NEW IDEAS.

Auckland Star, Volume LXVI, Issue 35, 11 February 1935, Page 4

NEW IDEAS.

STOCK EXCHANGE SURVEY. OUTLOOK FOR 1935. That tlie outlook for 1933 promised well, that it would be a year of considerable reconstruction, and that a great many hitherto cherished ideas and principles would vanish, were contentions put forward at the annual meeting of the Christchurch Stock Exchange by the chairman, Mr. H. Kitson.

"Events of 1932 and 1933 were about to bo felt in future conditions," he said. "During those years contracts and longestablished business customs took new meanings. Legislation was brought about to, protect certain interests for the ultimate good of the community. Interest and rents were forced down by various Acts and a slow reconstruction period commenced. Many people considered that much of the legislation was panicky and socialistic, but it,is too soon yet to judge. We have to be prepared to alter many of our views to meet entirely altered conditions. I think the most outstanding lesson of the period since the war is that no nation can isolate itself and be prosperous. And we are learning that no section of the community in any country can prosper, with other sections being down and out. We are passing rapidly through periods of deflation and inflation, high tariff barriers, reconstructions, quotas, conferences, agreements—all experiments—and the far-reaching effects and repercussions are often not realised when these experiments are initiated. Many theories are brought forward to be immediately knocked down. There does not appear to be any likelihood of any lowering of direct taxation in the Dominion for some years. Increased taxation must be cheerfully borne by those who are in a position to pay. We have to readjust our business and lives to meet these calls. In other words, we have to help one another to help ourselves. The readjustment of values and ideas must' be a slow process and it must be borne in patience."