A Review of the Land.

Press, Volume LXVIII, Issue 20629, 19 August 1932, Page 10

A Review of the Land.

We print this morning sopie extracts from the latest annual review issued by Pyne, Gould, Guinness, Ltd. It is necessarily to a great extent an account p£ the distresses pf the nipfst important sections of primary industry, due to the low price levels ruling. Thus wool, after the season had opened on a hopeful rise, sagged again until the July sales opened in London with a substantial rise; but though the opinion is expressed elsewhere that " a rise of "several pence is more than justified "by market statistics," the review refuses to be "too optimistic." It does, however, hold out hopes of a "conr " siderable improvement on present 'prices," at the opening sales of the coming season for sueh fine wopl as Canterbury produces, which is popular and not in excessive supply. With reference to frozen meat, the review notes the discouraging' movement pf prices to the record law level in London towards the end of the season, and draws attention to such danger-signs as the drop in vreigh't of Canterbury lambs, with the appearance of "nearly "10 per cent, more seconds," and the marked decline in flock figures—not so heavy in the Canterbury-Kaikoura area, fortunately, as in the North Island. Dairy produce shows a similar history, dairy farmers ■ having had to accept ' the Jowegt ' pay-outs' experienced during this century," But against these dark faets may be set others more encouraging and advice of uur questionable wisdom- Two had seasons promise io be succeeded by a generous one. Canterbury's meat exports have gained a tremendous market in England, Which has only to be held to become richly advantageous in better timee; the more so if everything pogit dent ta rate* thsi duality and

the volume of the output. One direction of improvement is hinted at above and in a paragraph which reports the opinion of good judges that " greater " care in culling flocks and herds is still "urgently required." Again, with regard to dairy produce, while the review does not look on the price prospect as very bright, it urges the right and profitable course of raising the butterfat yield per cow. Since the average yield for the present season is estimatedin all probability" at something less than 2001b, obviously there is room not merely for improvement but for great improvement. But what is in the end the most hopeful sign of all is the evidence, to which the review draws attention, of the farmer's endurance and spirit and of the community's confidence in him, which appears strikingly in the success of innumerable private mortgage adjustments. A people which knows the source of its strength and is Aviso enough conserve and recruit it has little to fear.