ADVICE TO BRITONS.

Waikato Times, Volume 99, Issue 16545, 14 July 1925, Page 9

ADVICE TO BRITONS.

SHOULD WORK HARDER

U.S. FINANCIER'S VIEW

Mr Richard D. Wyckoff, an American financial authority and editor of the Magazine of Wall Street, who has arrived in London after studying the financial conditions in Europe, is convinced that the industrial depression now so severe in England is likely io have a tremendous reaction through-out-the world.

To *a reporter he said: "Men and women in this country arc not working hard enough individually. You have your unemployed, it is true, but it is only by every employee who is if. work working to full capacity that greater employment can be achieve] and greater output realised." Referring to figures showing the import and export trade of Great Britain, he added: "They tell the tale of slackness in British factory output compared with that of Prance and Germany I have seen and studied work in those countries, and I am convinced that Great Britain must workharder, turn out more goods, and strive to regain her old markets —and new ones, where her goods are needed —to reduce the present industrial depression and to prevent it from becoming a menace to the rest of the world. Every nation depends upon Great Britain's industrial strength, and that strength must not be allowed to waste away. Germany is making gool industrially as fast as every individual worker can make it. Her workers seem to me to be putting their shoulders to the industrial wheel with a great deal more determination than the workers in the rest of the European countries."

Misused Dole.

Mr Wyckoff believes that Britain Is making a big blunder by continuing the dole. He said: "A few weeks ago I saw in tho Daily Mail an excellent letter suggesting that the dole.should be applied to the subsidising of Industry. That is a very right and proper scheme to adopt, and It is something of a mystery to most people In the realm of international commerce that such a plan has not been long since put into force. I believe, as all people do both in the United States and on the Continent, that your leaders of Industry would be ready to meet the greater factory output accruing from harder individual work with a considerably greater expansion of marketing. Far fewer people are now permitted to enter the United States and the different British Dominions in search of work, and sooner or later those avenues of employment abroad will not exist at all, owing to the increasing population among those who have already established themselves. .There is another aspect—that of science and research in industry, which are swiftly making old industries obsolete. In the United States coal is rapidly being superseded by fuel oil. Even the large hotels, offices and houses there are burning fuel oil instead of coal for their heating, power and illumination. It is far cheaper, not so messy, and saves labour. Electrification is another factor that industrialists have to consider, and the workers themselves must also note the stride it is making if they are to survive in the struggle of competition. Sooner or later the world will come out of its depression, but for the time being it is a rather painful process."