BRITAIN'S RECOVERY

New Zealand Herald, Volume LXXI, Issue 21919, 1 October 1934, Page 11

BRITAIN'S RECOVERY

GREAT BUILDING ACTIVITY AN OPTIMISTIC OUTLOOK [BY TELEGRAPH —PRESS ASSOCIATION'] WELLINGTON, Sunday "The only depression I saw in England was while the test cricket matches were on," said Mr. S. G. 'Nathan, on his return to Wellington by the B emuera to-day from a visit to England. Mr. Nathan said he was particularly impressed by the immense amount of building activity gping on in England. There were thousands and thousands of houses in course of construction, and the money question seemed to present no difficulty at all. Anyone who could find 10 per cent of the cost of building a house would have no difficulty in obtaining credit for the other 90 per cent, either from the Government or from one of the big financial institutions. Interest was at 4J per cent on table mortgage. So far as the mortgagor was concerned the position :in England was improving. What astonished him, said Mr. Nathan, was the wonderful value one could get when buying a new house in England, as compared with prices ruling in New Zealand. A £7OO or £BOO house in England was something one would feel proud to possess. The general impression of the visitor to London was one of universal prosperity. _ . i —: SECONDARY INDUSTRIES GBEAT IMPROVEMENT SHOWN " All the secondary industries in Great Britain, especially the housing trade, have made a splendid recovery," said Dr; W. G. Fern, an English business adviser, who arrived by the Aorangi yesterday on a lecture tour of the Dominion. The motor trade also showed considerable improvement and altogether he was confident Britain was definitely on the up grade. "It is a fact that New Zealand is the least-known Dominion in England," added Dr. Fern, " but the New Zealander has wonderful prestige in the Mother Country." If the Dominion advertised its attractions more, the tourist industry could be increased enormously. In England there had been a " tourist fervour " in the past three years. Commencing with short cruises, the traffic developed into trips to more distant parts. Although trips to New Zealand were necessarily expensive, the tourist traffic could be developed to a considerable extent and there was no reason why the Dominion should not benefit from the desire of English people to travel. " During my six weeks' visit to the Dominion I do not propose to tell the country how to solve its currency problems, but I can say what business men in England are doing to regain prosperity," lie added. Dr. Fern will give a free public address in the Town Hall concert chamber to-night, at which Mr. J. A. C. Allum will preside. He lias lectured in Europe, Africa and America, delivering on an average 300 addresses each year.