arate: mene
The profits on last year's operations announced by the Westminster
and the Nationnl Frovineinl record a drop in lino with similar
CS WOLC g Like Lovde Sg
EX
ate
a by the other banks -— Westminstor's profit down “6h while Nationel Provincial dropped 2%, slig like this at a time of goenoral cxpansion and rising prefits appear to provide circum stantial confirmation of the thesis that there are diff orene interests
cL ray
within British capitalisn and that certain contradictions iat hetween them, Banks and some othor financial institutions sppenr to flourish during pericds of "res aan and stagnatione one factor is, of course, thet these are periods of high ben rate. Consumer orientated indus
Acie
tries on the contrary oneountor rising costs durin, "squeezo" pericds and, of ¢ CORE Sey incroasing sales, lower unit scoasta and high profits during periods of expansicn.
been the City int:
veury Offi 1:
n put above that
Lest se
Until very recontly it has have ne 2nd the car of the Chancollore and Tr rests of "sterling" (i.e. the City) have bus