GREAT DISTRESS

Rotorua Morning Post, Volume 2, Issue 370, 3 November 1932, Page 5

GREAT DISTRESS

(Press. Assn.-

u.s. conditions AMERICAN PEOPLE FAIL TO REALISE THE POSITION . HEAVY UNEMPLOYMENT

— By Telegrapli — Copyrlght).

Rec. Nov. 2, 5.5 p.m. New York, Nov. 1. The Australian;- Press . Asso,ciation interviewed Mr. Sheldon, f ormer. Australian Trade Commissioner, whe^is leaving for England from Boston on Saturday, following' . an American business trip. He said that coming "across the continent, the further east one gets the .greater one finds with a shock, the distress due to econoinic dissoiqtion in the United States. The general body of the people have not yet real-, : ised that America cannot be prosperous with the rest qf the world in difficulties. ■ ; Leaders of commerce, industry and finance see that. one of three things, or a good deal of each, must happ.eri before the restoration of norjnality, namely the revision- of inter-Govern-mental duties, the lowering of tariffs and the resumption of further advances abroad. It would be idle to say that any one of these steps is yet .generally acceptable. One must remember that probably 12 a per cent. of the wprking population of the country is unemployed. To get these men back to work there must be a greater division of labour, further readjustments of prjces and wages, and continued deflation in hitherto accepted standards of living.