THE Wairarapa Age MORNING DAILY. WEDNESDAY, JANUARY 6, 1926. BRITAIN’S POSITION.

Wairarapa Age, 6 January 1926, Page 4

THE Wairarapa Age MORNING DAILY. WEDNESDAY, JANUARY 6, 1926. BRITAIN’S POSITION.

A prominent London business man recently gave a Masterton audience a more pleasant picture of trade conditions in the Homeland than had been presented through the medium of impressions of New Zealanders who had travelled through Britain. Our visitor demonstrated that the Old Country was by no means played out, and that business was reviving. His statements are thoroughly corroborated by the last issue of Barclay’s Bank “ Monthly Review, ’ 1 which surveys in careful fashion all the leading British industries, and speaks hopefully on one of the key industries, iron and steel. In spite of a depression under which this industry suffered for some considerable time, the 4 4 Review” points out that Great Britain has more than held her own in relation to other countries in the production of steel ingots and castings, for whereas the 1913 production amounted to 10.2 per cent of the world's output, Britain’s production in 1924 was 11.4 per cent of the\ world output, and the quantity was not only relatively, but actually larger. The Locarno pact is regarded by Barclay’s as likely to steady and improve the business position of Britain and her Continental customers. “The progress made at Locarno should, by increasing security in Europe, enable expenditure on armaments to be reduced, and more attention to be devoted to financial and economic reconstruction—a development which should considerably facilitate trade expansion.” The most recent unemployment statistics are also regarded by the same authority as encouraging. On October 19th last the Chancellor of the Exchequer was able to show that if the figures relating to the mining industry were excluded—and this industry is in an exceptional position—there were 150,000 fewer unemployed than was the case a year ago. Visitors to the Old Country hear of the “dole” and talk of it as if it constituted some form of charity very easily picked up. But the real fact is that the so-called dole is certainly not carried wholly by the taxpayer, anj as to whether it should exist at all in normal times, there are good business men, who are also humane, who consider that as many industries are of a seasonal character, and others need to have a surplus labour market for economical operation, some form of compensation for unemployment is a fair charge on industry.