BUSINESS ABROAD

New Zealand Herald, Volume LXXV, Issue 23085, 9 July 1938, Page 12

BUSINESS ABROAD

ENGLISH PROSPERITY REACTION FROM AMERICA GAUGING GERMAN STANDARDS Business conditions abroad wero surveyed by Mr. Gainor Jackson, when he returned to' Auckland by the Monterey yesterday, after visiting 14 different countries in the last seven months. Mr. Jackson expressed the opinion that England was undoubtedly in the soundest position at present from a business standpoint, and that American internal troubles had reduced consumption in that country to an alarming decree. "The reasons for the American recession are largely political," said Mr. Jackson. "Through heavy taxation the Government has frightened capital out of business, with the result that internal trade has suffered to the extent of from 45 to 50 per cent. Export trade has held up well, as is instanced by the fact that one motor-car concern's' export figures are actually ahead of those of last year although only half the number of vehicles as previously have been sold in the States." Canada had lost about 15 per cent of her internal trade because of the recent setback. The reaction from the recession in both countries could be measured by a reduction of about 10 per cent in general trade in England, added Mr. Jackson. The wheels of industry in the Old Country were turning at top speed, and a great air of prosperity made itself immediately apparent to the visitor. "I was visiting Germany and Czechoslovakia during Hitler's push into Austria." said Mr. Jackson. "Conditions were very disturbed, and all sorts of rumours were rife. It was impossible to get a real impression of German conditions." "There/ are features about Germany that are very desirable, but just as many that are undesirable," added Mr Jackson. "People live in f ear and are not prepared to voice an opinion on any subject in case they should be victimised by retaliation. No one will express dissatisfaction although there is definite feeling about some of the Nazi principles."