Foreign News: Business Conditions

Sir Arthur Balfour (not to be confused with the Rt. Hon. Arthur James, Earl Balfour), President of the Association of British Chambers of Commerce, said (in an interview) that he " would not change England's position for America's at present," and that " fundamentally the British situation is much sounder than the American."

Sir Arthur based his contentions on the effects of high wages, high cost of living and high cost of production, and the fact that the Fordney Tariff is restricting trade between the TJ. S. and foreign countries.

Said he: "I am certain that, except in a few selected articles, we can compete with them for the export trade of the world." He also claimed that the Fordney Tariff requires U. S. farmers to pay $800,000,000 more for "their machinery and general farm requirements."

Sir Arthur Balfour is a native of London, 50 years of age, and is a prominent figure in the Sheffield cutlery business.