CO129-581-16 British propaganda in Hong Kong 18-4-1939 - 29-10-1939 — Page 19

02

19

Economic Conditions.

A good example of British ecomonic recovery is furnished by

the traffic index of cable and wireless communications passing to

and from Great Britain. monthly receipts from traffic, with 100 as the index for the year

The most 1929, before the great economic slump set in. recently published is for Harch, 1939, and at 74.6 it shows an

Revised charges, tanta- increase of 4.1 over the previous month. mount to an all-round reduction in rates, were introduced in April, 1938, and, with the exception of December, 1938, the index-figure for March, 1939, is the highest index number reached since the

revision was effected,

The index numbers represent the estimated

The operations of British building societies afford another illustration of the healthy economic condition of the country. total assets of one of the principal societies have increased by

On the 1st of more than 874 millions in the past ten years. January, 1929, the society's assets stood at 254 millions,

The

but by

the 31st of January, 1959, they had risen to over 3128 millions. During this ten-year period the society has advanced $197 millions on mortgage, this sum representing the aggregate of nearly 339,000

loan operations.

The society's transactions show no sign of falling off, During its last financial year it lent over 320 millions, or nearly

The British building trade double the amount lent by it in 1929.

is actively employed, and the total value of buildings for which plans were approved by local authorities in March this year was 291 millions, a figure which is eight per cent higher than that for

the corresponding month of last year.