PULLING THROUGH

Evening Post, Volume CXV, Issue 77, 1 April 1933, Page 11

PULLING THROUGH

INDUSTRIES AT HOME

PRINCE AT BANQUET

EEVIYAL OF TRADE

(From "Tho Post's" Representative.) LONDON, February 21. The Prince of Wales, speaking at the Government banquet at the Mansion House last night in connection with the British. Industries Fair, welcomed the growing feeling of confidence in industry today. "We are pulling through slowly," ho declared. All nations were realising more and more that they were economically interdependent. Success. of the fanwould be international in its effect; it would create more employment, and would enable the Mother Country to make her contribution towards the world's economic recovery. The fair is the biggest of the series. In his message of hope- and encouragement to British t industry,' tho Prince of Wales said it was the'third time he had been privileged to speak at the annual banquet to celebrate its opening. "-This toast is a great responsibility at any time, even for somebody with business experience, but during the workY-wide economic and trade depression it is an even far greater responsibility. " ,■ The Prince said, in welcoming the guests from foreign countries and the Empire overseas, that they all hoped they would find what they wanted, and he added what pleasuro it was to have with them that night Senor Boca, of tho Argentine Trade- Mission. "They have not come here as buyers; they have come here to discuss with His Majesty's Government how the ties of friendship which have existed between Argentina and Great Britain for over a century can be still further consolidated for our mutual benefit. We are rather proud of our fair, and I hope that our friends, the foreign buyers-—both those who have seen it before and those who are visiting it for tho first time—will got the impression that British industrial enterprise, has soundness and vitality, and can adapt itself to rapid and everchanging conditions. TAITH IN THE FUTURE. "We have undoubtedly had in the past the reputation abroad for being somewhat commercially individualistic and conservative, and if this be true I think I can give you two of the reasons. Firstly, our past industrial prosperity, when we had most of the markets ofj tho world* at our feet and had no need to look for customers; and secondly, our geographical position as an island, which lias tended to prevent us from watching the progress of our competitors abroad as closely as wo should have done. , ■ . . ■ "There is no evil out of which;some good does not come, and if this reputation for industrial conservatism has been at all true in the past, the great depression of the last few years has literally forced many firms to bring their producing and selling organisations more up to date - "I know of manufacturers who have taken a chance and have recently installed new machinery, or brought their plant up to date, without waiting for increased orders, or for concrete signs of improved trade. Thoy have faith in the future. They have the necessary alterations to keep abreast of the changes that aro constantly taking placo in commercial conditions all the world over, . < ■ . . ~ j "And conditions today call more arid moro imperatively for co-ordina-tion of effort. I think there lins boeu too much multiplicity and overlapping in the past, ami it is encouraging that some of our major industries have set up organisations and combinations with the purpose of increasing sales. WORLD'S ECONOMIC SYSTEM. '' To turn to the bigger, international problem we must not forgot that we are only a part of a network of th 6 world's economic system. "It is the greatest possible mistake ever to let either an undue optimism or an undue pessimism get hold of you, bocause the one has a blinding and the other a strangling effect. "J beliovo that because of the worldwide determination to apply the corrective needed to bring about tho longdelayed revival of trade there is, despite setbacks, a growing feeling of confidence. "Hands have not lost their cunning nor brains their fruitful capacity for now and profitable ideas. We aro pulling through, slowly, but in the process there must bo no narrow nationalistic exclusiveness. "Tho doctrines of economic selfsufficiency and exclusive nationalism spell disaster in the changing conditions of modern, life, No individual producer, no industry, and no nation can command economic destiny singlehanded, nor can it pull through alone. All the nations are realising more and more that they are economically interdependent, but despite this encouraging fact we have-not yet found a fully effective form of international co-op-eration, nor a practical way to reconcile limited consumption with unlimited production. BUILDING FOR THE FUTURE. "We in this country feel, that we are now building strongly for tho future for our own trade and for world trade. We must no longer bo influenced by tho-bitter remembrance of the unfulfilled hopes and disillusionments of recent years. Wo must tryto look forward with our heads up and our tails up, not with a slack optimism, but with snne wisdom, confident that, although recovery in world trrulo must be slow yot the moro likely it. is to be certain and lusting. "Tho.British Industries Fair of 1933 is indeed deserving of success beeauso its success will bo international in its offeet. It will create more employment and will enable us to make our contribution- towards tho economic recovery which the whole world seeks. So lot us with hearts wish it success and bo upstanding and drink to it.1' (Prolonged chcpj-K.) Sir Philip Cunliffc-Listcr (Secretary for tho Colonies), replying, described the Prince's speech as wise, 'pcuetrnti'iig, and encouraging, "Tlio Royal Family," ho said, "have shown1 a keen practical intqrest in every department of the fair, and their visits have been of inestimable value nnd encouragement to every one of tho industries represented at it. I understand that tins year no fewer tlinn 100 different countries havo received invitations to come to the fair, and thnt the majority of them havo accepted." (Cheers.) -