THE BUSINESS OUTLOOK.

Manawatu Standard, Volume L, Issue 252, 19 September 1930, Page 7

THE BUSINESS OUTLOOK.

A COMFORTING REFLECTION. “VERY HOPEFUL SIGNS.” “In times of stress and depression it is comforting to be able to find some matters tor congratulation and to be able to point so far as this district at any fate is concerned, to some very hopeful and cheering signs,” states the annual report of the president of the Palmerston North Chamber of Commerce (Mr M. H. Oram), in dealing with general bqsiness conditions. . “In general and from a survey of other centres throughout New Zealand it can confidently be asserted that Palmerston North is coming through the depression very well indeed and this town can certainly be classed among those that are suffering least at the present time, and with care there is no reason why this should not continue to be the case, in this connection it may bo as well to emphasise again that optimism is to be distmguisheu from recklessness just as caution must be dissociated from undue pessimism; if such a combination as an optimistic Scotsman could be discovered it would probably be found that he was the type best suited to the uncertain conditions of the present time. “That the outlook in most businesses is at the present time obscure it would be idle to deny, as one business man most aptly put it: ‘Business is difficult, there are no precedents to guide us and we must steer our course by dead reckoning only.’ This, while no doubt worrying for the executive, heads, is not an unmitigated evil because it means that if this is consistently carried out a thorough stock taking of the position of each business if necessary and progress and development are based upon fundamentals. ABSENCE OF THRIFT. “At the same time one regrets to have to record that the spirit of thrift that one would like to see abroad and the willingness to make personal sacrifice in times of stress arc as absent to-day as they were six months ago when the last report was presenteu, and for this reason, i'f for no other, a> heavier tax upon .pleasures and luxuries would have been welcomed. “What is required by a business man in the development of his business is stable conditions upon which a sound progressive policy can be built and recognition and appreciation of his efforts to attract and use capital in the development of his business. In this connection nothing but harm can result from constantly changing conditions and incidence of taxation, a good example of which was the proposal of the Government to do away with the exemption of five per cent upon the capital value of business premises ; this completely altered the conditions upon which many extensive business building programmes, had been based.”