INDUSTRY'S RECOVERY

Poverty Bay Herald, Volume LIII, Issue 16389, 11 July 1927, Page 7

INDUSTRY'S RECOVERY

SPEEDY END TO UNEMPLOYMENT PREDICTED

, LONDON, June 2. A rapidly increasing trade prosperity and an absorption of all the unemployed long before the time when the majority of people think such an event possible were prophesied by Lord KyiBant, the shipping magnate, at the annual meeting of the Royal Mail Steam Packet Co.

"I am a believer in trade cycles, which throughout my business life have usually been of seven to 10 years' duration,"' Lord Kylsant said. "It is now just over seven years since the slump began, and I incline to the view that the upward movement, although as yet not very pronounced, lias already started. 1 hope that the heavy burden of taxation which trade and industry are still carrying'may before long be lightened, "If labor troubles can be avoided we should see a. steady and increasing improvement in trade, and within a reasonable time, perhaps sooner than many people anticipate, we may witness such betterment that all those at present unemployed who are employable and desire work may be absorbed back into industry."

Lord Kylsant .spoke of the great opportunities awaiting British trade in the Argentine, whose people, he said, had a natural preference for British goods.

"The fact that latterly the United States have become increasingly interested financially in Argentina and in other South American republics tends to influence trade in that direction," he said, "and it is to be hoped that with a revival of prosperity in this country British capital will be largely invested in South America."