BRITISH PROSPERITY

Manawatu Standard, Volume LIII, Issue 249, 18 September 1933, Page 9

BRITISH PROSPERITY

DEFINITE INDICATIONS. LORD BLEDISLOE’S OBSERVATION. AVELLINGTON, Sept. 16. Facts supporting reports of a definite improvement in industrial conditions in Great Britain were given by His Excellency the Governor-General, Lord Blcdistoe, when replying to a toast at the smoke concert held last evening by. the AVellington Commercial Travellers’ and AVarehouseiiien s Association. His Excellency also made reference to the important part playcd by the commercial agent and traveller in the business life of the community. “I greatly appreciate the warmth of your welcome so redolent of loyalty to the Crown and of friendly goodwill to myself,” said His Excellency. “Your organisation is deservedly held in high icpute as maintaining the prestige and credit of your important vocation and as being generous in your support to many deserving charitable institutions. You may indeed bo described as efficient traders, good sportsmen and ardent philanthropists. “I am fully conscious of the anxiety and tribulation which many of your members must have experienced dqring the last year of acute industrial depression, and those who have suifered in consequence have my protounci sympathy,” he proceeded. “It is no concern of mine to discuss the aoe~ quacy of the remuneration piovidecl by your respective principals for the important section of the community to which you belong. I feel sure , , at within the limits of their depleted lesources they will be reasonably resiionsive to your legitimate claims. Ine commercial agent and traveller are the fountains by which the refreshing waters of industry aro scattered over a presently parched land. It these human fountains are to play successfully (and work and play are in thencase synonymous) there must be a reasonable amount of impetus behind them in addition to their inherent personal energy. It is important in these days of temporary adversity that we should hold up our heads and maintain our good spirit. “In the presence of the acting Prime Minister it would bo superfluous for me to refer to the economic conditions, present and prospective, in this Dominion, for he has far fuller knowledge of such matters than can claim to possess. But being m a sense a representative of Britain as well as of the British Sovereign, and realising how greatly the prosperity ot New Zealand depends upon that of the Old Country, I can say with confidence that judging by recent communications from those in authority at Home there is a definite all-round improvement in industrial conditions in Great Britain which is unfortunately not so apparent in her rural areas. As the purchasing power of tlie urban population of Britain improves with returning prosperity it must ere long tend to reduce the state of saturation of the market for primary commodities whether raised in Great Britain or in His Majesty’s Dominions overseas.

“The return of industrial prosperity is being accelerated in no small measure by the availability of cheap money. Cotton, wheat, steel, and coal are deemed to be fair indices of the trend of national trade. _ Tlie cotton industry in Lancashire is being drastically reorganised and placed orT a sounder basis than ever before. The coal industry seems likely to have a much-needed fillip from the hydrogenation process of extracting motor spirit from coal as skilfully handled by Imperial Chemical Industries. Several iron blast furnaces in Lincolnshire, as well as steel works in different parts of tlie country which have been closed ever since the war, are being relighted in anticipation of a largely-increased demand for metal products, and in tlie industry of my own neighbourhood—that of tinplate manufacture —there is greater activity to-day than there has been at any time during the last three years. “Commodity values will no doubt increase during tlie next two. years, but I venture to hope that the increase will not be so sudden and spectacular as calculated to produce wild speculation. Prudent speculation is synonymous with commercial, adventure, but wild speculation not of tho usefully vertical but of the uselessly horizontal description, leaves behind it a heavy permanent burden upon the whole community, which, hamstrings its activities and shackles commercial enterprise. “Nothing could afford me more profound satisfaction,” His , Excellency concluded, “than to see you all busy and prosperous before I leave the Dominion, for there is no surer indication of national well-being than your own activity.”