ENGLAND RECOVERING.

Auckland Star, Volume LIX, Issue 214, 10 September 1928, Page 9

ENGLAND RECOVERING.

NO SIGN OF DECADENCE. WOXLD>I FUTAHCIAI* CENTRE. CANADA'S GREAT PROSPERITY. SIR JOSEPH WARD'S VIEWS. "Industry is recovering, and there is the same spirit of confidence in the people ae ever," said Sir Joseph Ward, in speaking of the conditions ruling in the Motherland. "London," he said, "is still the financial centre of the world, and notwithstanding the thousands of millions of pounds that have had to be provided for war purposes the country can still supply all the money required by the world, and the country is as fully equipped as ever it was to carry on great enterprises. Depreciation as applied to any individual loan is not the slightest indication of the decline of British finance. Over-borrowing by a country applying for money in England would necessarily have an adverse effect upon a loan, but the fact stands out that England remains the strongest financial country in the universe to-day." Referring to industry, Sir Joseph said that the steel and iron trades had not yet recovered. This, of course, was an important section of the industrial life of the country, and the position was far from satisfactory. In many circles the slackness was attributed to "dumping" from foreign countries. Others would not concede this. A Material Change.

"The whole life of the country has materially changed since the war," he continued. "There is a strong move in operation at the moment, backed by leading men, to see that the architecture as far as private homes are concerned, does not deteriorate. These men are anxious to see that English home life, that has been such a great factor in moulding British character, is not spoilt, at any rate as far as the erection of buildings is concerned." Referring to transport, Sir Joseph said that legislation had been passed to protect the railways against the enterprise of petrol driven vehicles on the road. The increase in motor bus transport was phenomenal. Services were running long distances in every direction, and the railway companies were certainly feeling the pinch, and would have to be fontent with even smaller dividends. The eompanies had their own buses on some •f the routes to compete against the motor bus organisations.

"I do not believe they will ever run the motor buses off," commented Sir Joseph. " They . a development of modern life. Millions of capital are sunk in them, and the number of men employed is enormous. Each motor bus employs two men, but that cannot be said for a railway carriage." Prosperous Canada. Canada, according to Sir Joseph, was having a most prosperous time. This he said "was due to the phenomenal wheat crop this year, but the " fly in the ointment" was the reduction in price. " Instead of getting 6/ per bushel, as in New Zealand," said Sir Joseph, "the price is down to 4/." To illustrate the tremendous development in wheat growing in Canada, Sir Joseph said that seven years ago not one bushel of wheat was exported from Vancouver. Last year the export from that port alone was 80,000,000 bushels, and this year the estimated export from Vancouver was 100,000,000 bushels. This great increase in wheat growing was making for the employment of all surplus labour. An arrangement had been made with England for 10,000 immigrants to undertake harvesting and other work in connection with the industry, but only 8500 men had been sent. The position was very different in New Zealand, where primary industry was more or less at a standstill in the winter and prevented the absorption of immigrants from the Old Country. Tourist Traffic.

Touching on the tourist traffic. Sir Joseph said Canada and the United States laid themselves out in every way to attract this traffic. At Toronto, for instance, a hotel was being built with 1200 rooms, and the architecture was wonderful. Everything done in Canada and the States was on a permanent basis. An exhibition was held in Toronto every year, in September, and all the buildings were of a permanent character. Race tracks, competition hall, and all other work was laid down with a view to the future, and not for the present moment only, as had been the case in New Zealand. " There is no sign of decadence in the Old Country," said Sir Joseph, in conclusion. " The spirit of enterprise is as firmly embedded as ever it was, and the country is second to none."