THE SLUMP

Grey River Argus, 30 November 1920, Page 3

THE SLUMP

WORKERS VINDICATED. -'» THE TRADE SLUMP. ( LONDON, November 26. Many journals are ; conducting a campaign of cconothy, arid' are announcing 'fhe' Government's waste as the cause of the' trade slump and the threat 'of ' widespread unemployment. Production has "been reduced riot bo^ cause of the Avbrkcrs' slackness, but because no capital can be obtained at reasonable interest. Advances from banks arc difficult to secure, bearing out Mr. McKenna's statement that no more *; credit is available because the Government . has absorbed all the credit. - Vagraricy is increasing in Yorkshire arid" Derbyshire, and uneiriploymcnt* is general in Burnley. " Germany is selling cutlery in Sheffield below the - local ; manufacturing cost."' Ooldnial" orders arc going to Germany;'- 1 '•-'•" ■'■' -! -—-■•- ' Nottingham' lace, hosiery* and curtain plants' are idle. '"' ' - . ' The Government* indicated its' recognition of SJ . the 'popular feeling by recerit modifications : of " costly domestic legislation, 'the ' decision' 'to 'economise in the 'Middle East,' arid' the ' rcstofation of trade with '^Russia. The Estimates. are severely criticised, especially those for the Navy, in view of the world position, and the obliteration of the German menace.