COATS OFF IN COTTON SLUMP

Manawatu Times, Volume LIII, Issue 6613, 18 May 1928, Page 7

COATS OFF IN COTTON SLUMP

PREMIER BALDWIN’S ADVICE. Aust. Press Assn. —United Service. Received Thursday, 5.5 p.m. LONDON, May 17. "For every shilling I possessed when I became Premier I have got something under a penny to-day, owing to the vicissitudes of the steel industry.” said Mr. Baldwin at the British Cotton Growing Association luncheon in Manchester. “I only say that to make you feel that I am one of yourselves, concerned with an industry in deep waters, out of which there is only one way out. The steel industry’s capital must come down before better times are possible. All must make sacrifices, even, perhaps, the bankers, who had better have living customers than corpses. Lancashire has always had a thundering good opinion of itself. Now is the, chance for justifying her claim to lead England. You must get together, cut out the dead wood .and clean up the mess due to the boom of 1919. I always have an immense faith that when it comes to mixing brains with business, this old country can beat the world.”

Tho Premier paid a tribute to the success with which tho cotton trade was overcoming the problem of supply by Empire cotton growing. He paid a tribute also to the cotton operatives, the grandsons of the men who tightened their belts and helped to carry Lancashire through the American Civil War, when masters and men stood together repeatedly. The masters should think twice before they sacrificed such a groat record of partnership. England had always been proud of Lancashire and would be infinitely prouder if she took off her coat, rolled up her sleeves, and set to, grimly determined to pull through a timo that would daunt all but the most courageous.