SLUMP IN AMERICA.
TRADE IN DISTURBED STATS. DIFFICULT TIMES *TTF.*n. Trade in the United States, as seen fey the Hon. George Fowlde, who spent some months there, is now in a disturbed 6t*te. When he left America three weeks ago on his return to Auckland. he found people "wondering what tv going to happen next."
"There wm in one or two lines not • little unemployment," he said, "an<l prices were fulling. The woollen industry in partk-ular w*s affected. I do not think, however, in spite of the apprehension generally expressed there that chere is prospect of very serious developments. The country was 'booming' when I arrived there, and it ie only within the last couple of months that the change has taken place. Now quite a number of mills are shut down, ajxi when I left more were expected to follow suit.
"'One of the main characteristics of the United States of late has been the extravagance of the people. Although wages are high, much higher than in New Zealand, yet co are prices, and it is doubtful if the working men *xc so much better off than they are here."
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Auckland Star, Volume LI, Issue 292, 7 December 1920, Page 5
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191SLUMP IN AMERICA. Auckland Star, Volume LI, Issue 292, 7 December 1920, Page 5
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