FOREIGN TRADE: The Great British Problem

The president of the American Chamber of Commerce in London, Wallace B. Phillips, returned to Manhattan last month to plead that the U.S. understand why Great Britain must continue the policy of "Empire preference" in her trade after the war. The short, chubby head of Pyrene Co., Ltd. thus gave many a U.S. citizen his first clear glimpse of Britain's major postwar industrial problem: how to in crease exports at least 50% above pre war levels.

For the three years before the war, United Kingdom imports averaged £930 million, and visible exports £540 million.

Her investment income of £200 million, plus...

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