Manawatu Daily Times The Causes of Depression

Manawatu Times, Volume LVI, Issue 5618, 6 April 1931, Page 6

Manawatu Daily Times The Causes of Depression

Discussing the causes of the great economic collapse, in a speech in the House of Commons recently, Mr. Winston Churchill said he believed that the United States before the crash of October, 1929, was getting nearer to achieving the joint ideals of capital and labour than any other community had done at any time. The immediate cause of the American crash was what the Chancellor of the Exchequer had very properly stigmatised as an orgy of speculation. But that was not the only cause.

There was a fatal weakness in the economic strength of the world, which could be described in one word—Asia. In China, India and Russia there were populations which aggregated nearly 1,000,000,000, or nearly two-thirds of the population of the world. China was plunged into anarchy; India was shaking with unrest, Russia, whatever view they might take of its politics, constituted to-day an economic factor more strange and more menacing than any which had been witnessed even in our time.

Instead of increasing after the war the consuming power of the human race had contracted in respect of the three countries he had mentioned from £355,000,000 in 1913 to £309,000,000 in 1929. That was the weakness, and he could discern no prospect of speedy improvement. The Five Years Plan in Russia would no doubt fail, but nothing could prevent it succeeding to the extent of 60 per cent. It would fail in so far as it made for the economic welfare of the Russian people, but it would succeed in so far as it made for the economic illusage of other peoples. Nothing could stand against exportations by a whole State for cash and for accumulations of credits in foreign banks, irrespective of profit and costs of production. Here they Avere coming increasingly into the presence of facts and processes before Avhich the old-fashioned doctrines of freetraders or protectionists Avere equally obsolete.

The recently formed Palmerston North Citizens’ Committee intends to watch the interests of citizens in relation to the municipality and is to hold meetings when required. Mr G. H. Bennett has now been elected president, Mr F. Cousins secretary and Mr E. R. B. Holben the treasurer.

At 9.45 o’clock on Saturday a sharp earthquake shock was experienced' at Palmerston North, the tremor being preceded for some 30 seconds by a gentle rocking motion. The culmination of the shake itself, however, was of short duration and no damage was reported. Wanganui and AVellington also reported having received the ’quake.

One of the prettiest of the New Zealand forest trees is now coming into bloom—the houhere, ribbon-wood, laeebark, or Hoheria populcnae, to give it some of the several names under which it is known. Apparently the season has been most suitable, for the trees are so covered with th.eir delicate white blossoms that it is difficult to ?:::o the leaves. Most of the New Zealand trees have inconspicuous flowers, but the blossoms of the houhere are nearly an inch across and make a wonderful show. There is a South Island relation, the Gaya Lyallii, which has even larger flowers, over an inch in diameter. It is very abundant along the Milford Track, and in the month of January this variety of lace-bark is rather like a flowering cherry. The houhere gets its popular name from its lace-like inner bark, which is exceedingly tough, and was used by the old-time Maoris for making cordago and other articles. In the Urewera some of the natives even now use it for making baskets and bags. As the houhere is a very graceful tree, even out of flowering time, it is grown freely in gardens and parks.

In a late number of the well-known French illustrated weekly, "L’lllustration, ” there is an excellent account of the " trcmblomont dc terre” that wiped out Napier. There is a good view of the town from Scinde Hill, and two maps of the locality. The information in the article is obviously drawn from reliable sources, and there is not a single mistake in the place names—even the Maori ones—which arc so often a source of danger to the foreigner. The article concludes: "It is curious to recall that the great French seismologist, the late Count dc Montessus de Ballore, drew attention more than twenty years ago to the dangerous situation of Napier from a scismological point of view, though he never believed such a disaster as the present one would occur.’’

"Trouble you for a match, sir?’’ (It was in a Wellington Street car). “No!” snapped the man addressed, "haven’t got one, wouldn’t give it if I had. Smoking is a shocking waste of time and money.” "I’m not wasting your time or your money, cither,” came the reply. The surly passenger grunted. There are men like that unfortunately. They get no pleasure out of life, and hate to see others get any. The chap that has no use for tobacco is to be pitied. Only the smoker knows the joy of smoking. It’s a very harmless pleasure, too. Choose your tobacco wisely, that’s all, and avoid brands loaded with nicotine, as most of the imported leaf is. Our Toasted New Zealand tobacco is the stuff! The toasting neutralises the poisonous nicotine, so that you can smoko all you want with absolute safety. Toasted leaf has a most delightful flavour, by the way, and a rare fragrance of its own. There are only four brands* Riverhcad Gold, Cut Plug No. 10, Cavendish and Navy Cut No. 3