TRADE STATISTICS.

Evening Post, Volume XLIX, Issue 115, 16 May 1895, Page 2

TRADE STATISTICS.

The ourrent issue of tbe New Zealand Trade Review contains a very full compilation of the statistics relating to the trade of New Zealand -comprising Bank returns, Customß revenuo, import and export returns, agricultural statistics, and returns of the cattle of the oolony. A glance over these statistics — in whioh the trade of a twelvemonth ending with the 31st March last is brought into comparison with that of previons years— leaves a general impression of stagnation and want of progress, if not of aotual contraction. The Bank returns Bhow diminished advances, tho disoounts especially having reoeded to so low a level that the Review remarks we should have to go baok to comparatively early days of New Zealand banking to find its parallel, while on the other hand the amount of free deposits — , ordinary oredit balanoes— in the hands of ' tbe Banks ib "umißnaUy, if not unprecodentedly, large," amonnflng to £4,G19,569. As the Review says:— "There is evidently plenty of money available for use if snffioient confidence existed to embark in enterprises." Note circulation, a reoognised 1 index of the volume of trade, shows a decrease of £47,201 as compared with the same quarter in 1894, and £75,071 from the ' March quarter of 1893. The Review draws attention to the extraordinary position in ' banking annals when it shows that the deposits and note oiroulation exceed the advances by £2,793,227, so that the " lendings of the community to the_ Banks, besides providing these institutions with funds to cover all their advances, furnish them in addition with 85 per cent, of their coin and bnllion reserves." Customs revenue, as we have already pointed out, shows a shrinkage for the financial year of nearly £85,000. Spirits, wine, and beor show together a falling-off of about £19,000; 1 tobacco, oigars, &0., about £3000; opium, £1000 ; goods by weight, £7000 ;ad valorem 1 (roods, £71,000 ; while an iuoreaso of about > £7000 occurs in sugar, and one of about £9000 in the line "other duties." In commenting on these facts tbe Review says :—: — " On the whole these figuros give some indication of a diminution of purchasing power, especially in view of an increasing population. Whether the marked drop in wine and imported beer, which aro luxuries of the - middle and upper olasses, may be uccepted ' as an indication that these classes are specially affected, we are not prepared to say, but the facts arc open to that construction." Imports, apart from specie, reaoh a total for the twelve-month of £5,845,585, against £6,498,104 in the year 1893-4, a falling-off of £652,519, or over 10 per cent. The Review considers that as to a not inconsiderable proportion of the falling-off we must look for an explanation to a contraction of trade arising from diminished purchasing power. The redaction of imports is, in fact, an absolnte necessity of our position, to • brin? our imports and exports into pster relative proportions iv view of tho liabilities of the colony for interest on debts. The total valuo of the year's exports of New Zealand produce is £8,655,500, the va'ues in the three preoeding pears being £8,920,889, £9,049,371, and £9,577,340 rofspectivoly. The ' value of our wheat export has actual 'y fallen to £9100 for the year 1894-5, the values for the three previous years being respectively £268,744, £476,684, and £252,999. The total of all grain and ground cereals shows for tbe year 1894-5 a falling-off as compared with ■ the three previous years of the following amounts: — Against 1893 4, a deoroaso of £272,789 ; 1892-3, £646,983 ; IS9I-2. £518,350. The total of hemp for tho year is only £42.727, against £176,990, £203,237, and £267,943 respectively for the three preceding years. As to onr leading staple, wool, the ' results of the export of this season's clip so far compare as follows with tho season of 1893-4 :— Weight. Value. Ist October, 1894, to 31st Blarcb, 1695 10G,C48,7961bs £3,230,457 Ist October, 1893, to 31st March, 1894 103,103,7151bs £3,421,354 So that, with an increase in weight of 3,545,0001b5, there is a reduction of £190,897 in tho valuation. The net falling-off in tho colony's total exports of the six months, apart from specie, ia, however, only £61,612, so ■ that, apart from wool, there is an inoreose for the last half-year of nearly £130,000, whioh oocurs chiefly in meat and tallow. The year's falling-off is very heavy, but there ore some factors whioh seem to point to improvement in the current rear. In both gold and kauri gum the exports of 1894 5 are the lowest for the four years, but sb both industries are now giving signs of revival, wo are entitled to look for an increase in these lines. Thon, again, the hind withdrawn from wheat is probably being utilised for sheep or the dairy trade, but not yet yielding any substantial results. Here, again, we msy look for some addition to our exports in the near future. We want, however, an improvement in the prioes of our products, and a revival of confidence in tho minds of oar producers, before we can look for any substantial amelioration of the position.