Excerpt from Commercial Intelligence Journal, Vol. 28: January 6, 1923
London, December 15, 1922. - The commercial barometer marks a slight rise, and several developments which have occurred quite recently have tended to improve the outlook.
Causes are the result Of the general election, and the consequent replace ment of the Coalition by a single-party Government with an absolute and con siderable majority; the substantial relief to unemployment by the adoption of extensive Government schemes which will also incidentally give work to British factories; a slight increase in activity in home trade; the definite settle ment of Irish autonomy; and better prospects Of the satisfactory arrangement of affairs on the Continent. Signs are the phenomenal jump in the value of the £1 sterling, as indicative of the greater stability of British credit, and the largest monthly foreign trade returns for some time past.
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