TRADE PROSPECTS

Wanganui Chronicle, Volume LXXVI, Issue 17755, 2 January 1920, Page 3

TRADE PROSPECTS

BETTER THAN EVER. CHAMBER OF COMMERCE PRESIDENT OPTIMISTIC. Mr C. M. Luke, president of the Wellington Chamber of Commerce, referring in conversation with a Times representative to the trade prospects of the New Year, said: "In my opinion, the present outlook for the trade of the Dominion is better than at. any period of our history. This is in very large measure due to the high prices of our primary produce now ruling—prices which I believe will continue for some years to come. Naturally these products must form the larger pro portion of our exports, but the conditions throughout the world point. I am convinced, to the opening up of great opportunities for the development of our manufactures, generally known as our secondary industries. The opening up of these greater opportunities will, I think, be brought about mainly by two factors. One of these is the higher standard of living which must now prevail throughout Great Britain and the rest of the world, thus enhancing the cost, of manufacture and thereby enabling us maintaining, as we always have and I hope always will, higher social conditions and a higher proportion of the comforts of life for our workers than most other countries, to compete to greater advantage than in the past. “Another factor that should tend to improve the prospects of our manufacturing industries is the fact that so many of our raw products constitute a large proportion of the total value of the manufactured articles, as, for instance, in the case of woollen goods, and in that of boots and other leather goods. With a wide vision and with courage to grasp the opportunities that are offering, the development of our means of transportation and especially the development of our hydro-electric power throughout the Dominion should prove tremendous factors in increasing production and cheapeni.ng the cost, of our manufactures.

“Given a proper understanding between Labour and Capital, as they are generally called —between those who invest their capital in these industries and those employed in them —I see no reason why we should not experience a phenomenal increase in production and in wealth generally. In these matters, I maintain the best interests of the Dominion can best be served by mutual good understanding and by each side conceding to the other its fair share of the increased wealth that the increased production must bring about.”