(published daily.)

Hawera & Normanby Star, Volume IX, Issue 1746, 5 October 1887, Page 2

(published daily.)

WEDNESDAY, OCTOBER 5, 1887. NEW ZEALAND TRADE. ♦_

Pbobably nothing would so quickly put an end to all depression in trade in New Zealand as a steady and well sustained rise in the price of wool. According to statistics recently published for the year ending June 30th last, the great effect that a rise in the price of wool exercises on the gross value of New Zealand exports is clearly shown. For the twelvemonths ending June 30th, 1887, the value of wool exported was, in round numbers, £3,535,000, as against £2,818,000 — i.e., an increase of .£716,000. The weight of the wool exported for the last twelve months was 94,952,000 lbs, against 88,265,000 lbs for the preceding twelve months. Thus there was an increase in the quantity of 7| per cent., and an increase in value of more than 25 per cent. In; other words, in 1885-86 wool exported was worth on average about 7|d per lb ; in 1886-87 it was worth

very nearly 9d per lb'all round. This "difference of about l|d per lb resulted in about ,£460,000 of increased income for New Zealand sheep farmers for the twelve months under consideration was .£6, 758,307, as against .£6,310,914 in 1885-86, representing an increased value of ,£369,913. These are satisfactory figures, especially when note is taken of the fact that the exports of grain and flour show a decline in value of £166,000. Butter •and cheese also show a great decline, amounting in all to more than .£49,000. We have long held the opinion that a colony like New Zealand which owes large sums to outside creditors, and has annually to send away large quantities of produce in order to pay interest on its debts, ought, if any real retrenchment of loan expenditure is being made, to show a considerable excess of exports over imports. During the twelve months under consideration this position has been attained, almost for the first time for many years. The excess of exports over imports was about .£600,000. The value of exports of sheepskins, of frozen meat, of kauri gum, and of potatoes, are the only classes of goods, in addition to wool, which fhow an increase in value for the twelve months. In spite of a considerable increase in the number of sheep and in the frozen meat trade, the exports of tallow show a decline in value of over .£IOOO. But had the prices for tallow which ruled in 1885-86 been maintained, the value of tallow expoi'ted would have shown an increase of nearly £9000. Upon the whole the export and import statistics are satisfactory. The chief export, wool, though still low in price, has risen in value sufficiently to make the debtor and creditor account of the colony show a substantial balance in New Zealand's favor. It is to be regretted that the expovts .of all dairy products show a decline in value, but this is attributed by the New Zealand Trade Review to the unfavorable state of the Australian marKets. We desire to take this opportunity of acknowledging our indebtedness to the last-named journal for many of the figures referred to above.