GOOD YEAR COMING

Poverty Bay Herald, Volume LX, Issue 18256, 27 November 1933, Page 9

GOOD YEAR COMING

N.Z. SHOULD SHARE RECOVERY IK BRITAIN An encouraging view of the outlook in Great Britain, and of the prospect of a favorable reaction in New Zealand, was taken iby Mr Henry Horton, managing director of Messrs. Horton and Horton, Limited, 'publishers of the Auckland Herald, speaking in Wellington on his return by the Rangitaac from a visit to England. “The trade improvement in Great, Britain was steadily moving forward when we left England five weeks ago, and it was conceded that the depression was really passing, ” Mr Horton said. “The outlook is brighter now than it has been for a long time, and New Zealand can certainly look for a good year in 1934, unless something unforeseen happens, “I was very much impressed with the amount of building that is going on everywhere in Great Britain, especially in the outer suburbs of London. Fine brick houses, well designed by good architects, arc being erected by syndicates at a rapid rate. These houses are fitted with modern conveniences, are very cheap, and are being taken up almost as soon as they are built.

“Seeing this building activity abroad brings the thought that New Zealand might help its unemployment difficulties by encouraging building, j o do this the first thing required is to facilitate the provision of finance by private enterprise, and liofoiie this can be done Parliament must; reinstate the position of a mortgage as a sound and reliable security. .MORTGAGEE MUST BE REASSURED

“Tii order to protect tho mortgagor in bad times we have passed legislation that has made, a mortgage an unreliable and unpopular form of investment, with the result that we have hampered development and increased unemployment. There is an urgent and immediate call tor Parliament to remedy all this if we are to enjoy our full share of returning prosperity. “With regard to our exchange rate tlm business people in Great Britain say that while it hampers their trade they must admit we have, the right to manage our affairs as we think bestThey only hope that conditions will soon ju-rify a reduction. “1 was surprised to find what a reasonable view most people had taken of the matter.

“What the English traders are most outspoken about, is their dislike o' Australia’s very higli tariff on British goods. This is a greater source ol annoyance in England than the exchange rate.”