PROGRESS IN BRITAIN

Evening Post, Volume CXX, Issue 8, 9 July 1935, Page 12

PROGRESS IN BRITAIN

Mr. C. L. Dalziel, chairman of the Investment Trust Corporation, London, addressing shareholders on June 5, said:—"l think we have good grounds for satisfaction with the progress of this country during the past year and with the present outlook, but when we look at the world as a whole we can hardly say that the prospect is clearer than it was when we last met. ' The difficulties of international trade owing to tariffs, quotas, and exchange restrictions have been intensified rather than diminished, and the total value of world exchange of goods on a -gold price basis is down to less than' 40 per cent, of what it was in 1929. On the other hand, if we take the figures of the physical volume of this same trade we find that it is still about 75 per cent, of what it was in the year 1929 and is, I believe, actually no less than it was in 1913. This power of resistance shown by international trade is, I think, ground for some real comfort, but until exchange stability is established one cannot .feel very optimistic."' '• : , ' •

Sir Alexander Walker, the chairman, presiding at the annual meeting of John Walker the whisky distillers, said it was: satisfactory again to be- sble to present improved results in spite of the adverse conditions of an excessive excise duty. He was also,glad to report that their export trade had shown a steady expansion throughout the year under review.