OPTIMISM IN BRITAIN

Taranaki Daily News, 24 November 1934, Page 12

OPTIMISM IN BRITAIN

IMPROVEMENT IN STEEL. BOOM IN MOTOR INDUSTRY. Wellington, Nov. 21. Tlie spirit of optimism apparent from the economic point of view in the United Kingdom was commented on byMr. R. Campbell Browning, an English business man, who is making a fortnight’s visit to New Zealand. He arrived at Wellington to-day by the Rangitane from London. “The feeling in England is made all the more remarkable by the strong pessimism on the Continent,” he said. All visiting foreigners are amazed by the general atmosphere. When I think of our taxes I find the optimism hard to understand, but when a country gets a 3M per cent, conversion loan up to £lO5 10s it shows that the people have great confidence in the future. When I left London, reports were continually brightening concerning the great manufacturing trades, principally the steel trade, but, of course, always with the exception of shipping. “The steel trade has been in the dumps for a very long time, but now it is comparatively good,” Mr. Browning continued. “The motor trade is booming. There are now, by the way, extremely few American cars to be found in England except those models actually manufactured in the country.” It is estimated that approximately 3200 acres of perennial ryegrass and white clover pasture will be entered for certification in Hawke’s Bay this season, states the Napier Daily Telegraph. This acreage is a decided decrease upon the 4693 acres entered last year, and is less than a third of the 10,000 acres entered in the previous season