EXTREME DEPRESSION AT HOME

Dominion, Volume 2, Issue 399, 7 January 1909, Page 8

EXTREME DEPRESSION AT HOME

;■ : --j" TIMARTJ. BUSINESS MAN'S ACCOUNT. . iBI TELEGKAriT.-jSl'nciAL COUUESrONDENX.J ; Christchurch,' January 6. - •: Mr. J., Lillico, managing 4irectb"r of the Sputh Canterbury .Woollen' Mills-,, has returned 1 tp; 'llmaru from;;ar;lengtliy-trip, to Britain ahd Kurope, and to a- Timaru reporter yesterday jhe- gave account of- the. .industrial; depression at'-presept'-preyailing- in' ,-the,, United .Kingdom'> The country,!' 'he--ssa j vs,'. "was n?ver.in a worse, state than' it has been during itheUast rsix ; mpriths,f'pnd, from one end of Britain; to .'the lo'tKer ,V- : every; class' .'of :-m^ufacture':is-in a; stji'te ; of '-stagnation. In every ouo of-,-tho largo ccntres there are 'thousands of unemployed, : and thousands of ' people are starving.■ The repdrts' rticeived by New; Zealand newspapers fail to convey an idea of the-heart-breaking scenes that are (witnessed every day.'/, Thb- depres,sion has !been attributed : .pritbarilyi.to. -the ■'tightness of money,: arising, outrof , can crisis, and-while this, probably-has '.something to'. do; with it, • real' explanation is ; to bo found in- the : policy of- dragging-along under the old conditions of working with 'the old class'of machinery good .eiiough: for their predecessors thirty_ years ago.; ; The result is that:t-lie United.Kingdom, is now a dumping;'gjo"und for.ihe of, America ■and of other •countries! a less, extent; a^ are' thrown out of employment, and are- unable to buy' even-the cheap imported goods." !'; ■.- iviMr: Lillico; added;.that;• he -felt, assured that' }Mr.: Chamberlain's protection policy must bo ■Adopted bofpre .lon'g,,and .this was the only •tiling whicl),,would,-, effect.';, ! ;any .>'pehnanent ; ,of,, conations.