Hawke's Bay Herald. MONDAY, JUNE 2, 1879 COLONIAL TRADE RETURNS.

Hawke's Bay Herald, Volume XXI, Issue 5397, 2 June 1879, Page 2

Hawke's Bay Herald. MONDAY, JUNE 2, 1879 COLONIAL TRADE RETURNS.

Many will no doubt be surprised to : hear that the exports of New Zealand this year, in spite of the depression which prevails, have fallen off only 3 per cent, in value. If the item of gold be left out there has been an increase of between two and three per cent., notwithstanding the depreciation in the value of wool and grain. For 1877-8 the exports were of the declared value of £6,058,392, while for 1878-9 they are estimated to be worth £5,784,515, showing a falling-off of only £288,969. Of course in this this return the last quarter's exports had to be estimated approximately, as the financial year does not close until the end of June. This estimate was, however, made during the time when both wool and wheat were at their lowest figures, and if the recent improvement in prices be maintained we may actually find an increase instead of a decrease in the value of our exports. Coming to items we find that there has been a decrease of £415,421 in the gold exports : and a decrease of £32,329 in timber. In grain there has been an increase of £236,662; flour, bran, &c, £18,360; and tallow, £23,360. Thus, leaving out of account the decrease in the gold exports, there has been an increase of nearly £200,000, This is highly satisfactory, for it proves that during the year New Zealand has \ made rapid strides in substantial j prosperity. Had the prices of pastoral and agricultural produce remained the same as last year there would have been a large increase in the value of our exports. Of course the population is now somewhat larger, so that the exports per head will be about 5 instead of 3 per cent, less, but, heavy as this loss undoubtedly is, it is not nearly so bad as political and newspaper pessimists would make it out to be. It is evident that our productive power has increased in even greater proportion than our population, and this holds put bright visions for the future, when trade revives at Home, and our productions in consequence rise in price! Especially hopeful is the increase in the value of grain, for, when the lower prices are taken into account, this means an enormous increase in the quantity exported, showing that agriculture is rapidly pro-' gressing. With the return of prosperity we shall doubtless see many large sheep stations cut up into small farms, ' greatly to the benefit of the colony. At present the high price of labor prevents large holders of land from putting their estates under crop — it is to the small farmer 1 , who, with his sons and one or two men, can farm the land in a far better manner, and with far less proportionate expenditure, that we look for the spread of agriculture in New Zealand. Hawke's Bay has hitherto been too much regarded by outsiders as country fit only for wool-raising, but of late this illusion has in some meastire been dispelled, and Southern agriculturists are beginning to see that even the far-famed Canterbury plains do not possess such rich, soil as many of our extensive flats, while our climate is incomparably superior for grain-grow-ing. English farmers are turning longing eyes to the colonies, and the success of those who have so far overcome their old conservative reluctance to emigration as to come to the colonies will bring out many more within the next few years. With them they will bring experience and sufficient capital to purchase freeholds here where they could only rent land at Home. When once they really understand the advantages the colonies, and especially New Zealand, oiler to agriculturists they will regard emigration with Jess and less fear, until the lengthy sea voyage will no longer possess terrors suffi.ciei3.t

to keep them at Home, farming land fprT a bare subsistence,, and improving; it for the'benefit of: their landlords. The present bad; times at^Horne wiu^hayei no inconsiderable influence irf causing i them to make up their -minds to v emigrate to other shores, while the;' bad times in; the colony will to-some extent aid them by making the'hoWers of good agricultural land, now lying comparatively waste in sheep runs, more willing to sell at a moderate price; The , man .'who .starts farming in. tbie colony' on capiiai''boi^o'wed at a 1 high rate of interest may find that in bad times all his profits are absorbed in payment of interest, but those who start with • a £arnv ! clea^ 6f 'mortgage, afi.d who Are p"Ossessecl of; .that", 'experi^ enee so necessary to the successful cultivation'of the 'soil; "will-, 'even with produce at "low prices in; the Stonlion hiai'ket,-' be ;able to Mak^lbdtk- s^nds" meet; Wjliilfe'jui good times : they, wllfbe able to lay by against a 'less favorable season. In too . .'many instances our agriculturists. have failed from lack ;bf experience 1 or capital >; with' 'both theseeysehtialV jbhere^ik;. a 'brilliant! ' prd^eci' for. the sma^l farmer. , in- Kpw^ JZeafandi. But revenons '&nos-.motit&n&[uyiTh® really substantial falling' off : in' ; otiiKexpoi\fcs is ;n the gold returns, . .The.dci, crease . of" nearly;,' haff^ni.iliiM' 1 'iSii'wll unmistakeabl^- ,lMt dill* known goldfields Mi becoming exhausted. The. loss of so large a sum to the colony is to be regretted, but it will not be without a coi'responding advantage in turning capital into . inbre' permanently remunerative fields of investment. It is often said that .every, ounce of. gold raised has cost. L i£4 to obtain.j This may- be an exaggeration, but it "i cannot be doubted that, for' every 'mine which hai returned.^jforbune to .it's proprietors^ five have, not paid working > expenses. More fortunes^ had been lost; than gained in gold-mining- in- New "Zealand, and the working miners- haye, : wit on the average made so much money as if they; had steadily, 'devoted- themselves. to less exciting but more' permanent pursuits. Every pound expended in clear-, ing land permanently adds to its value, and; the : money brings an; annual interest, but the large sums sunk, in i mines, or the labor spent ; nu working alluvial, fields,, is never lastingly reniuneratiye, as" Jthe . mine '. or ; field ; must be worked, out in. a few year's at furthest. The discovery of gold here has done us great good in directing attentionto the colony, and increasing emigration, to . its shores, . but ,it is not ..to our goldfields that we must look for permanent prosperity.