HOPE AND FEAR.

Auckland Star, Volume LIX, Issue 305, 26 December 1928, Page 7

HOPE AND FEAR.

BRITISH INDUSTRY.

Disappointing Year With

Future Obscure.

LABOUR OPTIMISTIC

'Australian Press Assn.—United Service.)

LONDON", December 25.

Measured by the hopes of a year ago, 1928 has been disappointing, according to Lord p]bbisham, formerly Sir Rowland Blades, ex-Lord Mayor of London, who is president of the Federation of British Industries.

There have not been the gains anticipated although, on the other hand, there have not been losses.

This lias been the quietest year since the Armistice, says Lord Ebbisham. World conditions have been more settled and disputes in Britain have been notablv absent. There has been a material shrinkage in the adverse trade balance and the regeneration and reorganisation of industry has been undertaken, which should provide a basis for substantial results in 1929.

Mr. W. L. Hichens, chairman of Cammell, Laird and Company, Limited, says he does not see signs of a marked revival. Steel orders are scarce and prices have been keenly cut. The chief hope lies in the recent important steps to reorganise the industry. Far-reaching adjustments are inevitable.

Shipbuilding similarly is depressed, and there is no sign of a solution of the problem. The capacity of the British shipyards exceeds the demand, and there is no indication that the demand will expand sufficiently.

Mr. Ben Tillett, secretary to the political department of the Transport and General Workers' Union, says he believes that u Britain presents a united front she can compete with America, France and Germany, or all combined. The present peace conferences between the employers and trade unions constitute a genuine gesture. They are capable of working wonderful changes for the country's good and the betterment of trade.

Labour must be prepared to shoulder the increased responsibility which arises from a bigger share of the control of industry. Labour is willing to cooperate under fair conditions, but there must be more trust and less suspicion. Good team work can produce the progress which everybody desires.