The Cotton Trade The resolutions passed last week by the
Joint Com- mittee of Cotton Trade Organizations do not, at first glance, suggest a clarion call to rally the hard-pressed defenders of a beleaguered garrison to their posts. Yet that is what, in effect, they arc. Though it has taken nine months to produce them, and though they have a rather platitudinous air—since experience has long made obvious the evils they now officially recognize—no one should be blind to their very real importance. They mean that the first step has been taken by the trade as a whole to face the problem of surplus capacity which is at the root of almost all its troubles. The Cotton Mission, just returned from the Far East after examining the situation in China, declares that " unless radical changes are made there is no hope of Lancashire " increasing her trade in the markets of the East — indeed, until she can offer her goods at competitive prices, she will continue to lose ground."
Previous page
