TARIFF REVISION

Hokitika Guardian, 13 February 1931, Page 8

TARIFF REVISION

- —< — OPINION IN UNITED STATES Some interesting impressions of trade conditions in Canada and tbe United States were formed by .Air R. B. Tingev a well-known business man of Christchurch, who returned to New Zealand by the Alakura after an extensive tour of North America. In \ r aneouver, Toronto, and Montreal, Mr Tingey said, business managers of the largest retail stores told him that, despite the present world trade-price depression, merchants were only down in their turnover from 17 to 20 per cent. They saw prospects of a revival of trade in the spring, and thought that il would take about two years before things were back to normal. NEAV ZEALAND BUTTER DEMANDED. AVlien in Vancouver, Mr Tingey met Mr AA’oodward, president of the largest general store there, and handling large quantities of New Zealand hotter. Air Woodward considered that his sales would not drop to any great extent, because the New Zealand butter that he was handling was of such exeellent quality. His customers demanded New Zealand butter because as far as quality was concerned, Canada could not touch it. “In New York and in the eastern cities a depression does indeed exist,” Mr Tingey said. “There are many signs of it everywhere. Nearly all the factories which 1 visited were working on half-time and on reduced wages. In New York 1 witnessed the run on the Bank of the United States, which has 61 branches in New York, having deposits of 220 million dollars, with 400,000 depositors comprised of wage-earners and small factory owners. On December 10 1 saw a queue outside one of the branches,,about half a mile long, being regulated by the police, waiting to withdraw deposits. AA’lien the hank announced that it had closed its doors, the poor people were frantic. The Christinas trade in New York was very poor indeed, and the United States Bank could to a. certain extent he blamed for it. REVISION OF TARIFF.

“Right through the United States every business head realises that the Government has overdone the tariff of June, 1930, and there is a loud cry to have a general revision, with a reciprocal tariff arrangement with foreign countries. It is considered that the United States foreign trade has no hope of expanding until’this has been tackled.

“AA’ith all its riches and holding 60 per cent, of the world’s gold, I have never before seen so many starving peo" pie as I did in America, In New York at 11.30 one night there was a queue in Broadway, opposite the Roxyjffieatro. a mile long, each person waiting to receive a pannikan of hot soup. One cannot walk a few yards in any large city in the United States without being asked to help a poor fellow with the price of a meal.”