TRADE RECOVERY.

Hokitika Guardian, 26 January 1922, Page 1

TRADE RECOVERY.

PROSPECTS IN BRITAIN. MR C. P. SKER RETT’S OBSER--1 VATIONS. WELLINGTON, Jan 4 24. 3 Among the passengers by the Tahiti 1 from San Francisco on Saturday ‘was 1 Mr C. P. Skerrett K.C., of Wellington, returning after spine seven months’' absence'on a visit to the Old Country. \ Pairt of liis sojourn there’ was spent * in shooting in Scotland, and on his return journey Mr Skerrett was about a ' month in America. As in these difficult L times there is considerbale eagerness on ' the part of the public at this side of the 1 world to hear from the mouth of a re--3 turned traveller what is really going ' on at the other side, Mr Skerrett) was > asked by a “Post” representative for bis impressions on such important cpios- ’ tions as trade recovery in England. ’ "My visit was purely a private one,” 3 said Mr Skerrett, “and I had no access 1 to any special sources of information or 3 knowledge. Any opinion T have formed must therefore b ( > the result of mere individual observation and information ' derived from a hundred and one casual ' sources. I cannot help thinking, however, that. Britain will be the first country to emerge from trade dopres- ’ sion. Britain has begun to build up instead of, as during the war. tearing ‘ down. Although since the Armistice 1 progress has been disappointingly slow, 1 yet substantial progress has been made. The prices of raw materials are being ' stabilised, and the confusion necessarily ' entailed in constantly falling prices of articles essential for manufacture is beinrr eliminated. The rate of interest paid on capital necessary for employment in reconstruction has greatly ex- ! ppeded tho pre-war rate, and the dangers of attracting the investment in Bfvemment loans of capital need'trade development have been fairly ex- - erhplified. Nevertheless, determined and well-directed efforts are being made towards reconstruction, and the feeling is gaining ground, even in Labour circles that the welfare of all classes of the community can ho served only by the more efficient co-operation between employer nnd worker. “As to revolutionary propaganda,” continued Mr Skerrett. “there can he no doubt that despite the great efforts of the revolutionary protagonists, the doctrine that tlie millennium will be created, ipso facto, by the destruction of the existing economic system, has lost its savour. There is a growing disposition on the cart, of the worker to appreciate in his own interests the necessity for efficient production and the elimination of strikes, the ‘go-slow’ system, and the constant ‘pin-pricking of Capital. “The aren't obstacle to the restoration of English trade is the oxtraordinnrv position of Northern and Middle Europe, end particularly Germany., was Mr Rkerrett’s observation. It. is recognised that until these nations seriously grapple with the problem of their hucelv inflated; paper currency, the European markets must he largely closet to English manufacturers ami producers Among English traders there is a strong disposition to assist even financially in tb p solution of this problem, so as to re-create a very desirable market for manufactures and America appears fearful of being asked to make some financial sacrifice to assist towards that end, and there is a tendency to decline to take pait in nn> conference to devise means of stabilising the currency. Yet America is as vitally concerned in th P Emblem as England, nnd her attitude is difficult to understand. New Zealand interests are bound up with those of Britain, and though it cannot directly influence th restoration of the Empire s trade, ean greatly alleviate its position, by m- I creased efficiency in production. the j elimination of stoppages of work and i strict economy in both public and private life. _____