TRADE IN BRITAIN

New Zealand Times, Volume LI, Issue 12008, 10 December 1924, Page 7

TRADE IN BRITAIN

} STEADILY IMPROVING •THE ONLY COUNTRY PAYING ITS WAR DEBT." MANY INDUSTRIES ACTIVE. Trade in Great Britain to-day is in quite a fair state, but in America manufacturers are experiencing a hard time. That is the opinion of Mr A. E Smith, of Smith’s Motors, who recently returned from a business tour of the United States and Great Britain. In practically every industry, said Mr Smith, business has brightened and full hours are being worked. The trades which do show slackness to any marked degree are ship-building and those concerned in the iron and steel manufacturing centres. The slackness in the shiji-building trade, added Mr Smith ii the primary cause of the slackness in the iron and steel business, aa the latter depends on the atate.of the shipbuilding market for its prosperity. i BRITAIN AND THE WAR DEBT. , “A great deal has been said.” coniinuod Mr Smith, “of the amount of unemployment in England, but it mu9t be remembered that even when conditions aro at their best, with such an enormous population, there are thousands who are out of work or who won't, work. The best answer to those who criticise the prosperity of England is the fact that Great Britain to-day is the one country in the world which is paying off her war debts, while France, of which wo hare heard quite a lot ns to her commercial prosperity, has so far made practically no move.’' As an instance of the manner in which Great Britain is regaining bet position in the commercial world, Mr Smith referred to the artificial silic trade. A few months ago a cabled an. Itouncement stated that Italy had can- ] tired Britain’s trade in this commodity. This was»wrong, said Mr Smith. At Coventry he saw huge factories, emfJoving’EOOO to 10,000 workers, working ul] shifts on the manufacture of artificial silk. t “Taxation is still high at Home,” he added, “but the country ns a whole seems to be cheerfully abiding by it. Everyone agents to realise that as soon as Britain’s debts are paid off taxation will be _da creased, and the majority of ( tho business people are doing their ut. i most to bring- about this state of affairs ” j V THE BRITISH ELECTIONS. 1 _ Speaking Regarding the British elections, which occurred a few days after Mr Smith left for New Zealand, he said that the result .was a foregone conclusion among the commercial /community, although- it was not expected that there would be; such a sweeping victory for the Conservative Party. , “Trade conditions in the' United (‘States during July were bad.” hn.said. ‘ ‘Over-production had occurred' in 1 nearly every line, of business. The re- ‘ suit was that every class of manufacturer had large quantities.of unsold goods in stock.” Many of the smaller concerns were finding it difficult to keep afloat owing to the pride-cutting j tactics of the larger manufacturers in order to ease their stocks. The slump (not only applied to motor-cars, but to ■ every other variety of business. In all the large cities sales were’being held li shops «nd disposed qf at ridiculously . low prices. .’