A Hope for Cotton An important step has been taken
in the spinning section of the Lancashire cotton industry, the General Committee of the Federation of Master Cotton Spinners having so far endorsed the reorganization scheme fathered by their State of Trade Committee as to send it out to all spinners of single yarns in Great Britain and Northern Ireland for their consideration. The scheme. is one for regulating production and prices, and also for reducing the • surplus of redundant plant. It has the support of the banks, and does not exclude eventual recourse to the Government for statutory powers of compulsion. .It will be an advance, if it goes through but it will not by itself, of course, restore Lancashire. A comprehensive report on the whole problem by " P.E.P." (Political and Economic Planning) deserves careful study for its realism and thoroughness. The "P.E.P." report -examines carefully what each branch- of the industry should do and brings out the need for overhauling all of them. So far as it attaches primacy to any one line of reform, it is to the reform -of mer-. chanting.
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