Finance—Public and Private
Better Trade Figures
AT long last there are not wanting some signs of a turn in 'the tide of our foreign trade. For so many years it has, been necessary for me to comment adversely upon the figures of our export trade, that I am only too thankful to be able to take note of the somewhat better conditions disclosed in the official figures for the month of November. In doing so, however, I am bound to deprecate the attempts made in some quarters to treat this modest improvement as though it were the begin- nings of a trade boom, and the public will do well to note that in making a comparison with a year ago we are comparing with the abnormal period of the coal stoppage, while even if the figures of 1925 are taken it should be carefully noted that November in that year was a particularly poor month as regards trade, owing to the unsettlement which already existed in the coal industry.
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