RETURN TO PROSPERITY

Bay of Plenty Times, Volume LX, Issue 10828, 29 March 1932, Page 3

RETURN TO PROSPERITY

Englishman’s Estimate of Two Years. advice to xkw Zealand. In two years New Zealand should be back to prosperity. This is the opinion of Air W A. Briscoe, chairman of directors in London of the well-known firm of Briscoe and Company, who arrived in Auckland by the Ulimaroa from Sydney yesterday. “My feeling is that the depression will probably be accentuated during the next twelve months and that it will be not less than two years before New Zealand Is right again,” said Mr Briscoe. “It is unite clear the Dominion cannot be sound commercially, economically or financially until she has radically adjusted her finances to world market values.” Whatever fiscal measures were taken, commented Mr Briscoe, the Government ought to avoid anything which meant depleting existing capital or capital which otherwise would come into New Zealand. As far as he could see, if direct steps were taken—and the country had an efficient financier in the Hon. W. Downie Stewart —the Dominion would he back to prosperity in two years. Mr Briscoe is accompanied by his cousin, Mr George Briscoe, a London director of the firm. Mr W. A. Briscoe toured through the Dominion during January, visiting the various branches'of Briscoe and Company. He was also in the Dominion three years ago.

Both will leave for England by the Tamaroa, which sails from Wellington on April 6.