POST-WAR, PROBLEMS.

Otago Witness, Issue 3395, 9 April 1919, Page 18

POST-WAR, PROBLEMS.

(By Cable.) LONDON, April 2.

The Press Bureau states that, with a view to preserving capital for domestic purposes within the Kingdom and preventing an avoidable drain upon foreign exchanges by the export of capital, the Treasury has appointed a committee, including Lord Curdiffe (chairman), Sir Arthur Lawley Robertson (Agent-general for Queensland), and Mr Robert Littlejohn, to* advise «pon applications for licenses for fresh issues of capital. Under the Defence of the Realm Regulations (30F), preference is given, other things being equal, to cases in which the proceeds are to be applied in overseas dominions. Mr F. R. B. Denniss, M.P. for Oldham, in an interview, said that extensive Lancashire clothing mills were closing on account of the restrictions on exports, which were preventing the influx of money. Sweden, Denmark, and Holland could absorb several million pounds' worth without there being any leakage into Germany. Japanese cotton goods were selling in England below Lancashire prices. Manufacturers are urging the Government to improve* the cable service. They complain that the delays prevent the stabilisation of the price of raw cotton. In the House of Commons Mr Bridgeman, Parliamentary Secretary of the Board

of Trade, stated that the Board of Trade desired to remove the restrictions from exports at the earliest moment, but great difficulties existed in countries to -which .we wished to export. The Government was settling its general import policy before September 1.