CONDITIONS IN CANADA

New Zealand Herald, Volume LXIX, Issue 21349, 25 November 1932, Page 12

CONDITIONS IN CANADA

UNEMPLOYMENT PROBLEM

HUGE RAILWAY LOSSES

[BY TELEGRAPH —OWN CORRESPONDENT] WELLINGTON. Thursday

.After being absent from New Zealand since May 3, Sir Harold Beaucliamp returned by tho Rangitano to-day. Sir Harold travelled to England by way of Fiji, Honolulu and Canada, where he spent six weeks. "I have visited Canada on many occasions," ho said when interviewed, "but never did I find her people in such a depressed condition as they were on my last visit." The papers were stating that 35 per cent of the country's workers were unemployed. There were wonderful opportunities, for thoso with money available, to buy gilt-edged investments returning very handsome results.

He had noted some indications of a return of confidence. "But," said Sir Harold, "I am still of opinion that wo cannot look for a real revival in worldwide trade until some definite arrangement is made for the wiping out of the heavy international indebtedness which is strangling trade in all parts cf the world. That, of course, cannot be done unless America falls in with the proposals." Speaking of the Ottawa Conference, Sir Harold said he thought it. gratifying that so much had been achiovcd. The Dominions had not succeeded in getting quite as much as they anticipated, but a good start had been made in the right direction.

Canada had suffered stupendous losses in the running of its railways, but the Federal Minister of Railways, the Hon. R. J. Manion, publicly denied that adverso criticism was justified. Ho stated that Canada paid in interest and other guarantees some 102.000,000 dollars on account of the Canadian National railways last year. That railway had become the biggest problem in Canada to-day and was in a senso Canada's second national debt. Not only did it consume 57.000,000 dollars annually in interest alone, but it owed a billion dollars to the nation.