RETURNING CONFIDENCE

Waikato Times, Volume 112, Issue 18805, 29 November 1932, Page 2

RETURNING CONFIDENCE

CONDITIONS IN ENGLAND. MORE CHEERFUL OUTLOOK. • AUCKLAND, Tuesday. In the opinion of a New Zealander who returned by the Aorangl yesterday there Is in America more visible evidence <Jf the persistence of depression than .ther Is- in England. The contrast is revealed in the lethargy and uncertainty which arc still characteristic of the outlook In America, whereas sentiment In Britain ifas become resolute If not buoyant, and there has been a gradual revival of the spirit of confidence which has been so heavily oppressed by tile events of,the last three years. Recovery In Britain dates from the announcement of the war loan conversion scheme, an event that had a dramatic effect upon public opinion, and when progress has been sufficient to permit historical retrospect it will probably lie found that the flow of the tide has been stronger and fuller in Britain than in any other country. The forces of adversity have not yet been overcome, but there were definite manifestations of a more cheerful and confident outlook. Salutary influences are at work in the United States and Canada, but they are not flowing so near the surface. Expansion In Industry. The traveller abroad Is constantly confronted by evidence of the ravages of economic convulsion. Yet the fact remains that the stagnation of industry and commerce is relative rather than absolute. Low prices, have undoubtedly stimulated consumption, especially of foodstuffs and rhetorical descriptions of vast accumulations of wasting commodities tend to be misleading. Inquiries in business circles in various cities generally elicited information rtf gradual expansion In trades and Industry. The strongest impression of conditions in Britain, Canada and the United States is that influences conducive 1o progressive recovery are gaining strength, and that vigorous and resourceful people are now confronting their difficulties with more confident determination. PEOPLE SPENDING MORE. WORST PERIOD PASSED. WELLINGTON. Monday. “If our trade is an index lo purchasing power, which I think it is, then people are spending a little more this season than last season. I think there is more purchasing power and confidence than there was," said Mr M. Tat ham, who arrived by tho Maunganul from Sydney to-day. Mr Tatham belongs to the firm of Cadbury Bros., England, and lie has spent the last few weeks in Australia. In England, lie said, the situation xvas perhaps a little easier. People there seemed to agree that Die country had passed through the worst period of the depression.