CANADIAN TRADE

New Zealand Herald, Volume LXXV, Issue 23011, 12 April 1938, Page 8

CANADIAN TRADE

BUSINESS BUOYANCY UNTOUCHED BY RECESSION EXPORTS TO EAST AFFECTED [BY TELEGRAPH —PRESS ASSOCIATION] WELLINGTON, Monday "Although the United States recently felt the effects of the severe financial recession. Canada was unaffected,'' said Mr. Duncan A. Hamilton, a leading Canadian financier, and president of the Vancouver News-Herald, a big British Columbian newspaper combine, who arrived by the Empress of Britain yesterday. He added that Canadian stocks were still well up in spite of the fact that Wall Street had suffered a frightful drop in recent weeks. Mr. Hamilton said that even since his departure early in the year trade with the Orient had sustained a considerable blow, due to the SinoJapanese war, as a result of which the big export business of shipping lumber and fish, two of British Columbia's main products, had been cut off almost entirely. On the other hand, ports were carrying an increase iii freights, due to the passage of war munitions on their way to the belligerent armies. "In Vancouver it is very interesting to see the Japanese and Chinese elements living side by side at peace without animosity, while their respective nations are engaged in such a sanguinary war," continued Mr. Hamilton. "There is a big Chinatown arid a big Japanese quarter also at San Francisco, but there is no inter-racial hostility manifest. They do not know what this war is all about, so they do not let it trouble them." deferring to Canadian trade again, Mr. Hamilton said the reason Canada had been so little affected bv the Wall Street'fall in values was perhaps that she had not experienced the same inflation during the boom period preceding it. To-day investors were flocking into Canada and Canadian securities were still topping the market. "British Columbia is greatly interested in the production of news--1 print, one of her major industries, and i ships a great deal to Japan and to I Australia," added Mr. Hamilton. I "Canada has an inexhaustible supply of natural forest, and, as there is a solid conservation policy in force, it is in 110 danger of wasting its forests as New Zealand has done with a great j part of its forest."