THE FINANCIAL OUTLOOK

Poverty Bay Herald, Volume LV, Issue 17231, 10 April 1930, Page 13

THE FINANCIAL OUTLOOK

COMMENTS OF ENGLISH BANKER Some observations relating to the general financial and trade outlook were made -by the chairman of Barclay’s Bank Ltd., Mr. F. C. Goodenough. at theannual meeting of the bank in January. The bank, incidentally, showed a profit of £2,33,1,589 for the year. The chair-, man said that as regards the immediate future monetary conditions in the London market should be easier, at all events for a time. It was difficult to sav whether a. state of normal equilibrium had been reached, or whether we were still liable to suffer from the lifter effects of the exceptional international monetary disturbances of the past few months.* During the year there had been some improvement in industry and trade, notwithstanding the difliculties arising out of monetary conditions. Exports of British goods showed some increase. There had been also many other favorable features. A iurther stage has been readied towards the settlement of the (reparation problem. Although the wave of speculation in New York was in itself unhealthy and unsound, and created a shortage of credit throughout the world as long as it lasted, the crash which had resulted should prove, to be 11- 1 enefd both to America and the rest of the world, as more money would he released for economic development and for expansion of inflpatry and world trade. There should he a better outlook for industry in the present year, although there were factors which created a gregt deal ot uncertainty.