UP GRADE.

Hawera Star, Volume XLV, 29 December 1925, Page 8

UP GRADE.

BRITISH TRADE SLUMP ENDING. LONDON, Dec. 16. ‘‘ i have a feeling that we are nearing the end of the post-war trade depression,” declared Sir Arthur Dorman, speaking at the annual meeting of Dorman, Long and Co., Ltd. He regretted that the steel trade s application for safeguarding duties was likely to be rejected, and that it would have to continue its battle unaided. “Wc will do it,” he added, “and 1 believe we will win through; but trade may suffer severely before the struggle is over.”

Sir Arthur urged that an understanding be reached with the Continental steel-makers. “It would be to their advantage as well as to ours/? he said The Agent-General for Victoria, Mr. G. Fairbairn, who will join the Maloja at Marseilles on December 25, told the special representative of The Sun that Britain was awakening to the fact that her manufacturers no longer possessed the cheapest power in the world, whereby she obtained her tremendous commercial advantage of last century, and was realising that she must reorganise her industrial life and introduce electric power to compete with America. This probably would absorb a good deal of her future capital, leaving less for lending overseas. By returning to the gold standard, Britain had avoided the perils of in flation, and now apparently she was turning the corner after a long period of depression. On the other hand, Germany was faced by difficulties in securing capital for her industrial enterprises because lenders were shy, remembering what had happened to the mark.