RECOVERY IN BRITAIN.

Wairarapa Age, 10 August 1935, Page 3

RECOVERY IN BRITAIN.

SOME INDICATIONS OF PROGRESS. RUGBY, August 8. The greater prosperity of the country is reflected in the holiday expenditure this year. There are various indications that it has reached higher levels than previously. The railway traffic returns are an example. The total receipts of the four main line railways for the week ended August 3 were £3,944,000, an increase of £13,300, or 3.5 per cent., compared with the corresponding week last year. The increase in passenger receipts is 5 per dent. A Bank of England return issued today shows a rise in the note circulation of £3,500,000 to a new record of £411,800,000, following a similar expansion last week of nearly £7,500,000’. The record circulation, attained last Christmas, which is usually the peak of the annual curve of note circulation, was £408,261,857. While the new peak is chiefly accounted for by holiday expenditure, the underlying tendency of the note circulation to expand emphasises the recovery and the returning confidence. This improvement is further illustrated by the growth of new capital issues. The total • of £53,900,000 in July brought issues of new capital during the first seven months of the year to £139,900,000, as compared with £85,000,000 and £75,300,000 respectively in the corresponding periods of 1934 and 1933.—(British Official Wireless.)