21 OCTOBER 1922, Page 48

Even after allowing for the fact that comparison is with

a period when we were suffering from the great coal strike of 1921, the Trade figures for September are satisfactory. The value of Imports, namely, £77,000,000, was i:lightly under the total for the previous month, but the Exports, which amount in value to £69,000,000, showed an increase over the preceding month, and a still greater increase over September last year. Moreover, the excess of Imports over Exports of £8,000,000 con- stitutes the most favourable showing for some months past, and, if allowance be made for invisible exports in the shape of freights and interest due to us from other countries, there can be little doubt that the Trade balance for September was really in favour of this country.