A NOTE OF OPTIMISM

Evening Star, Issue 18254, 19 April 1923, Page 10

A NOTE OF OPTIMISM

TRADE CONDITIONS. [Per United Press Association.] WELLINGTON, April 18. A note of optimism was struck by Mr W* F. Cuthbertson, president of the Wellington Chamber of Commerce, in his presidential address at Dio annual meeting and luncheon, held to-day. While admitting that during tho past two years a most trying period of trade had been passed through, he rejoiced to feel that the lowest point in market conditions had been reached. We had yet to _ rise to the heights of prosperity, but _it was very pleasing to note the optimistic feeling that prevails. Trading conditions had improved, he said, and he believed that at a very early date New Zealand could look forward to satisfactory and more stable trading conditions. fie stressed the need for reduction of the onerous burden of taxation, especially tho company tax, and expressed the hope that the Taxation Commission’s recommendation of a 5s maximum rate would at least he adopted. Trade could not stand the burden much longer. Tho commercial community, ho added, viewed with misgivings the growth of taxfree State and municipal enterprises, and contended that they should share equally with commercial enterprises in the obligations of the dominion.

He also spoke of the need l for increasing international trade. The Minister of Customs (the Hon 1 . Dovvnie Stewart) stated that the Prime Minister had already announced that the income tux waa to be reduced, but Die speaker could not say by how much it would Ibe possible to reduce it. The Government desired to encourage interimperial trade as much as possible, as a substantial British preference was given by the tariff. He congratulated the chamber on its successful year.