"AMPLE RESOURCES."

Hokitika Guardian, 21 November 1923, Page 1

"AMPLE RESOURCES."

LONDON. Sent. 'll. I Vll -.trunner proof Germany's fraudulent. bankruptcy could be supplied iii;m i- contained in a Inter received liy the Association ol British (. Im nilaors of (‘laimiei'ce from .Mr George Man', 'eerclary of [lie British Chamber of C’oinMl eive. Brazil. .Mr Mart', writ iHi£ from llio do Janeiro : German linns iit Brazil show no lack nf ea|iiial. On Lite contrary. we are assured that these German houses have lerv ample resources. They are cortainly it hie to oll'er longer credits titan units in the fiiitetl Kingdom tat re to give ami to entertain hii'iness refused by others. j All considerations indicate that Oer-f man iirttis here are not only themselves i liliiiltcially sound hut they are uell slip-i j >urt.od by German manufacturers and j others whom they represent. German hank' oiler aitraetivve rates

lor deposits and exchange business. Needless to say the Germans are doing no hti-ines on the basis of the mark. The feeling generally expressed here is that Germany hit' plenty of capital at Iter command tit other countries. Complaints have aKo been made that German goods In imitation of British articles are out on the market, and a case was recently brought to my knowledge where it: was stated a Hrilish maker's stamp was placed on German goods supplied at half the British maker's fixed price. It is believed that

such eases are not uncommon. British prices .-still remain for the most part higher than tllose of our European competitors. Ihe question ol prices is very intimately associated with taxation, and it is felt that so long as the Germans escape the burden of heavy taxation, taxation will be low itt all European countries, and British competition in foreign trade will become impossible. Any proposal that Germany should be helped to pay by being assisted to develop her industries is suicidal. Brazilian statistics show how Germany is recovering her trade with tilt' country. Germany also is gradually restoring her shipping services. Germans here are not remitting the proceeds of their business to Germany ; thov are either accumulating funds here or remitting to London or New York or other suitable centres..