AMERICAN TRADE OUTLOOK.

Taranaki Daily News, 11 December 1920, Page 5

AMERICAN TRADE OUTLOOK.

FALL IN PRICES SETS IN'. A tendency toward decreasing business and increasing unemployment was observed during his visit to the United States by the Hon. George Fowlds, who returned by the Niagara on Monday. During the earlier portion of the time that he was there, he said, business seemed to be good, most people employed, and prices high, very much higher in most cases than they had ever been in New Zealand. Before he left there was quite a decided change. A drop in prices for some articles that was very considerable could be detected. It was apparent that a considerable number of mills were shut down and others running only half time, while there was a certain amount' of unemployment. Wages were considerably higher than in New Zealand, but considering the purchasing power of money he doubted whether the real wages were any higher than in New Zealand, when he left. There was evidence of quite seriously troublous times, and, as m other countries, widespread animosity on the part of the mass of the people against those who had been accumulating fortunes, not by the million, but by the billion, during the war. In all the cities there could be seen evidences of the wildest extravagance. This could be gathered from the excessively high prices of the goods displayed in the shops in large quantities and apparently friding buyar* .