NO NEED FOR ALARM

Sun (Auckland), Volume IV, Issue 996, 12 June 1930, Page 12

NO NEED FOR ALARM

DOMINION’S FINANCES GOOD STANDING ABROAD 1 ••New Zealand should look carefully i to the future, but there is no cause for alarm, judging by the position in Eng- . land and the Continent,” said Mr. H. I T. Merritt, past-president, at a lun- . cheon of the Auckland Chamber of ■ Commerce today, in a talk on the in- ; dustrial situation in England. Air. Alerritt stressed the fact that : his remarks merely gave his impressions and must: not be looked on as ! the outcome of long and detailed I scientific research. Ho had been greatly impressed by : the increase in traffic in England and j the new and improved methods of j transport. By-passroads lmd been constructed to take traffic from the overcrowded main routes and proved of wonderful benefit although they took much from the charm of rural England. A tremendous flying park had been established within the city limits and men are able to be in the air a few minutes after leaving their business houses. The tube, too, had done much to benefit transport, said Air. Alerritt, who had been impressed greatly by the volume of traffic carried daily. London was growing rapidly, and huge areas were being built almost overnight. The city appeared outwardly to be prosperous and there were few unemployed to be met, but this gave altogether a. wrong impression as hundreds of thousands were living in the poorest of circumstances. “Industry is really going from bad to worse.” said Air. Alerritt. The iron, steel, coal and other industries were going through trying times, and the cotton trade was also in a bad way. Trade was dwindling rapidly in the latter and passing into the hands of other countries, including India and Czechoslovakia. Many firms had been ruined ! through the growth of Continental trade. The British manufacturer was receiving buffets on every hand, the Chancellor of the Exchequer taking all he could and workers demanding a good wag© and short hours. “I cannot believe the creative genius of Great Britain is dead,’’ the speaker declared. “Under fierce and intense competition she cannot hold her own at present, but all is not yet lost.” SOCIAL CHANGES The tremendous change was coming over the social structure. The old middle-class was being hard put to make both ends meet. The changes amounted almost to a social revolution. Every spot in the country had been invaded by industry and the old-time rural hamlet was fast losing its identity. Even the working classes were getting good education almost equal to the universities and were rapidly reaching an educational efficiency hitherto the right of the independent only. “Politically, the Labour Partj’ appears to be a failure,” Air. Alerritt declared. All classes were agreed on this and there seemed to be little likelihood of the party’s return at another election. New Zealand/is held in high opinion by men overseas, according ,to Air. Alerritt. All that is needed in confidence , and faith in face of increasing taxation. The country should protest with no uncertain voice against any tax which would increase the cost of production. The country has reached its limit. Economies by the Government and a charge on luxuries were the best methods of rectifying the past mistakes which placed the Dominion in its present over-taxed position. Guests at today’s luncheon included Air. H. P. Bonald, postmaster at Auckland, and Mr. M. R. Aldridge, business manager of the Post and Telegraph branch here.