The Hawera Star MONDAY, SEPTEMBER 22, 1924. INDUSTRY AND COMMERCE.

Hawera Star, Volume XLVIII, 22 September 1924, Page 4

The Hawera Star

MONDAY, SEPTEMBER 22, 1924. INDUSTRY AND COMMERCE.

Delivered e-'ery evening by b o'clock in Hawera. Manaia. Okaiawa, Eltham. Pat€i>, Waverley, Mokoia, Wbakamara, Obangat, ' Meretnera, Prater Bead, and Otakeuo Manutahi, Alton, Hurleyville, Mangat<,ki, Kaponga, Awatuna, Opunake,

One oi' the most- interesting of the annual departmental reports to Parliament is that of the Department of industries and Commerce which came 10 hand last week. The report’ indicates the condition of the. Dominion’s trade. Statistics show that, while the total value of exports has remained lairl.v steady during the last four years, imports have shown remarkable fluctuations. The department’s comments on these facts are that in the case of exports the comparatively steady level appears to be an indication that price ifor our main exportable commodities may fluctuate considerably—as they have indeed done—without seriously disturbing the total value. of our exports. The movements of prices of the several main exports have doubtless had a compensating effect. The increase in the value of exports for 1923 was due mainly to a substantial increase in the tonnage of butter and cheese exported. The fluctuations in the value of imports m®y be taken as indicating the difficulties which havenot yet been overcome since the flood of imports in 1920, when the value exceeded that of exports by over £1.5,000,000. Banks were forced to assist importing houses ami the liquidation of stocks at reduced prices was accompanied by a slackening off of demand in 1925 and the early part of 1922. An improvement was recorded later in the latter year, but in 1923 imports again rose heavily (the total being £43,486,544 compared with £34,826,074 in 1922), and this had a depressing effect. The first five months of this year showing an increase in exports and the promising outlook for the season which has just commenced encourage the hope that this year will be better than last. It is hoped that imports will be kept down and exports increased, for it is most- desirable that exports should show a sufficient surplus over imports to pay our interest

bill overseas, which amounts to over £o,1)00,000 per annum in respect of the foreign indebtedness of the general Government and of local bodies, to which amount must be added payments abroad for the use of other foreign capital invested in New Zealand. Fortunately, prices for produce have on the whole been satisfactory, and there does not appear to be an immediate danger of a heavy fall, though it should not be forgotten that foreign competition is steadily increasing, and will no doubt become keener within the next few years. The growing population of the Dominion should enable production to be increased and, if immigrants can be absorbed without difficulty, as appears to be the case from the fact that there has been little unemployment during the winter just past, the. country’s power to increase its output should become greater. The report gives interesting information concerning the manufacturing industries, greatly increased outputs being recorded within recent years. It is interesting to learn that the output capacity of the three cement companies is now 220,000 tons per annum, and that the demand last year was 80,'000 tons less than the capacity to supply The new iron and steel works in the Nelson district are inferred to favourably, and the department anticipates that when the company has brought its works to their capacity (10,000 tons per year) the output will equal the present -requirements of the Dominion. Of the total number of employees engaged in all industries in the year 1922-23, 2808 or 3.8 per cent, were classified as administrative; 64,658 or 87.8 per cent, as productive; while 6196 or 8.4 per cent, were classified as distributive. The average yearly wages paid per productive employee for rhe year ended March 31, 1923, was: Males £199.8, females £91.1. The report concludes with the following encouraging remarks: “Despite the checks of the past few years, the industries of the Dominion are steadily '’progressing, and the fact that ..he value of output of the secondary and extractive industries has reached nearly £50,000,000 is both a revelation and a source of gratification to our citizens. But with the provision of hydro-electric power to an everincreasing extent annually, this production can be greatly augmented, and manufacturers' look to the future with confidence a.nd aver that it can be obtained at lessened cost —with the aid of ‘white’ coal and larger outputs. If the people of the Dominion will sup port their own industries and, all things being equal, buy New Zealand made goods, then there can be no doubt that it will be the main factor in aiding a complete restoration of our national prosperity. 1 ’ ■