THE DOMINION'S TRADE.

Press, Volume LXV, Issue 13359, 26 February 1909, Page 6

THE DOMINION'S TRADE.

The report of the Wellington Chamber of Commerce which was to be presented at the annual meeting yesterday deals exhaustively with tho trade, of tho "Dominion during the twelve months ending last September. Tho total value of the- exports of Now Zealand produce during that period amounting to rather more than eixteon millions, compares unfavourably with tho amount for the previous twelve, months, which was close upon nineteen, and three-quarter millions, but 1906-7 was a record year in wore respects than one, and hardly affords a fair comparison. No country can remain on the top of tho wave, all tho time, and tho receding of the boom of two yea re ago was inevitable. Tho decrease, however, was not -wholly due to tho reaction from a period of un-, usually high prices, especially in (wool. Tho statistics make more clear than ever the really serious consequences of tho drought of 1007-8. -which was folt more severely in this island than in tho North. To that cause must bo debited tho falling-off of tho South Island wool, meat, and tallow exports, and of the buttor export from, the North Island. Hemp, ns is well known, was in email demand, and 'the out.put, as well /as tho price, fell off considerably, while there was a largo decrease in the output of kauri gum, wliich -sras only partly made up by the bettor prices obtained. Tho export of cheese showed satisfactory growth, tho added valuo. as compared- with the previous year, being nearly £200,000. The prospects of tho current year are admitted/ to bo "somewhat encouraging." The season, on. tho ivhol<?, has boom a good- cno, and an increase in the output of wool, meat, butter, nnd cheese, is looked: for with confidence. Prices for meat «ro not regarded as Kke.ly to be more than moderate, ''but those ruling for dairy " produce are most satisfactory and " prices of wool, though still falling " short of those of 1905-6-7, exhibit, a "•distinct improvement upon l<)07-8." Grain nraspects are also looked , upon as satisfactory, but there is no present hopo for hemp and kauri gum. Wo shall not roach- tho standard of 190G-7, but there is every reason to lcok for a considerable improvement on last year. Tho Wellington Chamber regards with some suspicion the- continued expansion of New Zealand imjvorts. which show an advance of five and n halt" millions, equal to some 43 j per cent., in three years. This incroase, it declares, is excessive and calls for considerable retrenchment, in older to restore the equilibrium. Tho change Irom an excess cf exports over imports in 1906-7 of nearly four millions sterling to an excess of imports over exports last year of more than a million r.r.d a quarter *.r;;.<; certainly v violent fluctuation. !>:it it is a matter that imay be oxpi-cttd to euro itself. Aa Mr G. T. liooth said at the iron- j niiitit"i-.»" fcnferi'iico "« ith prud*::co nnd ! "■ c.iro we ought to have lr.any zi.od ' ■ ti:nc*> yet." But the •prudence nr.il j '"care" an , neefsiary. j