FINANCE AND TRADE.

New Zealand Herald, Volume LVII, Issue 17660, 22 December 1920, Page 8

FINANCE AND TRADE.

POSSIBILITY OF A SLUMP.

SIR T. MACKENZIE'S VIEW.

TROUBLES CAN BE OVERCOME. [m* TELEGRAPH.— OWN CORRESPONDENT.]

CHRISTCHURCH, Tue ß day.

In an interview to-day Sir Thomas Mackenzie discussed the financial and trade position, particularly in the light of his experience as High Commissioner for New Zealand in London. / - Referring to rumours of a slump he said: "Ihere is no real danger. The crisis, with care and' knowledge, may be surmounted. New Zealand's producing capacity is unimpaired and the markets on the whole are satisfactory if they are properly handled. We have suffered a gTeat deal by the methods of the requisition of both meat and wool. The effects of that will be felt for some time, I fear, but there is no reason why we should be unduly pessimistic. Meat and dairy produce are sound propositions and if the idle Continental machinery is put into operation and the manufactured woollen article is placed' within reach of an eager public at a price within, their ability to pay, the wool situation will be eased sooner than perhaps some people anticipate. In the large sums have been spent on exhibitions. Mr. Massey stated that £25,000 was spent on an American exhibition. An exhibition is proposed to be held in the Old Country in 1922, and £25,000 will have to be spent on it also.* I believe that money spent on exhibitions is largely thrown away. People do not carry away from an exhibition an adequate impression that will widen the trade of the exhibiting country. A sum spent in other directions under capable control will bring much better returns than if it is spent on exhibitions. The Government should consider whether an expenditure in' that respect might not be used for safeguarding New Zealand's farming, and trade interests overseas."