DEPRESSION'S SWAY

Evening Post, Volume CXIII, Issue 74, 29 March 1932, Page 8

DEPRESSION'S SWAY

ANUIMtK !WU YEARS BUSINESS MAN'S VIEW (By Telegraph.) (Special to "The Evening Post.") AUCKLAND, 28th March. In two years New Zealand should be back to prosperity. This is the opinion of Mr. W. A. Briscoe, chairman of directors in London of the well-known firm of Briscoe and Company, who arrived in Auckland to-day by the Ulimaroa from Sydney. "My feeling i's 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 quite clear that 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, continued 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 be back to prosperity in £wo gears.