BANKS AND RECOVERY
STR —In his letter appearing in your issue of July 2nd, criticising a public service for dilatoriness, Mr. F. Ward concludes his remarks with the charge that the banks also are "doing all they can to impede economic recovery." Obviously, Mr. Ward's view is not that of an informed person. Advances to the public in the past year have risen by £250 millions, and a large proportion of these have been made directly for the purpose of economic recovery. One instance alone may be taken, arising from the agreed fact that exports are now of first-class- importance to economic recovery. In this respect the banks are rendering outstanding service to exporters, while, if the entire range of banking services are reviewed, it will appear absurd to bring such a charge against the banks.—
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