TRADE REVIVAL.

Auckland Star, Volume LXIV, Issue 189, 12 August 1933, Page 4

TRADE REVIVAL.

AMERICAN EXPERIENCE. "DEPRESSION IS OVER." Lord Barnby, a distinguished figure in the British banking and business world. ?£.,i eac * °S the great wool-buying firth of Willey and Company, Bradford, recently made what he describes as "a quick swing round of some 3500 mills in the east and middle west" of the United States. There he made many personal contacts with leaders in American commerce and finance, and also met personages prominent in banking and mercantile affairs from California and the other Pacific States of the Union. From all these he learned the one song—"The depression is over." This general feeling, Lord Barnby wrote in some concise notes on his tour, presumably for private circulation among his friends, was confirmed by a multitude of indices, and from what he heard, this feel' ing was general, too, in the Southern States. Lord Barnby observed that "the causes or moments suggested vary widely. All agree that some main event eased pent-up emotions and started the thaw needed to release the freeze-up of the nation's mentality which has occurred. From the coast they claim it started with the closing of the banks. A feeling of relief came that any deposits they had were at last secure. The worst was past. In the east 'going off gold' is given as the event that primed the pump. "Admittedly, beer again was a clever psychological timing, and had a potent effect. "Whatever bo the cause or moment in the last analysis, it comes to tliis, tlie average business man reasons 'tbree months ago my business was stagnant, and now I'm busy and making money, so what do I care about the "