NOTES AND COMMENTS.

New Zealand Herald, Volume LXVII, Issue 20607, 4 July 1930, Page 12

NOTES AND COMMENTS.

THE CONTEST FOR MARKETS. That the future of British trade depends chiefly on the encouragement of youth and tho spirit of adventure was strongly insisted upon bv Sir Charles F. irighani when he received from tho hands of the Lord Mayor of London, Sir William Waterlow, the cup of the London Publicity Club in recognition of his services "in and for" advertising. Sir Charles said that to-day the British Empire was fighting the world in a war for trade. In this war the weapon of advertising was not, being used as it. should be used. "We aro not pooling our sales knowledge iri the fight. We must wake up to tho need of jiushful selling. Wo need to combine the old spirit of the merchant, adventurers of the past with tho mightly power of modern advertising and selling and then wo can beat the world. We must welcome, not resent, new ideas. We giust give youth its chance. The old-fashioned heads of business must retire. Every trade must combine its resources and work for a common end. We must sell more or sell out. My industry is ready to do its part. On better selling depends tho future prosperity of our country —we have everything else." FOREIGN LOANS. A protest against the argument that, tho floating of foreign loans in London is prejudicial to British industry "by depriving it of capital was made by Sir Eric Harnbro at the annual meeting of Ilambros Bank. " When a foreign loan is issued the proceeds of that loan can only bo made available to tho borrower in sterling," ho said. " Tho sterling can only be transferred into foreign currency by a purchase of British goods and services, a repayment of debts owing to England, or an export of gold from England. It u only the last method that can in any way hurt British industry and we know from past experience that this method only becomes operative as a last extreme. I, therefore, regard as unnecessary any officials restriction of loans to foreign countries. Funds for foreign investment aro derived from tho country's active trade balance, and (his is not, unlimited; issuing houses know well enough when the margin of safety is likely to be reached. Funds for domestic investments are of a different order; they aro derived from tho savings of the country irrespective of its trade balance. But the point which I wish to emphasise is that it is just as important to finance the buyer of British goods as it is important to finance tho seller, and that form of banking which we practise normally has been tho necessary concomitant of the development of British industry. Even if we are now (o place our issuing power more directly at, fho disposal of British industry, we shall not, I hope, iti tho interests of the same industry, discontinue to finance its customers." I FIUIIT TREES TN TTIE GARDEN. "It, is the overwhelming amount of inedible fruit that is grown that needs an impassioned crusade," writes Mr. E. A. Bunyard in The Countryman. "All this inferior fruit is not only waste in itself, but waste of the fruit trees' energies and tho chemical resources of the soil, a drain on capital which must be replaced if bankruptcy is to bo avoided. The remedy is, of course, thinning; vigorous and long-visioned thinning of branch, (lower and fruit. Most standard trees in garden or orchard would benefit immensely by the removal of half of their branches Cut out those crossing branches, let the light and air into the treo with the dour energy of a Priest of the inquisition confronted by the schisms and heresies of his day. To what purposo do we conserve a bunch of 30 fruit buds when there is only room for three fruits? Visualise the fruit on the tree fully grown and well exposed to the sun—this is all there is room for." To the layman who hesitates to distinguish fertile from unproductive growth, Mr. Bunyard advises rigorous thinning of (ho (lowers, leaving only such well-placed branches as will have all tho light and air they need. It i 3 a commonplace in Kentish orchards that half a crop o( blossom sels more fruit than a full one, and if 5 per cent, of the (lowers come to fruit a good crop results. A last chance for the timorous is thin the young fruit soon after it is set