The Press. FRIDAY, JULY 12, 1889.

Press, Volume XLVI, Issue 7360, 12 July 1889, Page 4

The Press. FRIDAY, JULY 12, 1889.

Thr banquet given to Mr. John Cooke yesterday afternoon in the hall of th c Chamber of Commerce was, in several respects, a remarkable gathering. To begin with, the meeting waa not only a very large one, but it was thoroughly representative of the erreat producing industries of the district, and showed how completely the guest of tbe day had succeeded, during his residence in Christchurch, in identifying himself with eveiy enterprise which had for its object the progress and prosperity of Canterbury. In this respect, we say, the gathering was the best possible evidence which could be furnished of the high esteem and respect in which Mr. Cooke is held by his fellow citizens, and of the regret whioh is felt at his departure from our midst. The speeches reported in another column detail at length the valuable work Mr. Cookb has done for this community during his residence here, it is therefore not necessary for us to reiterate what has been so well expressed elsewhere.

The gathering, however, was noteworthy in another respect. Without exception the various speakers took an exceedingly hopeful view of the future. Representing as they did, the different branches of industry and enterprise, they all dwelt upon the abundant evidence which exists on all sides that the oloud of depression which has for so long hung over the colony is rapidly disappearing, and that New Zealand is .now entering upon an era of plenty and prosperity. Statistics were quoted to show that industrial enterprise has resulted in a very remarkable expansion of our trade. Oar exports have advanced literally by leaps and bounds, and, moreover, steps have been taken which cannot fail to bring about even greater results in the future. It was shown that the exports for last year exceeded those of the preceding one by nearly a million sterling, and that the trade of the present year promises to disclose at least as great an expansion over that of last year. We mentioned a few weeks ago that the exports for the quarter ending March 31st last were the largest ever recorded in the history of the colony. We are now in a position to state that the export trade for the half-year ending June 30th is also of a most satisfactory character. We are indebted to Mr. Chrystall for a return of the exports for the June quarter, supplied to him by the Customs Department for use at the meeting, but unfortunately the telegram did not reach him in time. From it we learn that during the three months ending June 30th we exported produce to the value of £2,204,549. This amount, added to the figures for the March quarter, made a grand total of £5,622,283 for the half-year. This is just a little over a million short of the total exports for the whole of the year 1886. The following is a comparative statement of the exports for the first half of each year since 1886 :— Half-year endlnpt June 30,1886... £3,781,329 Half-year ending June 30,1887... 4,060,094 Half-year ending June 30,1888... 4 409,940 Half-year ending June 30,1889... 5,622,283 It will be seen from the above figures that the exports of the last half-year exceed those for first half of 1886 by £1,840,954, or nearly two millions sterling. There is every prospect, therefore, of the returns for the whole year, ending December 31st next, showing a very large increase over those for 1888. It must be remembered that there is still in Canterbury and North Otago a large quantity of wheat and other grain held over for a possible rise in the market. The bulk of this grain, it is to be presumed, will be got rid of during the current six months. Then again, we shall shortly have the two great freezing works in this distriot in full operation. The Belfast factory will be ready to resume operations at an early date, and the Islington works are already working to the full extent of their capacity. During the last half of 1888 the colony's exports were valued at £3,357,385; during the corresponding period of 1887 at £2,805,475; and during the corresponding period of 1886 at £2,891,462. If the half-year upon which we have entered simply equals that of last year, the value of our exports for 1889 will reach about nine millions sterling, or about a million and a quarter in excess of that of last year. Since 1836 the expansion of our export trade has been most remarkable, aa the following figures wilJ show :— 1886 *6,672,T01 1887 6,806,185J 1888 7,767,85" 1838 (say) ».«».«» It appears to us that a careful -examination of the statistics of our trade proves to a demonstration that ths* colony, to use a ohraae employed yes

terday, ia on the threahold of a period of progress and prosperity. We only hope that the opportunity will be wisely taken advantage of, and that we shall continue, as we are now doing, to husband our resources and to depend upon public and private economy, rather than upon large colonial expenditure, to ensure the permanent stability of the colony.