"PRO-EMPIRE FEELING."

Auckland Star, Volume LXII, Issue 228, 26 September 1931, Page 9

"PRO-EMPIRE FEELING."

EFFECT ON NEW ZEALAND.

RETURN TO SANE CONFIDENCE,

Mr A. M. Seaman, president of the Auckland Chamber of c *<ce Recalled that when the exchange turn against Australia, manufacturers had an immediate selling advantage, and were able to place goods on the New Zealand market at prices that seriously embarrassed local competitors. lhe aa vantage was largely temporary, and internal costs gradually adjusted them selves. v As against countries on _ the gold standard, Great Britain would enjoy a similar advantage now, and the fact was apparent already m the reopening of certain large manufacturing establishments. In so far as Great Butara reaped a benefit, Ave would benefit with her. If other countries adopted tne sterling instead of the gold standard, the advantage would be lost to us, and the situation in Denmark was, therefore, of special interest. "It seems that we are likely to have the benefit of a wave of pro-Empire feeling," said Mr. Seaman. "The same factors that will operate to revive British trade will make it more difficult and expensive for us to buy outside the Empire, and so will concentrate our buying in those countries where we sell.

"With the definite Indications of better trade now appearing there should come a revival of local confidence, and, if that results, our local retail, trade will recover. For some time I have been convinced that a quite unnecessary lack of confidence has led tq a restriction of buying by many who were quite well able to purchase their normal requirements," and ,this 'has had the further evil effect, of tying up money that should be employed commercially and industrially; I am looking to the present situation to develop a sane confidence and gradual return to normal 'business activity."