The following figures are intended to illustrate the arguments set out in Chapter II. concerning the future course of British overseas trade.
Note—During 1928 Great Britain imported £58,000,000 of bullion and|
specie, and exported £51,700,000. If this is included, the adverse balance
becomes £359,400,000. For 1927 the corresponding figure is £389,700,000.
Observe (a) the sharp rise in net imports in relation to exports of British goods; (b) the fall in the real value of re-exports; (c) the fall in the real value of British exports; and (d) the immense rise in the visible adverse balance of trade.
|1 The general index of wholesale prices on the same basis works out as|
follows: 1924, 100; 1928, 84.4; 1913, 60.2 (Board of Trade index).
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Publication information: Book title: The Next Ten Years in British Social and Economic Policy. Contributors: G. D. H. Cole - Author. Publisher: Macmillan Company. Place of publication: London. Publication year: 1929. Page number: 437.
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