TRADE PROSPECTS

New Zealand Herald, Volume LXXI, Issue 21912, 22 September 1934, Page 14

TRADE PROSPECTS

VIEWS OF TRAVELLER HOPE FOR THE FUTURE RUSSIA AND THE EAST "Prosperity is here in New Zealand, but it has not filtered through to the men in the street yet," said Mr. Arthur Edwards, a world traveller since 1007, representing an old English light steel manufacturing company, speaking to a Post reporter prior to his departure for England after several months in the Dominion. For several years Mr. Kd wards has had his headquarters in Japan, whence he has travelled between China, Straits Settlements, Russia, and the East generally. World conditions have changed beyond recognition since ho set out with the ever-constant vision of "keeping nearly 3000 workmen constantly in employment." "Iron, steel P Things are improving, going ahead. Getting business everywhere; no trouble," remarked Mr. Kdwards. "Iron is more in demand than ever; in 1934 moro in demand than for the last three years. "Russia? The state of affairs there is -just hell! The people are literally being starved for the sake of the grandiose plans they have set. On the trains from Siberia to Russia I saw people buying eggs at Is apiece to take to Moscow because there either eggs are not to be had or only at much" dearer prices; buying for resale —hen's eggs. Everybody's afraid of everybody else —of talking, brother to sister, parents to children." No Private Business "Can you conduct business with certainty in Russia?" "No," replied Mr. Edwards. "Anyone going to Rusisa and who only sees from the Polish frontier to Moscow and Leningrad sees nothing. Those trains are beautifully fitted up —flowers and fruit on the dining car tables, as propaganda. But they can't keep it up on the through express, on which tho food is bad and very expensive. At many places you can see people lined up in queues to secure boots, sugar, tea, etc., from the Government distribution places, but before half the crowd gets anything the queue melts away as there aro no more supplies. "I did not attempt to write up any business there. The only business done with Rusisa is done in London through the British Government guaranteed credits. It's all Government business; there's no private business. I was only looking over the ground and making inquiries.

"Every market in the world is shutting down on us and we are compelled to look for reciprocity to other countries, Dominions, and colonies from whom we buy. We are buying produce from New Zealand; we cannot go on doing it unless New Zealand goes on buying as much as possible from us. Trade with the East "I believe the exchange has been and is beneficial to New Zealand under the existing world financial conditions; it enables her to export. But it is somewhat to our detriment because it restricts imports. I could say a lot about exchange! .'"Exports from the East are booming. The Japanese exchange, for instance, is down over 40 per cent. That means exports, and curtailing of imports. We have done immense business in the past in Japan —but it is dead, gone, buried! I had my headquarters thero for years. "Everything has changed all over the world. Countries that, used to import are manufacturing: I am a great exppnent of Empire trade and have spoken on the subject everywhere. It is the only salvation for the whole Empire. It is working that way by economic necessity.