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Manawatu Herald, Volume XL, Issue 1920, 28 December 1918, Page 4

“The people who look upon the ! ml of the war as the beginning of :i. millennial will be disappointed,’ >aid Mr T. S. Weston, at the annual conference of the New Zealand Employers’ Federation. “New Zealand ■ms enjoyed steady prosperity during the past four years. Now, however, the world will have to lace the ■oonomic competition of Germany 11 ul Austria, whose popnlaoe must be content with a low standard ol ■iving ami small wages, and of Japan, who Ims accumulated large slov--s of capital, and is opening tip new avenues of trade, as a direct vc-atl! d the war. To meel this competition. highly paid workers must leant that high wagc> require to be ac■ompanied by bigb efficiency, Km'loyers also will have to recognise hat methods of management and nunufaclure must he constantly renewed and brought up to dale, and nay have to he content in some industries with a smaller return for -apilal than they have enjoyed in nore prosperous times, A (dose -t-idy of Taylor’s works upon indns11■ i; 1 1 efficiency and ol' the working rf American industries will well rcoay both employer and employee, md enable (hem both to improve I heir earnings."