RETURNING PROSPERITY IN BRITAIN

Northern Advocate, 8 December 1936, Page 5

RETURNING PROSPERITY IN BRITAIN

[Per Press Association. Copyright .] WELLINGTON, This Day.

Sir George Shirtcliffe has returned to Wellington by the Akaroa impressed with the prosperous nature of Britain. There was no doubt that the recovery had been steady and had been based on traditional business lines, he said. Many trades and industries were paying dividends of from 10 to 15 per cent, a few were returning 25 per cent, and others were making the nominal profits. Wages were good and unemployment greatly reduced. Undoubtedly some of thp increased productivity was due to the demand for armaments. New Zealand trade with Britain had been satisfactory, he continued. That, no doubt, was due to the improved economic conditions in the United Kingdom. An increase in the number of persons in employment and also in the circulation of money in the form of wages had been the chief contributing factors. The Dominions guaranteed price scheme had perturbed the market. The Tooley Street merchants who had been appointed agents would do their best for New Zealand, but there was bound to be opposition from those traders not reappointed. The Government prohibition of f.o.b. and c.i.f, purchases had eliminated the speculative factor, which Sir George considered, had been to the Dominion’s advantage, and the new policy would adversely affect prices.