SLOWLY BUT SOUNDLY

Evening Post, Volume CXVI, Issue 146, 18 December 1933, Page 10

SLOWLY BUT SOUNDLY

AMERICA'S RECOVERY

"ROOSEVELT WILL WIN OUT"

Head of Frederick Steams and Co., Detroit, U.S.A., .Mr. ■ Frederick S. Steams, accompanied by Mrs. Steams, arrived by the AVanganella today in the course of a world tour during which he is • visiting the company's various branches and agencies. Mr." and Mrs. Steams intend spending Christmas, at Rotoruu, after which they will leave for Auckland iv - time to ca^ch the Monterey for Sydney. "I feel that President Roosevelt is up against a very big battle, but that he is going to win out," said Mr. Steams to a "Post" representative. He is sincere. He will not succeed 100 per cent.; no human being could. Although he has a great many critics, there is no question to my mind that his administration will do a great deal of good. Even if it succeeds about 30 per cent, he will have accomplished a tremendous amount of work, because, as you know, when he took over every bank in the United States was closed, and he really had to start a 'new deal.' • AYe feel in the United States that Roosevelt is going to succeed, but it is going to be very slow. After all, that is .the only way to have it—slowly, but soundly. "I spent ten weeks in England," continued Mr. Steams, "and I was very glad to note England making what I thought rather a splendid recovery. They think a great deal there of the way both Australia and New Zealand have come through this—l don't know what you call it.here." Mr. Steams was informed that: the very unpleasant word "depression" had enjoyed great popularity. "Well,, readjustment period," he suggested, apparently not thinking much of "depression." "Judging from the cable messages from time to time," he proceeded, "business is coming back slowly but satisfactorily. Our people want to get back, not on any synthetic basis, but on a sound basis." Mr. and Mrs. Steams left Detroit in August, and after visiting England and France came out to Australia from Marseilles. "Our firm," said Mr. Steams, "is one of the oldest medicine manufacturing houses in the United States. We are in our 79th year, and I am of the third generation of Steams. Wo do very satisfactory business in both Australia and New Zealand. Our volume of trade with Australia and New Zealand is increasing, which in some measure indicates the improved conditions in . these two countries."