AN ELOQUENT DIAGRAM

Evening Post, Volume CII, Issue 14, 16 July 1921, Page 9

AN ELOQUENT DIAGRAM

NEW ZEALAND'S INADEQUATE EXPORTS /

HUGE GROWTH OF STATE

ACCOUNTS.

For the diagram which appears on this page and the figures from which it is drawn, and which are inoluded in this, article, The Post is indebted to Mr. G. Mitchell, M.P., who obtained the statistics from official sources and worked out the original dia.gra.in. Mr. Mitchell, being impressed by the enormous growth of the receipts and expenditure in the last few years, and the fact that the country's exports have not in ajvy way showp: a real increase comparable with that growth, has chosen an impressive way of expressing the position. The curves do not show actual quantities. Theyeai' 1910 is taken as the base, and all the quantities dealt with—population, volume of exports, Government receipts, and Government expenditure, start from the same point. The curves then indicate only increases or decreases per cent. Any item which has doubled since 1910 is thus shown, as 100 per cent. — for example) Government revenue is in that condition in the year 1917.

It is to be especially noted that the figures used for. the exports' carve are not those of the current money values. Each ton of goods is worth to-day far more iv money than if the 1910 prices ruled, 'and the export statistics have therefore ;been modified by means of a price index number. They represent, in the

form need for the diagram, the value they would hay« had if prices had been the same ac in 191Q, and may therefore be regarded as the volume a-atber than the nature of exports. The effect of this •change can be readily seen. In 1918, ■when exports wane greatly a-educed owingto scarcity of tonnage, the diagram shows that the volume was 33 per cent, leas 'than in 1910. If the values at current prices are taken, the year 1918 shows an iiicreas© of over 24 per cent. Similarly, in 1919, when the diagram shows sn increa.se of 33 per cent., the values would represent an increase of over 140 per cent.

It will be noticed that the exports arc not shown for the year 1921. The financial figures refer to the financial years, ending on 31st March, but the export statistics refer (to the calendar yeai\ and the total for 1921 .is therefore' not 'available. Figures relative to the expired portion of the year cannot be fairly used for comparative proposes. ' For purposes of more exact comparison, the statistics on which the diagram is based are given' in the foHowin.otables : Consolidated Fund Revenue £ 1910 9,238,917 .1911 10,297,273 1912 11,061,161 1913 11,734,271 1914 12,229,661 1915 12,451,945 1916 14,510,137 1917 18,367,547 1918 20,206,222 1919 22.352,372 1920 26.081,340 1921 34,260,960

Consolidated Fund Expenditure. 1910 8,990,92?. 1911 9,343,106 1912 10,340,368 1913 11.082,038 1914 1i;825,864 1915 12,379,803 ;r-i6 12,493,10? 1917 14,058,/ JO 1918 15.120,283 1919 18.673,599 1920 23.781,524 1921 28i068.730 Population of Now Zealand. 1910 ' 1,004,386 1911 1,008,463 1912 1,052,627 1913 1.084,662 .1914 1,095.994 1915 1.102,794 1916 1,099,449 1917 1,097,672 1918 1,108,373 1919 1,164,405 1920 1,194,835 1921 .' 1,194,832 Volume of Exports. Q 1910 16,930,580 1911 14,743,788 1912 16,227,131 1913 15.999,976 1914 18,103,481 1915 18,370,104 1916 17,074,173 1917 14.?28,433 1918 '. 11,334,286 1919 22,690,658 1920 „, 18,333,425 1921 Not availaM