CREDIT ALL ROUND

New Zealand Times, Volume LIV, Issue 12651, 11 January 1927, Page 8

CREDIT ALL ROUND

HIGH OPINION OF MR COATES CONDITIONS AT HOME “NEW ERA OF PROSPERITY” The high opinion held of New Zealand’s Prime Minister (Hen. J. G. Coates) by the British public, was the subject of comment by Mr H. Horton, of Auckland, who arrived in Wellington yesterday by the Remuera. Mr Horton told a “Times” reporter that he was in England at the time of the Imperial Conference, and he was gratified at the very good impression that the Dominions representative had created in all directions. “It was Mr Coates’s charm of personality, frank sincerity, and absence of glib political phrases that made him so welcome by the English people. He is described as one of the most businesslike Prime Ministers to have visited the Old Country, and the opinion was expressed on ail sides that New Zealand was very fortunate to have found such a capable successor to the late Mr Massey, for whom the English people had a great deal of affection.' The visit of Mr Coates, in my opinion, will do a considerable amount to enhance the very high c/edit that the Dominion now holds on the English money market. It was interesting to note that recently a New Zealand loan was floated in London at between 3 per cent and 4 per cent, for a £IOO of stock, better than New South Wales was able to obtain for a similar rate of interest.” While in America, prior to the termination of the general strike, Mr Horton gained the impression that the people of the States were obviously frightened of the results that would accrue from the upheaval. NO FEAR OF REVOLUTION Only a few passengers made the trip across the Atlantic in the vessel on which he travelled to Great Britain, and most of these abandoned her at a convenient point and proceeded to France. However, the strike was settled by the time he arrived at Home, and there was great jubilation at the fact that the disturbance that had been held as a threat for many years had been tried and had failed dismally. “The public was saying,” went on Mr Horton, “that there was so much sound sense in England that, whatever happened elsewhere, there could be no fear of a revolution there. If there were to be any changes or reforms brought about, they were to be aided by constitutional methods and not by revolution. The coal strike caused a little inconvenience to visitors, and while the losses caused directly and indirectly were enormous the business people seem to think that it has been' productive of good. They hope that the lesson will result in a , more reasonable attitude on the part of Labour, when disputes and difficulties arise in the future. Before the strike there were many signs of a revival in British trade, but of course the trouble was disappointing to the hopes in this connection. When I left England at the beginning of December, however, there was a very optimistic tone apparent. , Factories were commencing to get their coal and making an endeavour to overtake arrears in orders. It was anticipated that, whereas many industries had only been working half time, they would shortly pot only be working full time but overtime as we l .!. This revival may only be temporary, but for some months at least things are bound to be buSy in the Old Country, and a new era of prosperity is promised for this year.”