BAD TIMES FOR AMERICA.

Hawera Star, Volume XLV, 23 July 1925, Page 9

BAD TIMES FOR AMERICA.

PROPECY BY A WA hf, STREET EXPERT. “America will soon be suffering from a trade depression. It will come within the next three years and possibly within the next two years,” said Mr R. D. Wyckoff, editor of The Magazine of Wall Street, when in London. “Trade has been good the last few years, and money is plentiful,” he added. “It is so plentiful that one wonders where it comes from. It will help us, though, to tide over the had times ahead. It will only be a short time before the balance of trade goes against ns. “England is the only country that is paying her war debts. It is wonderful to me how you have managed this when I see your trade conditions. It has resulted, however, in the rise of the £, and has increased our confidence and respect for vour country. “The rest of Europe will never he able to pay unless we lower our tariffs. The result is that our manufacturers are between the devil and the deep blue sea. If our tariffs are lowered they will suffer, and if they are not we do not think we will recover our debts.”