Looms Could Be Stored
Mr. A. H. Crowther, a former president, outlined the proposed scheme for dealing with redundant machinery to members of Burnley Textile Society in the Merchants' Institute lase week.
Ile said that the causes of the decline in the cotton industry were lack of purchasing power among the people, econemie nationalism —countries manufacturing their' own goods—and competition from countries which had not been manufacturers in the past.
He did not think that any great increase in the export of cotton goods could be expected,. but there was a necessity for adapting the industry to new conditions Various schemes had been suggested, but he thought the proposed redundancy scheme would he the most successful.
The scheme would bring into operation a redundancy hoard. which would have roWers to acquire mills, looms, and other machinery.
Some of the looms could be held in storage for a period of six to twelve Months to give manufacturers with older machinery a chance to exchange their machinery fet that which the board possessed,
Mr. Crowther added that a levy ol approximately one penny a loom per week would be made for a-period not exceeding fifteen years to pay for the work of the board; the interest and sinking fund or the money borrowedfor the scheme.