CONDITIONS ABROAD.

New Zealand Herald, Volume LXIX, Issue 21160, 18 April 1932, Page 11

CONDITIONS ABROAD.

AMERICA'S LOST MORALE.

BRITAIN REGAINS CONFIDENCE. " The thing that- struck me most in •America was the fact that they seem to have lost their morale," said Mr. J. L. W yesterday. Mr. Law is a cotton goods manufacturer, of Melbourne, who is a through passenger back to Australia by the Aorangi. Conditions in America are practically chaotic.. They are drifting," he said. They realise that they do not have the financial knowledge possessed by Great Britain, and they are looking to England for a lead. I should say that to-day there is a better feeling of goodwill toward England than I have ever experienced in the States before. They realise that England W doing her utmost to pay her way and Keel her debts, and the regard in which she is held in the United States is very high. In niv opinion the troulile in the Lnited Sintes is the failure of prohibition. ■lt has given such opportunities to ganganrl its enforcement is costing '000,000,000 dollars a year. The statement appeared in the New York papers while I was there that there are 30.000 speak-eiisies' openly operating in New iork.

Jhe president of the American Federation of Labour made t lie statement t ,,a t there were 9.000,000 people out of work and 40,000,000 who were not getting Sufficient food, clo hing and shelter to * ee P them at a reasonable standard of comfort.

'ln England tho opinion is held that the country's export trade will so expand America's export trade will so diminish that in a year or 13 months the demand for sterling will raise the exchange rate to six dollars to the pound." "r. Law found sicrns of greatly increased activity in English textile factories and for orders that could previously have br>pn filled in three weeks Manufacturers were now asking four Months. " One cannot help feeling that he Old Oountrv is rapidly coming to the ore >" said Mr.' Law.