THE TRADE OUTLOOK.

Taranaki Daily News, 6 January 1922, Page 5

THE TRADE OUTLOOK.

FACTORS FOR RECOVERY. BURDEN OF TAXATION. By Telegraph.—Press Assn.—Copyrlfftt. Received Jan. 5, 8.30 p.m. London. Jan. 4. Sir Walter Runeiman (a former Cabinet Minister), in an article in the Daily Telegraph, says: “It is criminal that uninformed politicians in and out of office should tell the public that there is an improvement in trade. There is nothing but stagnation in every part of the world. The truth is we have not yet reached the lowest depression. The cutting of waste, the reduction of prices, the creation of confidence, -the re-establishment of the gold standard, the sweeping away of obstacles to free exchange, and the re-opening of international trading are essential before recovery commences. It is flippancy for the people to console themselves that we shall never see pre-war conditions. No owner in his senses is going to incur outlay for repairs which will far exceed the value of a vessel. Hence the dry docks are empty and the shipyards are under bare poles; the Lancashire and Yorkshire mills are feeling the draught badly, as are also the coalfields. Financial chaos and prohibitive taxation have knocked the spirit out of enterprising men. What encouragement is there to solvent traders to run risks? They merely increase their burden of taxation and have nothing left to carry on with.”—Aus.-N.Z, Cable Assn.