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The Daily News. WEDNESDAY, OCTOBER 5, 1921. TRADE AND INDUSTRY.

Sir Thos. Mackenzie, who has just returned to the Dominion after a visit to England, regards butter as perfectly Safe, the supply being far below normal, and as the New Zealand article is superior to any used in Britain, it should command top price,* The present drawback is that our butter is being exploited by dealers' and not sold on its merits as New Zealand produce. The extent to which the best butter will command ready sale at prices satisfactory to the consumers depends upon the purchasing power of the people. On that point the latest official trade review is not very encouraging, as it states that the spending power of the British public is said to be diminishing. This state of affairs more particularly affects meat, the consumption not being sufficient to cope with the large stocks. There is, however, an excellent market for lamb and light mutton at a price about 100 per cent, better than was paid by the Imperial Government, though developments will require careful watching by competent people, states Sir Thomas Mackenzie. With regard to the proposals for wool, opinions appear to vary to some extent. Sir Thomas Mackenzie expressed grave doubts as to this market so long as the surplus of requisitioned wool was so high, as both Germany and France were taking less than before the war, France being regarded as off the market owing to her machinery having been destroyed. On the other hand, Mr. Mark Sheldon (Trade Commissioner for Australia in the United States) considers the outlook for wool has improved, and that there is a more hopeful tone in the Bradford market than has been the case ’or some time. So long as the prices of woollen goods are inflated, so long will the demand be restricted, for the simple reason that as the people cannot afford to buy they go without. Who is responsible for the present high prices is not quite apparent. The fsll in the price of coal has enabled the manufacturers to resume operations on a favorable basis; it is said that wholesale prices have, in many cases, touched the lowest point, yet unemployment is rife and large numbers of people have as much as they can do to keep the wolf from the door. The British Government is giving the matter serious consideration, and if, as is expected, large export credit extensions are granted to industry the severity of the late trade depression should give place to a welcome revival of industry generally, though the process will necessarily be slow if it is to endure. According to present indications, although there is nothing like a general revival of industry, from many industrial centres in Britain more cheerful reports are appearing, but the tendency of retailers and speculators to force up prices is still evident. In Britain, as in the Dominion, the burden of Government expenditure is a serious handicap to trade expansion owing to the heavy taxation imposed on the people, and the fact of the decrease in the yield of the excess profits tax in Britain, of over eighty-two millions sterling, shows plainly the severity of the trade depression that has been affecting the country. Nothing but drastic retrenchment will avail to restore industrial conditions to something approaching normality. Even then remedial measures will not suffice , unless they are supplemented by a united effort on the part of both Capital and Labor in the direction [of restoring industry and trade.

Now that the depression is commencing to lift, its progress can be materially expedited by a union of forces making for industrial peace and expansion. The strike evil is largely responsible for unemployment and depression, ■'as it puts out of gear the productive machinery on which prosperity depends. The lesson is so obvious that it is a marvel how it is being ignored. Until it is heeded and acted upon the workers are bound to suffer.

Permanent link to this item
Hononga pūmau ki tēnei tūemi

https://paperspast.natlib.govt.nz/newspapers/TDN19211005.2.18

Bibliographic details
Ngā taipitopito pukapuka

Taranaki Daily News, 5 October 1921, Page 4

Word count
Tapeke kupu
662

The Daily News. WEDNESDAY, OCTOBER 5, 1921. TRADE AND INDUSTRY. Taranaki Daily News, 5 October 1921, Page 4

The Daily News. WEDNESDAY, OCTOBER 5, 1921. TRADE AND INDUSTRY. Taranaki Daily News, 5 October 1921, Page 4

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