AMERICA’S INFLUENCE.

Waikato Times, Volume 116, Issue 19407, 6 November 1934, Page 11

AMERICA’S INFLUENCE.

EFFECT ON BRITAIN’S RECOVERY. Sir Josiali Stamp, speaking fo the Aberdeen Chamber of Commerce on the effect of American recovery on British trade prospects, said that the general outlook had slightly improved since in June lie had drawn attention to the distinct slackening in the rale of recovery. improvement began lo be definite in early July, but although welcome and distinct, it was not very great, and the course ahead was by no means free from difficulty. Serious industrial trouble in any area could easily set it back lo the June level. He regarded the tralllc receipts on Hie L..M.S. railway group as a very good general barometer, even making allowance for some changes in rales and fares. The first hi weeks of UKUI had been only 78.f> per cent of Hie same period of 1929, but for I '.KM il had risen to 82.3 per cent or 1929. The rise of barely i per cent reducing Ihe leeway lo IS per cent slill lo bo made good, was some indication of t ho measure of improvement. That the course was not steadily upward was I ridiculed by the fact lhat Hie thirl y(lf|h week was 50.5 per cent of 1929 and below Ihe year’s average, and only per cent above I DILL Sir Josiali "said that almost al the moment in early July when signs of .strengthening were taking place in Britain, a new'.phase of weakness showed itself in America in business activity. r l lie United Stales was Ihe lasi eounlry that could be successfully planned on Socialistic lines. If individualism were to lie retained as the driving force of Hie machine il was slill necessary lo focus most mi making it easier for Ihe prollls io be made by which ahme uncmploymenl could ho Dually diminished. Under some of I pc codes much adjustment w ould still be required.