NEW TRADE LEVEL,

Waikato Times, Volume 110, Issue 18518, 24 December 1931, Page 10

NEW TRADE LEVEL,

RESULT OF DEPRESSION. RECASTING OF IDEAS. Observations on his recent • trip abroad were made Mr M. W. McHardy Forman managing director of General Motors, 'New Zealand, Ltd., in an interview with a Wellington Post reporter. Mr Forman returned to Wellington by the Maunganui from Sydney after having made a business tour through tlio United Slates, Britain, France and Germany. “My first impression upon arriving in the United Stales was one of realisation of the severity of the financial crisis through which the business world had been passing,’’ he said. “Jt was just two years since I visited New York, and at that time the first- signs of the business depression into which llie world was entering were just being felt. Those with whom 1 came into contact then were of the opinion that the setback would be only something of a temporary nature, and that in a few r months the tide would have turned. To-day, those men are of the opinion that the depression having been sustained over so long a period, business is setting for ilself a new normal level, and that in consequence, ideas must be recast to conform with circumstances as they exist to-day, and that it is necessary to stimulate trade by recognising this and forc"casting the future along ihese lines instead of waiting, thinking that good times will return. . This atmosphere, in all the countries 1 have visited, is apparent, and the facts are being laced courageously.

Business Going Forward. “Although the immediate outlook is not over rosy, it lias not deterred the business of the world lrom going forward and making improvements in the quality of the products at lire present day values. Innumerable instances can be quoted where improvements have been made despite the bad times; This particularly in regard to aircraft, radio, motor-cars, etc. One of the most striking points, to my mind, was that, despite the depression, research work in all its branches was forging steadily ahead. “To the casual traveller in the larger cities of New York, London, Berlin and Paris there does not appear to be any lack of money, especially for amusements. The theatres, pictures, and restaurants seemed to be doing just about as well as ever. “On reaching Australia it was pleasing lo note the quiet air of confidence of both Australians and New Zealanders and the satisfaction of those returning, that Hie loyalty of these citizens in these countries of Hie Southern Hemisphere was undoubted, it was confidently felt that those countries would again soon be on an oven keel and ready for any revival In trade from the Western world, in every country visited New Zealand was spoken of in terms of solidify. As a matter of fact, it really makes one feel proud to belong to this country when out in oilier parts of the world. “The business on which I left Hie countrv was entirely cl a corporation nalure'and would be of no interest to I Ik' general public, but it may lie intcresling to note that I was successful in making arrangemcnls for the Yauxhall factory to ship lo New Zetland chassis in an absolutely unassembled condition, and that whom Hie next few weeks 1 hope Ilia I l-fi•’ assembly plant at Petone will not only be building Ihcsc chassis but also manufacturing the bodies for them in Ihe plants’’,