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Taranaki Daily News, 31 December 1920, Page 2

BACK TO NEW ZEALAND.

"CHEAPEST IN THE WORLD," HIGH COST 01? PRODUCTION. Mr. Phil Myers, of Messrs. J. Myers and Co., who, left New Zealand in December, IUI9, on a world trip, with his wife and family, returned to Wellington by the Manuka on Monday. In the course of hie trip, Mr. Myers visited Canada, America, France, and Belgium; and'he'spoke iu terestingly of these various ~«unntri« ' to a Times representative last.night. "I have heard a good deal," .said Mr. Myers, a slump in prices at Home; but my experience is > that, in the case of all manufactured goods where coal and labor are the. principal costs of production, there hae been no fall whatever. Indeed, . during the time I have been away, instead... of prices having fallen, in many cases have risen. The articles I refer to chiefly are such goods as china, glass, earthenware, and hardware. These lines are not likely to fall in price until such times as the price of coal falls; and before coal falls wages have got to fall. Moreover, although this fall may eoni'e about, it will be a slow process, and will take some years to accomplish. I really think that in {he near future, both in England and America, they will have a Bet-back on account of the high cost of production. But it will be very gradual; and, unless people over-speculate, there is no fear of any hurtful slump in prices in the particular lines I have mentioned. REPUTATION OF THE DOMINION. "With reference to the cost, of living, my experience is that New Zealand is the cheapest place in the world to-day to live in, and this can be borne out by people who have travelled through the countries I Visited. If the people of this Dominion would only travel and find out more about what is going on in other countries, they would be more than satisfied with New Zealand and the conditions obtaining There is also another thing that is most satisfactory to a New Zealander travelling abroad, and that is that there is 310 part of the British Empire which is thought more of to-day than New Zealand. This has been largely brought about by our soldiers, who travelled over various parts of the world, and are spoken of most highly in every place they visited.

PROFITEERING IN AMERICA. "In America, I found that the labor conditions were very bad, and that manufacturers were closing down rather than pay what the men demanded. The result is that instead of the workers getting higher wageß, they have either to go back at a decrease or tho factories are closed* down altogether. When I was in America, there was a great outcry about a slump in prices. This was brought about by the retailers beoverstocked and having to reduce prices; but that they could well do, as the profiteering that was going on there would allow them to cut down prices considerably, and still make a handsome profit. «

"GETTING THE WIND UP." "We hear a lot about a slump in New Zealand, and about people getting the wind up, as {Fey call it. This has simply been brought about by a little over-importation, which will automatically right itself in the course of a few months. If people would only have sufficient confidence in their country, and not 'get their tails down,' it would be very much better and there would be far less nervousness. New Zealand, being a producing country, has nothing whatever to fear, as the whole world to-day is requiring foodstuffs. The only article that I can see which there is a certain amount of anxiety aßout at present is wool. This is due to the fact that the Continent of Europe is unable to buy, an account of the economic conditions obtaining there. As soon as those conditions improve, however, the Continent will be able to absorb all the surplus wool that the Dominions can supply. 4

BELGIUM'S RAPID RECOVERY. "With reference to Belgium, I sliould like to say that of the various countries which were engaged in the war, Belgium is recovering most quickly, for the reason that her people are all workers; and it will be only a short time before Belgium is nearly back to normal. France is also recovering, but somewhat more slowly than Belgium. England would recover very quickly, too, if it were not for the industrial troubles. They are the cause of tlie present depression at Home. AUSTRALIA AND NEW ZEALAND CONTRASTED. "We spent ten days in Australia on our way back here, and the conditions existing there are somewhat depressing. There is likely to be a good deal of unemployment in Australia in the* near future, brought about by the demands of the workers. There is no doubt' about it, all this difficulty is being brought on by the industrial troubles. There is already a great deal of unemployment amongst the unskilled workers in the Commonwealth.

"There is another important factor in tiie conditions of New Zealand which make this country stand well with the outside world," added Mr. Myers; "and that is that we have not go't 'a Labor Government and I pointed out to the people I met that the extremists in New Zealand have very little chance of getting into power, as there are too many sane here 'with small property interests, and they have no time for extreme Labor." t

A WOBD OF WARNING, In conclusion, Mr. Myers uttered a warning in regard to the prevailing high price of land. "People buying land at the existing high prices," he said; "should exercise extreme caution, because there is no doubt that within the next few years the prices of commodities must fall as other countries get to work; and the result will be that the present market price of land must fall, and those buying at such prices must lose considerably."