SMALLER PURSES.

New Zealand Herald, Volume LXIV, Issue 19558, 10 February 1927, Page 10

SMALLER PURSES.

PEOPLE'S SPENDING P'OWEK

ADVERSE BALANCE OF TRADE. OUTLOOK FOR SOFT GOODS. NOTE OF. CAUTION SOUNDED. [BY TELEGRAPH. —QWS CORRESPONDENT.] CHBISTCHCRCH. Wednesday.

The annual conference of the New Zealand Federation of Drapers, Clothiers and Boot Retailers was opened in Christchurch this morning. About 50 delegates from all parts of the Dominion are attending the conference.

In moving the adoption of the annual report of the advisory board t Mr. P. L. Halsted, the president, said :-r"lt •is to to be regretted that our efforts to secure the abolition oI the cash on delivery parcel system have not borne fruit. I would express the hope that these efforts be not relaxed and that by sheer persistence we shall be able to convince the Postmaster-General that action in the direction we desire will be to the benefit of the Dominion.

"I sincerely hope that the conference will give full consideration to the question of delaying the opening of tho seasons by, say, a month, which if given effect to would be for the benefit of the whole trade. The trade outlook at the present moment deserves your consideration. For Some months past the spending power of the people has been materially reduced, and this state of affairs will continue until, such time as the adverse balance of trade is rectified. We are now spend-

ing in execess of our-income, a very unhealthy state of affairs. I am glad to note that during last year the imports have decreased by £2,566,844, but they will need to be reduced a great deal more before the adverse balance can be corrected. "Motor-cars and accessories are very largely responsible for the adverse trade balance, but I vvould ask you to carefully consider whether we in the drapery and allied trades are doing as much as we should to help feo reduce it. Are some ,of us not carrying heavier stocks than our turnover warrants ? If we are, then we are not only doing the country harm, but injuring ourselves, as big stocks out of proportion to turnover are uneconomic and must inevitably result in losses to those carrying them." Regarding tariff revision, Mr. Halsted suggested that causes other than inadequate customs duties should be sought as the reason for trade languishing. The conference should set up a small committee to give evidence before the commission on behalf of the whole trade. Such a procedure, would be much more satisfactory than giving evidence in each centre, when possibly contradictory evidence might be tendered. Mr. J. B. Free (Chriatchurch) was elected president for the pext 12 monthß and Mr. G. Ashley (Auckland) vice-pre-sident. Mr. Thomas Forsythe, M.P. (Wellington), was appointed to represent the "federation on the Drapers' Advisory Board. '