to the cruder industries which foreign countries can carry on .successfully tocally with their o.wn'resources, and more, to finished processes in -vvMch our position is unchallenged. The- writer adds: "The process of transition may be painful in some respects, but we shall be advancing a stage further along the path of' economic evolution."

Sir George-Hunter, head of the great shipbuilding firm, Swan, Hunter, and Wighani, wtolo to Mr. Baldwin suggesting that the inquiry into coal mining was not enough. The situation .demanded tm lmmcdipte comprehensive inquiry into the economic position of the whole country's industries. The future of the British Empire- "was at stake. Shipping W as becoming more and more depressed, aud ships worn increasingly lying up. The iron and steed trade was largely idle, and the shipbuilding yards were' closed or closing. He concluded: "Wo arc not on the ro#d to improvement. Wo appear to be on the road to ruin.