The Press. FRIDAY, AUGUST 31, 1888.

Press, Volume XLV, Issue 7141, 31 August 1888, Page 4

The Press. FRIDAY, AUGUST 31, 1888.

In yesterday's issue we were ooly able, in a few brief sentences, to call the attention of our readers to the importance of the questions discussed at the annual meeting of the Canterbury Chamber of*Coinmerce, The subjects referred to, however, are too important tqbe passed over without some attempt to summarise the conclusions arrived at. The acting President, the Hon. E. W. Pakkbb, in the course of his admirable address, dwelt on a large variety of questions, so that we can xinly touch very briefly upon the more important of them. The following "sentence is the text, so to speak, upon which the whole address ie founded :— ";While:regretting," he said, " that I " cannot, congratulate you upon the " entire fiisappearanc of the depression " which has weighed upon us so heavily " for many years past, I feel every con- " fidence in : \ assertiflg that we are on "the eve of better times." Having made this announcement Mr. Pabkbr pipceeds to places "before the pittblic the reasons which have led him to arrive at such » conclusion. In doing so he

aatu ™ n 7 proteeda ttf e»iffife~i^r^ n jondition and prospects of tne pw natural industries of the oolonyf^ the result of his investigate is^S in the foUowingeucoumgmgpaaZr: -« Upon are™* of theritaSTg: " conclusion must generally be Jni !-i "at that the prospect, of the cSZ are decidedly improving. Oar JS is selling well, and everythine tkZ? « topreeent values hein^SS " Frozen mutton is now realising?^ " that is remunerative to the £2 " farmer. Wheat promises to ,3 " to something like the old leveLwC ", *S row , wh «at meant to coin morT " The Umber industry in the NortEfi "for the first time likely* "&A » veloped in a systematic and, tW fore, profitable manner. The'ouC from our coal m & is incre«2C "year by year, and other of J2 mineral resources, such as gold and •" silver, and antimony, are beconZ -developed by the most scient^ 'appliances; and even now, as we " watch what we hope may prove dw "sunset of our depression, there an " indications of a brighter morn*" Turning to the details, Mr. Pabkss naturally places wool-growing at the top of the list of our great industries, and his review of the future is highS encouraging. Not only has the w>. duction shown marvellous expansion, but the prices realised during the jqu are sufficient alone to point to a brighter future for the colony.-' J^ e years ago New Zealand exported f>8,149,4301b5.; last year the export had risen to 8f>,824,8521b5.; while as regards Canterbury alone, the value of our wool export had risen from £748,032 in 1883 to £l,ol6j4fi||j| 18S7. The increased prices rulfnllhot compared with those a year ago mean that the wool producers of the colony will have £375,000 more incometfcan they had last year. Not only are the prices at the present moment higher than they were twelve months ago, Mr. Parker has arrived at the conclusion, founded on an exhaustive examination of the facts of the case, that the outlook for wool in the future is remarkably good; because, he points out, " although the total production ol the world is increasing annually the demand seems to more than keep:pace with it, and will, as far aa can be judged, continue to do so." '. Coining to the frozen meat trade, figures are given to show that the Continent has apparently reached its maximum of meat production, and will henceforth " be compelled either to import largely from other parts of the world, or send away annually some millions of person* as emigrants," unless, indeed, the con' sumption is diminished. Already the Continental demand exceeds the supply, and before long the deficit will be still larger. In such circumstances, the graziers of these colonies have Sbrfght future before them. Even the/depression which has so long hungiover the grain-grower is beginning to lift. The immediate cause of the enhanced price of wheat in the English market is the misfortune which has befallen the English and French farmers. This, ol course, is temporary and accidental, anddoesnotn6cesaarilyindicate a pep* nent improvement for us. But> as Mr, Parker points out, the price of wheat promises to return to something likt the old level. Wheat ia one of tiu commodities in which the evils of over production are soon counteracted; il does not require a very large diminii tion in production to make all the difference between over-supply and under-supjply. Bread is an- article the consumption of whioh *;muet always go on at an enennoue rate, and the demand lor, it is ua affected by the various accidents and caprices which regulate the demand f<B other commodities. Moreover, eJnw wheat has fallen to its recently unprecedented low prjee, the consumption must have vastly increased." Tnat ii one of the waya in which ova-produc-tion work's its own cure; it s |nt cheapens the article which is produced in excess, then by reason of ness it creates a demand for the article, whioh puts an-end to the glnt This is what is probably silently happening in the; wheat mwketj.and if co prices will revive, maepe'nSently ol any vicissitudes of season, even if they never reach the " old level" *$$pby Mr. Parker, " wnen to grow wßeat meant to coin money." Equally to the point were his remarks upon the faturt of the butter and cheese industry, the rabbit pest, and other matters., /f Hβ touched but lightly upon politics.irat what he had to say on the subject** entirely to the point. Mr. Pasxmi pointed to the one thing which Mjketf to prevent the colony advantage of the general rise in prica which he had been discussing. « is not enough that those in tW colony should be able to produce *H profit. We need more population,W vided that population is of tne *s£ kind, and the heavy taxation wnicn our necessities have forced upon n* will tend to keep, from our shores sonw of the very class of emigrants of ww* we are most in need. This W^ o ****? ing appropriately closes an exceedjfWV instructive and valuable a^ 6 ® , *?*? helps to remind us of the duty MW still lies before the Legislature. JWJ moment times begin to improve #«J will be a strong temptation toretur? to the old wasteful and extrftvjgen* ways which have done 80 moon w bring our present difficulties upona* We hope, however, that *hejg». lately taught the colony will n»«>*. lightly forgotten. -.'•'■'',