PORT OF LONDON.

Star (Christchurch), Volume LXVI, Issue 20275, 9 April 1934, Page 7

PORT OF LONDON.

Work Traced by Captain Pearse. A HUGE UNDERTAKING. “ The Port of London Authority and its work ” was the subject of an address given by Captain A. \V. Pearse, Sydney and New Zealand representative of the Authority, at a luncheon attended by members of the Canterbury Chamber of Commerce in Ballantyne’s to-day. In addition to his address Captain Pearse showed a number of slides dealing with the Port of London. Mr A. F. Wright, who presided, said that Captain Pearse had had a long association w T ith New Zealand and was well known as the founder of the “ Pastoral Review.” Captain Pearse traversed the growth of the port from the time of the early traders until the present day, when the Authority employs 24,000 people and has 700 policemen. He dealt interestingly with the diverse operations of the Authority. “ I spent several months in England last year and it was very apparent that the depression was fast disappearing,” declared Captain Pearse. “ I saw no beggars and no ragged people : particularly was this so in the south of England. London and the southeast is without doubt the most prosperous part of the country, and the unemployment is much less. This means that there is much greater spending power within the economic radius of London and therefore the best place to sell produce. London is still the financial centre and money market of the world, and exerts a magnetic power in international trade. Bills of exchange on London are the currency of the world’s commerce, and there the smallest shipper of produce can hypothecate his documents on the best terms. Exporters and importers can make more advantageous financial arrangements than in any other market. The London Market. “ The London market attracts the largest number of buyers. All goods that enter it can find a buyer and producers who ship their produce to London know that their sales are assured and in the long run at the best prices, particularly for prime goods which New Zealand produces. There is more money in the south to-day and more business, than ever before. Hundreds of new industries have grown up since the war in the Home counties. Southern England and, in particular, the Greater London area, is the richest section of the British Isles to-day. London is the best selling territory. Within twenty-five miles of the docks there is a population of nearly 12,000,000 people, the vast army of tourists make London their headquarters and all the fashionable seaside resorts buv their requirements in London. To emphasise the importance of London as a consuming and distributing centre it 20 nnn nhn t 0 ™ enti ? n ed that some 20,000,000 soul§ live within economic reach of the metropolis.” Pearse was accorded a vote ot thanks on the motion of Mr Norton Francis.