A DEPRESSION.

Manawatu Standard, Volume XL, Issue 7921, 29 September 1904, Page 4

A DEPRESSION.

A great deal lias been said lately as to a probable depression in this colony, and it is therefore refreshing to read the opinions of the public men who hold optimistic views on the subject. Among the number is Mr T: Mackenzie, M.H.8., who,in a recent interview, said, "I cannot be led to believe there is any grounds for anticipating a slump, unless, indeed..

it is brought about by sheer lack of selfconfidence. Of course the calling in of loans by the Government must have an effect on the total sum available, but I hardly think that anything like a slump will be justified. Our wool, mutton, and dairy produce are selling well, and we must stoutly maintain our-position on the world's markets., Many people run away with an idea that there is no limit to the best markets. It is a mistake. There is a limit even to the meat market, and unless we keep in the premier place we will, find that one of our competitors has usurped our position, and has shouldered us out. Once out, it will be hard to get in again." The conversation turned to the American invasion, and Mr Mackenzie related several instances in his own experience where energetic Americans had ousted the slower Englishmen. English manufacturers, he said, insisted upon colonials taking what people in England thought they ought to have. A New Zealand farmer wanted to obtain an English farm implement,; but asked; that the seat should be placed on the side opposite to that on which it was usually placed by the firm that made the implement. The request was sent to the firm's headquarters in England, but it was decided that the farmer must take the regula : tion pattern, with the seat on the usual side, or get another machine. He chose the latter course. An American firm ■would have put the seat at any any spot desired. " The Englishman has a splendid article," Mr Mackenzie says, "but he is very slow'in pushing it;" ''..