BRIGHTER TRADE.

Manawatu Standard, Volume LVI, Issue 260, 1 October 1936, Page 3

BRIGHTER TRADE.

CASE OF BRITAIN. NOT DUE TO ARMAMENTS. AUCKLAND, Sept. 30. Factors which had contributed to the revival of trade in Britain were commented upon by Sir Montague Burton, a clothing manufacturer of Leeds, England, who is one of the British delegates to the Chambers of Commerce Congress. Sir Montague’s firm claims to he the largest buyer of Australian and New Zealand wool in the world, and has a staff of 15,000. The visitor pointed out that the prosperity which existed in Britain to-day was not duo to the construction of armaments. It had its origin in the Government’s conversion scheme, the departure from the gold standard in 1932, and the establishment of the National Government, which had engendered into trade that essential spirit of confidence. Industry generally had never enjoyed such a remarkable period of prosperity in normal times as during the last four years. It was only in tile past year that rearmament activities had started, and the results of this activity would not be felt for some time. The expenditure of £100,000,000 in clearing away insanitary homes and the building of attractive homesteads in rural surroundings had contributed to the revival in trade also, supplying work for builders and creating a demand for household requirements. In commenting upon the devaluation of the franc, Sir Montague said it might give France a trading advantage, but it was very necessary to start French industry going again. He added that those who had witnessed what had occurred in dictator countries believed that if these systems were continued and extended civilisation would perish. Even the form of dictatorship typified by Mussolini, which was brought about by the least amount of conflict, had produced consequences which had not been anticipated and which threatened to smash the League of Nations. France, Britain and America retained the principles of individual liberty which had been threatened by the extremists of right and left. Some badly-informed opinion in America desired to steep clear of the European muddle, hut it forgot, or did not realise, that whichever extreme eloment gained control in Europe it would endeavour to make contact with similar extremist opinion in America and seek to cultivate it.