HOW TO RIGHT THE TRADE BALANCE
[To the Editor of the SPECTATOR.] was greatly interested in the article in your last issue,
Row AO. Right the Trade Balance," by Sir Arthur Steel- Maitland, which I think gives a very clear and able exposition of the present position and the best remedies to be applied. Amongst these an increase in exports comes first.
This can best be effected (after seeing that our manufactures are offered at competitive prices) by doing what we can to assist to increase the buying power of our customers. They are largely composed of the debtor nations whose production and exports consist chiefly of raw material and food, and as at present they are obtaining prices which hardly cover the cost of production,. it is essential that a rise in the price of commo- dities should be engineered if the world is to return to pro- sperity.
Among the various methods suggested to attain this end none to my mind offers such a ready and probably speedy way to success as the rehabilitation of silver, and I sincerely hope that the movement in this direction which has recently been started will be pushed on with vigour.—I am, Sir, &c.,
JOHN GREIG
(Retired Eastern Exchange Bank Manager). • Rosewood, Ascot, Berks.
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