The Hawera Star SATURDAY, SEPTEMBER 27, 1924. THE EMPIRE AND THE WORLD’S TRADE.

Hawera Star, Volume XLVIII, 27 September 1924, Page 4

The Hawera Star

SATURDAY, SEPTEMBER 27, 1924. THE EMPIRE AND THE WORLD’S TRADE.

Delivered evening by 6 o’clock In Hu were, Menaiu, Wmanby. Okaiawu, Eltham, Psteek, Wuverley, Mokoia, Wbakamara, Oimngiu, Meeemere. ' Fraser Boad. ■ end Otakeuo Manutahi, Alton, Hurleyville, Mangatoki, Kapouga, Awutuna, Opunake,

From time to ; time references are made to the keen competition for trade which it is. anticipated will be experienced- in the near future, and naturally British citizens who are proud of their nation take more than a passing -interest in these references. The war made an enormous difference to international trade, for not only did it completely close many of the channels through which trade normally flowed, hut to meet its demands great conversions had. to be made., and factories were changed from peacetime production to the turning out of huge stores of munitions and supplies required by the armies and navies engaged in the awful struggle. It was not long before the world was. topsyturvy, and the normal balance was seriously disturbed. The great demands for production for war purposes led to 3; prosperity which obviously could not last indefinitely. In their ignoi’ance of the remarkable powers of withstanding economic pressure, many people thought that a clash between the largest nations could not last long, and one remembers how few there were in August, 1914. who thought it possible for the war to last more than six months. The great economic problems were not nearly so much, in evidence during the war as after it ended. For the five years following 1914 unprecedented prosperity appeared to be experienced. There was practically no unemployment during those five years; in fact, the problem of finding sufficient labour in Britain to meet the war’s insatiable demand for materia lp was difficult and was only solved by the

re;i:H’.ieij.s 01. thousands of. women to take up work which was usually done by men. Never before had workers received such large sums of money, and 'naturally they spent it far too freely. The period of unsound prosperity ended soon after hostilities --•eased, and though men demobilised from the Army and Navy returned to their pre-war occupations, it was soon found that the nation was in serious difficulties. Trade with the Continent. could not he quickly restored, for the European nations were impoverished and could not buy extensively. High prices, due to the higher cost of production and the fact that reserves of raw materials and manufactures had been used up during the war, limited customers’ purchases and the nation was faced with a great reaction frqm the unstable prosperity-of the previous five years. For five years the nation has suffered from the slump, and even this fair country has not escaped from the world-wide effects, thougli compared with the sufferings experienced in other lands New Zealand must be,considered exceedingly fortunate. We suppose that it will never be known what actual loss to the world the war meant, but we do know 7 that it left behind enormous problems, and -one-wonders what will be the effects of the various settlements and treaties which the" nations are making. This week a message gave a grave warning to the British Empire of danger from German competition in trade, and though the statements contained in the message may have been inclined to exaggeration, we may be sure that the Germans will do their utmost to restore their trade. They have exchange in their favour, and the people are not lacking in determination, nor do they shrink from making sacrifices if they think that their country will benefit. We- shall probably find that the German workers will accept longer hours’ 1 and lower pay than the British, and in the competition for trade it will be difficult for British manufacturers to , prevent their competitor's under-selling them. No good British citizen desires to see British workers overworked and underpaid, but if the nation is to hold its own in the race the workers as well as the employers must face their responsibilities. Go-slow policies, indifferent workmanship and refusal to co-operate withV their employers will not enable the nation to become more prosperous. At the present time the conditions of trade and finance in the Empire are such as to require most careful handling. The effect of the reparations settlement, the Dawes report, arid treaties."-which are in the making cannot easily be foreseen, and unless great care is exercised ■ the nation may find itself seriously, burdened and handicapped in the keen competition which is expected in the next few years. Loyalty to the principle of British goods for British people and consistent effort by all citizens to work for the welfare of the Empire are the best defence against the attack which rivals are. preparing to make.