TRADE AND COMMERCE.

Press, Volume L, Issue 15158, 23 December 1914, Page 8

TRADE AND COMMERCE.

TEE EFFECT OF THE WAR,

For its prosperity, tho Dominion depends almost entirely upon ite export of the primary products and the prices that thoso products realise, and it is highly probable that the year 1914, in spite of the European convulsion, or possibly because of it, will prove to bo a good one for New Zealand. Up to August the trade of the country was practically normal, and tiien, upon tho declaration of war, a decided slump in all commodities that do not como.under the head of necessities, was recorded. Tho quiet time in certain trades stfil continues, but very quickly the main sources of the" country's wealth have recovered. and tho prospects are good. bo far as the latest available figures go, which, however, do not. tnka us past the end of the Government's financial year, the value of tho. total products exported from New Zealand in 1913 was £23 043.589, while tho 191-1 total is £23.475,049, or an increase of £431,430, which must be considered satisfactory. These figures do not include tho war-time rates, which, in many cases, show a distinct advance on average prices. Tho country's grain trado is not large, and this year the exnort is.small compared with that<r 1913. In fact, some of the wheat shipments that left early in the year ■were sent more to fill up freight contracts than with the idea or hope'of profitable deals. In the light of later developments, it is a pity that any "were sent away at all. Tn oats, shipments wero mado through, the season at prices on a par with local rates, but con*signments which reached Home after the war had broken out showed a profit to shippers. For the current season, according to statistics, the area tinder oats is very much smaller than last ""ear. and the wlieat area remains about he same. No doubt thr- wheat area also rould have shown a big drop but for the Prime Minister's appeal, whi n h resulted in a good deal of additional land being put under wheat.'.So far the prospects for the coming crop are rather poor, and it is almost certain that there will ho litf.e or no surplus for export, which is unfortunate, as prices in th« United Kingdom and Australia would have been exceptionally good. Dairy produce has had an exceptionally good run all through, and though recent indications showed tho probability of a drop in cheese values, tho u-ar has chanced all that, and cheese is realising id to id.per lb over the last season's prices. It is estimated that the supplies of cheese availablewill be about 10 per cent, in advance of last season. The butter trnde has also been good, and practically the whole of tho export this season has been to the United Kingdom, the trade Ito the West Coast of America having fallen away to small dimensions. Prices for our butter have been good, arid shippers on consignment are reaping ,good profits. Had it not been for the exceptional dryness of. the 1& : was anticipated that there would M™ been a considerable increase in tho pot" ter exported, principally from w . North Island, but with the lacker greon fodder, it is possible that t« d shipments will not exceed last scas ?!* 3 by more than o to 10 per cent. The i demand for our meat has been very f brisk, and prices are high, and not at : all likely to go down, considering vast quantities of meat are needra for ■ the feeding of the troops. The needs '■ of tho War Office commissariat depaT*ment, and of the public, have hardened up the values of tho more economical classes of meat, and there should bo an abundant outlet for all the country can supply. Wool of a certain class is "also keenly soucht after, Army needs again causing a very keen enquiry, and though some manufacturing tradesman New Zealand are undoubtedly feeling I the pinch of the situation, it would apI pear that there i.= not a country in toe world which can face the present cm* with a more confident mien than tni* Dominion. ■ ■