TRADE CONDITIONS.

Sun (Christchurch), Volume VII, Issue 2126, 7 December 1920, Page 8

TRADE CONDITIONS.

IMPRESSIONS OF MANY COUNTRIES. A BUSINESS MAN'S COMMENTS. After visiting Australia, Java, Singapore, China, Japan, the United States, Canada, England, Belgium and France, Mr H. S. H. Manning, of Christchurch, considers that the general position is unsettled, and that prices are inclined to weaken, in most cases on account of lack of accommodation and other financial conditions. In all the countries he visited, high costs had {■educed consumption. So far from he cost of labour decreasing, the demands for more wages were incessant. When Mr Manning was in the United States, several factories had. closed down absolutely because they could not manufacture at a profit. He was told that on top of the high wages came the fact that workers Were working up to only two-thirds Of their capacity. After a term of unemployment, some employees asked to be reinstated. Factories that had work on hand usually agreed to open again, provided that lower wages were accepted. In some cases employers demanded a guarantee that more work should be done per man per day, and that the guarantee should be backed by something more substantial than writing; in other words, that there should be financial backing behind the unions. In England, workers did not seem to be inclined to accept less than they were receiving, and there were Signs of the cost of living coming [own. Many factories had closed when Mr Manning was there; others were on short time. 'Tf trade with Russia is resumed," he said, when discussing the position, "an immediate change will be brought about in the conditions in England. The present position will be eased very soon, also, if satisfactory means are found for financing European countries— Germany, France and Austria—on long terms of credit. I do not expect things to be very much cheaper in the immediate future, except lower prices brought about by local conditions, but possibly in 12 months we will see a difference. I do not think that the reductions in prices In the near future will be so great that the public will be able to appreciate them to any extent. The world's retail trade, as far as I can learn, is good; consumption continues at the same rate as during the War. Conditions seem to be better in Can?da than in the United States. The act that exchange from the United States is against the Canadians has considerably helped local industries In Canada."