ROAD TO PROSPERITY.

Waikato Times, Volume 112, Issue 18703, 1 August 1932, Page 7

ROAD TO PROSPERITY.

LESSON OF ADVERSITY, PRINCE OF WALES’ VIEW. A HARD, BUT POSSIBLE TASK. (Official Wireless.) RUGBY, July 30. When the Prince of Wales visited the International Congress on Commercial Education In London, at which 35 nations were represented, the president,- Mr. Charles Boisseraln, of- Holland, introduced him as “ the first commercial ambassador of the world." The Prince said the hard lesson of adversity had' taught them that prosperity of all nations depended upon tile prosperity of each. In these days of swift transport and communication and interlocked commerce and finance it was increasingly true that the nations 1 could not live to themselves alone. “ This truth is penetrating the minds and Government policies and actions of the nations in a growing measure,” said His Royal Highness. “ Recently it was demonstrated most happily at Lausanne. This international conference may well express its delight that at Lausanne the lamps of hope and confidence were lighted. The spirit of international co-operation and goodwill is burning more brightly than at any time within living memory. “ For this we may all be profoundly grateful. The worldwide trade depression and economic disturbance have been largely caused by the maladjustment of distribution. The potential'output is far greater, than ever before. If all employable labour were employqed for a reasonable number of hours per week the world would have at its disposal a volume of commodities and services whioh would enable the entire population to live on a higher level of comfort and well-being than ever before was contemplated..in, the rosiest dreams of the social reformer. “ The urgent task is to bring consumption and production into proper relationship. It is not a simple task but quite a possible one." A ■ THE BOTTOM REACHED. AN IMPROVING TENDENCY. BETTER TREND OF PRICES. United Press Assn.—Elec. Tel. Copyright. LONDON, July 30. . “ It is at least possible to hope that the bottom of the depression has been reached, even if recovery Is destined to prove slow and to be attended by many difficulties,’’ declares the Economist. This opinion is fortified by the improved tendency in the stock markets, the success of the conversion scheme and Mr. W. E. Borah's war debt pronouncement, to which London financial circles attach great importance. Wall Street’s long delayed revival is also welcomed in Britain. /Commodity prices show a , better trend, especially butter, owing to the likelihood of the early withdrawal of the partial prohibitions against Danish butter entering Germany and Holland. Copenhagen’s quotation has steadily risen in recent weeks.