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).