THE CHAMBER OF COMMERCE.

Lyttelton Times, Volume LXXVI, Issue 9512, 7 September 1891, Page 2

THE CHAMBER OF COMMERCE.

ANNUAL MEETING.., The thirty-second annual meeting, of the Canterbury Chamber of Commerce woe held on Friday, August 28. There was a. good attendance, and. the President, Hr W. Eeece, occupied the chain ' NEW MEMBERS.' - ' "• ■ 1 ' Messrs F. de C. Malet, E. C. Latter,^A. Gilbert and H. W. Jennings were elected members of the Chamber. ■ ■ ELECTION OP OFFICERS. The President said that the following gentlemen had been nominated as officers for the ensuing year, and as there was no opposition, he would declare them duly , elected; President, Mr, W. Devehish- ' Meares; Vice-President, Mr E, S. Harley; Committee, Messrs W, Chryatall, .Albert Kaye, W. Eeece, G. F. Martin, G. T, Booth, B, Sfcruthers, G. G. Stead, G, Humphreys and W. Wood; Auditors, Messrs E. O. Bishop and J. F. Grierson. ANNUAL BALANCE-SHEET.’ The Secretary read the annual balancesheet, showing that the financial 1 position of the Chamber was better by .£3O than it was last year, • ~- psesident’s address. : ■ The President delivered the following address : Gentlemen,—ln moving the adoption of the annual report and balance-sheet, it is my duty as retiring President to review the events of the past year as affecting the commerce of this Province and New Zealand generally. Owing to the very able editorial comments on the statistics of New Zealand trade so frequently published, it is very difficult to place the figures- of our commerce in any new light, and therefore, as you will. have the full tables attached to the report, I will but briefly refer to them. Several influences have combined to make the review of the past year of a less satisfactory nature than could have been desired; on the other hand there is ample evidence of the soundness of commercial affairs. There can be no doubt, indeed we have ample evidence from the large sums waiting investment and on deposit, that enterprise. has been checked and capital made timid, owing first to the succession of labour difficulties at the commencement of the year, and latterly to the uncertain feeling with regard to the taxation and other proposed changes in legislative The first cause, I trust, will not occur in the future, and with regard to the second it x> to he hoped that the amendments made in the Taxation Bill and other measures will tend to make them less hurtful than was at first anticipated. The banking returns of the Australasian Colonies prove beyond doubt the sound finaUciaVposition of New Zealand ; these figures show that dazing the past three years New Zealand has decreased her advances by £2,208,000, and increased her deposits by £1,563,000, or in other words has improved her financial position for the last three years at the rate of £1,257,000 per annum. The Banks also show a gresii increase of deposits by the trading community whilst the Savings Banks’ returnii prove that, not withstand- a ing the ups anvi downs of the Colony, the m working classes\aß a rule are both - saving ■ and prosperous. 1 Whilst the year under'" review has not ’fulfilled the expectations formed at its commencement, it at any rate closes under fairly favourable conditions, with , every tendency to cause a hopeful view to Abe taken of the future prices of our staple products, wheat, wool. and mutton. TRADE OB THE COLONY. An increase for the year 1890 of the surplus exports over imports of £8,618,761, and a reference to the figures here given comparing the trade' of the Australian Colonies and New Zealand for the last five years, showing that New Zealand’s excess of exports over imports I'or that term is £8,953,220, must convince our greatest traducera that the Colony is rapidly improving her position; and itr is no wonder that the London financiers- are becoming more sanguine of the prospects of-New Zealand in the future, as it is beyond doubt, in proportion to its population, - the most wealth-producing of the Australasian Colonies.

Giving an excess of exports to South Australia of £2,460,824, Queensland £2,404,722, and New Zealand £8,958,220; while the excess of imports reads—-New South Wales £4,765,316, Victoria £45,880,450, West Australia £554,581, and Tasmania £1,401,970. , . wool, . .... Contrary to expectation, values daring the past year have been very undulating and only fairly satisfactory; latest reports, however, show a marked improvement in the competition at the London sales. ' For the year IS9O-91 all the Colonies but Victoria show an increase of exports over the previous year, that of New Zealand , alone being 3a,',724 bales, or nearlyequal to the. total increase of the remaining Colonies. . ~ • - ■ ‘ ' la- ■ Colony. Date, I 1880-91. 1889 90. ore'M .Bales, Bales, Bales, Victoria ... March 6 879,883 889,693 ♦ N.S, Wales ... March 5 S. Australia... March 4 .145,861 141,476 3,876 Queensland ... Fob. 28 88,043 50.20 S 7,888 ',v'. Australia., Peb. 28 C 5,554 ' 23,812 1,762 Tasmania ... fob. 28 I;V>9 17,190 2,609 Total Austrolian ~, New Zealand., fob. 28 348,9;19 210,265 83,724 T °asian aStr !' 1,369.2711' 1.321.256 68,022 * Victoria shows a decrease of 20/306 bales, time making a not increase of 48,016 bales. The Colonial sales were not «bo largely patronised by growers this year as last owing no doubt to the low prices ruling inducing them to ship; but evury year these sales must increase in importance, and the quantity sold in New Zealand last year, 57,344 hales, will appear very small, The increased attendance of foreign buyers, anxious to save intermediate expense* and obtain direct shipment, will cause our market to become such a true index .of values that wool-growers will not care to risk shipping on their own account. .The future of wool-growing is promisingThere is good reason to expect-that America will require more of our wool products, as if the M'Kinley tariff con-> tinues manufacturing will increase, if it is \ abolished so probably would he the wool duties., Franco also is likely to become , a greater consumer in the future. FROZEN MUTTON. From the table accompanying the report you will notice that, compared with the export for the previous twelve months, the Colony has made great strides. The in - crease has been—Mutton, 16,032,1171 b • lamb, 3,339,5941 b; beef, 1,698,8431 b; total’ 31,070,5541 b, or over 20 per cent increase • the total value of last year’s shipment e reaching the sum of £1,800,000. The in ■ crease year by year is so great, and' there seems little reason to believe it will net

continue; that the productiveness _ of New Zealand must become a bye-word in Great Britain. The return to shippers is at present not what it might be, but there can be no doubt of the increasing popularity of our brands in the Home market, owinn- to theirverysupenor quality.and ere long the trade will no doubt prove more remunerative to growers. Whilst diacussine the advantages to the Colony of this great industry, it may be well to consider whether any injury is being done to our focka. The numbers appear to keep up'in •n astonishing manner* as the following return will show County, 1890. 1891. tnor’se. Der’so Marlborough 61.400 52,700 ... 8,700 Xaikoura ... 385.495 185,514 19 ... Amur! ... 464, SO2 470,584 5,632 ... Cheviot 151,166 149,733 ... 1,436 Ashley ... 707,067 696,410 ... 10,657 Belyyn ... 637,202 639,024 1,822 Akatoa ... 239,075 250,523 11.448 AshTarton... 701,845 698.95 C ... .4,895 OsnUine ... 653,173 652,137 ... 5,949 "Wainuta ... 639,353 617.346 ... .23,008 Maokoazie ... 422,899 439,695 16,796 ... Totil ... 4,863,583 ... . 17,928 In Canterbury the decrease is only 17,928 for the year ending April 30 last, whilst the returns for tbe whole Colony, only obtainable ■. to May 31, 1890, put the total : number at 16,116,113, or 692,785 more than 1889. or tbe increase in two yean of 1,072,785, notwithstanding the •xport.of other two million carcases daring that .period. The quality of our flocks is, however, another matter, and much attention has of late rightly been drawn to the factthat it will, in the future, be almost imperative to reserve the earliest maturing jonng ewes for breedlM^urposes. > ■ ■. ■ ■■ GEAilfe 'The price of grain foe'i/he past few years haanot yielded the pecuniary return to the producer that it ought. We cannot | hope for many years to consume all we can produce ; but there are signs in all dirac-1 tiona that, from many causes, other prodncing countries will not have the amount j of surplus ■ products -to dispose of, thus ■ ensuring a good market for all the wheat we can spare. Whilst America has reaped a prolific harvest the past season, Europe . has had the most severe weather on record, j With regard to India; if report bo correct, ! within the last five years there has been a decline in the wheat acreage of more than : 8,000,000 acres. The largest exportation from India, in 1886-87, was 141,558,765 bus; whilst that of 1889-90 was only 25,764,133 bus; and the crop this season is less than , the average, as also is that of Australia. I Tear after year England depends more ' than ever upon other countries for a large . proportion of the breadatuffs and provisions that she requires, and her. products are . leas. I think, therefore, there can be no doubt of wheat yielding good prices for aome time to come. The returns of last harvest are by no means satisfactory, i owing.mainly to tbe absence of rain. The ' Canterbury returns show a considerable , reduction in the area utilised for wheat and oata:— j 1890.' • 1891. j Wheat, seres ... ... 166,712 148,590 bushels ... ... 3.764,245 2,656,805 Oats, acres ... 102,162 77,584' bushels 2,760.831 1,514.385 Barley, sores 13,060 13.306 bushels 390,452 214,953 The reduction in 1891 being Wheat, 1,107,439 bus; oats, 1,246,435 bus; and barley, 175,499 bushels. The land under 1 crop will this coming season be much in- j creased, especially in wheat, and, given ! sufficient rain and a favourable season, the ''results of next, harvest should realise a handsome return. As bearing upon the material prosperity of the country, the agricultural statistics are of very considerable importance to. all branches of .trade. ; The exceptionally dry weather has resulted in a heavy falling off in the returns, and ao far there seems a prospect of the crops suffering from the same cause again. I think from this fact we should learn two , lessons, first, the great importance of far- i mers obtaining all the information they , can regarding the latest and best system of irrigation, and facing the first cost of introducing* such a systems The returns would be enormously increased, and comparative 1 independence of the weather j would relieve farmers of much anxiety. The second point is a greater variation of products. I think it would be a wise policy for farmers to endeavour to increase , the branches of farming industry, which can be done in many ways. Time will not j permit my referring at length to these, but j I will, in passing, mention the j BRUIT INDUSTRY AS well worth their attention. The profits J to be derived from a well kept orchard ■ would prove a valuable addition to the ; income of the farm. It is satisfactory to | note ithat fruit-growing is becoming quite j an industry throughout New Zealand. It > is true that shippers have not recently been • ■o successful as was expected, both.as to j the condition on arrival and also the j returns received, but like all new iu- j duatries,time is required to give experience as to the beat markets, time of shipments and packing. ■ DAIRY INDUSTRY. _ ( The progress of the dairy industry, as ; far . as Canterbury is concerned, has not | been what was expected. It is surprising that factories have not been started in ■ more centres, especially as it is now recognised that the separator obtains from 15 to 20 per cent more butter from the milk than can be obtained by the old method, and the butter produced is of that uniform quality so necessary for wholesale purposes and shipmeifta. Denmark gets the lion’s share of the English trade, and Denmark’s secret is—uniformity both in quality and package. I trust our farmers will awake to the factthat the annual import of butter And cheese into Great Britain is nearly .£18,000,000 ; and there is no reason whatever why we should nob do a large share of th'e trade. The cool storage in Lyttelton and cool chambers on the steamers, combined with care in manufacture, should ensure a brilliant future for the dairy industry. FLAX. . j It is very unfortunate for those who in- 1 vested largely in starting new mills that, owing mainly to the great fall in the price of manilla and sisal, shipments have recently left no profit whatever, and in many cases have resulted in heavy loss. If flax fibre is to become an article of commercial importance, there is no doubt better samples must be turned out, and there must be uniformity. I notice a deputation of flsxmillers waited on the Premier, ' asking that a bonus be offered by Government for the production of superior fibre and for the appointment of an inspector to examine flax fibre intended for shipments. If these concessions are granted the industry will no doubt become of much greater value to the Colony. INSOLVENCIES. It'is satisfactory to note that in Canterbury the number of bankruptcies is considerably decreasing, as follows 1 (No Assets. '■ s. £ Ji icon 148 135.879 160.201 isio ::: ::: ... & °°' s23 emOTthsiaOi toJuDe 14.433 39.353 There appears no reason why. this tendency towards a state of diminished insolvency should not be, still further developed; the proportion or failures which cannot justly be attributed to misfortune ia :etill large. It seems to me that the proposed remedy, viz., the abolition of laws for the collection of debt baa much to commend it, without such protection the credit system would shrink to normal and safe proportions. TECHNICAL EDUCATION. Chambers of Commerce all over the world are taking into consideration the great importance of fostering technical and agricultural education in schools. The London Chamber ia aiming to make commerce one of the learned professions, and to identify commerce with culture. The time when good education was only within the reach of the wealthy has long since passed away, and to-day we are living in an age of .‘free education; bub the education received by the average youth is inadequate to fit him for many business positions. I am glad to see a movement is being made in New Zealand in the direction of causing technical and agricultural education to he taught ia our schools. By this means we

will turnout our young men more capable of fighting their way in the world, and of assisting in the future progress of the country; and we must bear in mind that unproductive labour is the chief cause of poverty. midland railway. As there can bo no doubt of the immense benefit the Midland Railway will be to this Province, you will be pleased to heat of its progress during the past year. Twelve months ago the line was finished and open for traffic only from Brunnerton as far ns Ahaura, a’ distance of thirteen miles on tha line towards Eeefton. By Christmas the remaining sections up to Reefton, being forty miles from Brunnerton, will bo finished and running. The traffic obtained on the sections opened has been very encouraging and is steadily increasing. On tbe line from Brunnerton towards Christchurch, about eleven miles of which is completed, occasional trams are run to meet the requirements of the timber trade which has begun there. A good deal more of this line would have been built had not the difficulties arisen as to the deviation round Lake Brunner, which threw the work back some nine months. Immediately the deviation was agreed to, a contract was let for five and a half miles to Kotuku station on Lake Brunner, and it is proposed shortly to let further sections towards Jackson’s, on the Toremafcau river. Once the railway reaches Lake Brunner a very large area of timber land will be made available. In addition to tbe above works, good progress has been made by the contractors, Messrs J. and A. Anderson, with the section from Springfield up to Patterson’s creek, and also with the section at the Nelson end from Belgrovo towards the Motueka Valley. The Company’s Engineer-ia-Chie£ has now completed his plans for the Abt system of incline line over Arthur’s Pass, to bo substituted for the costly summit tunnel. The plans have been submitted to the Government, and should they be accepted the completion of the line om ■ Christchurch to the West Coast will only require about two and a half to three years. There is, therefore, no reason why the whole line should not he finished within the contract time, 1895. The adoption of the Abt system of incline at Arthur’s Pass will save considerably over half a million sterling in first cost; there will also be a considerable yearly saving in the cost of working the traffic. The plans show that it is capable of transporting 2.809,000 tons per annum—that is more than the whole traffic of tbe New Zealand railways. There is no question, therefore, whether it is suitable for heavy traffic, and there should bo little doubt but that it will be accepted by the Government. The Company .is* commencing to open up a timber trade iu Westland timbers with Australis, and has placed orders with sawmillers along its line of railway for two and a half million feet. Without the'railway, and without energetic steps being taken, the forests would have remained unutilised for many years to come, there being no one having sufficient stake in the district to incur the expense of opening the trade. The timber trade not only means traffic to the railway, and employment for the people felling and cutting the timber, but also leads to permanent settlement on the lands as tha timber is cleared. FEDERATION. On a former occasion, prior to the Convention, I expressed my views on the federation of the Australasian Colonies, and, after going carefully through the proceedings of the Conference, I must confess I ain not converted to a belief in a federation including New Zealand at present. The subject is an enormous one, and the idea of seven great Colonies uniting for mutual protection and advantage is well worthy the greatest thought and consideration. I feel that, for the present, we should aim at a commercial not political union. “ Commercial Reciprocity” ia a watchword which has common sense, mutual profit, and practicability behind it, and which will purely triumph ia the not far distant future. DEFENCE. This important subject has Been* frequently referred to at annual meetings of Chambers throughout the Colonies, as being most essentially a commercial matter, and one in which business men should take an interest. My attention was drawn to the subject recently by reading a statement made by Major-General Tulloch, of Victoria, that New Zealand has no organised system of defence. You are no doubt aware that the expense of keeping up our present system is considerable; and, if the assertion referred to is correct, our defence force is comparatively useless. The total cost of our harbour defences to June, 1890, was about £461,000. The average annual cost of permanent officers and artillery and capitation to Volunteers is about £60,000; in addition to this there is the annual contribution to the naval squadron of £21,000. I believe the harbour defence, if supported by an efficient land force, to be good (although probably coating more than it ought). The protection of the navy cannot be too highly estimated; bub the land forces, I am convinced, are badly armed, short of ammunition, and quite disorganised ; and what would happen in case of an attack is too evident to require any great amount of foresight to realize. Successive Governments for some years have undertaken to introduce great reforms, which have so far ended in smoko, mainly owing to the public generally and their representatives in Parliament treat-

insr the subject with an indifference most difficult to conceive, when it is considered to what extent the funds of the Colony are affected. There is not time, nor do I wish, to go deeply into this question on the present occasion. I merely wish to urge you as business men and taxpayers to assist in causing this great waste of public mcney to be stopped without delay, or in seeing that it be expended in securing an efficient defence for the Colony. COiIa.TEKCIAIi BEI/ATIONS OP BRITAIN AND j HER COLONIES. ! There are two influential Societies, the 1 Imperial Federation League and the United Empire Trade League, working hard in England to attain the objects for j which they were formed, and as these proposals will be discussed at the Conference of Chambers in London, at which this Chamber will be represented, I will briefly refer to them. The desire of the Federation League is the consolidation of the British Empire, giving the Colonies a real and effective share in the privileges and responsibilities of the Mother Country. No practicable scheme is at present put forward to accomplish these ends; and, however desirable they might be, their 1 attainment seems not within reach for j some years to come. There appears to be more feasibility in the aims of the Trade League, whose programme is (1) to free | the Mother Country and the Empire from j the treaty engagements with foreign powers, ■>uch prevented the Colonies giving any preference to trade ; and (2) to summon an Imperial Conference to consider the most 'practicable plan of bringing the various portions of the Empire into closer commercial union. With regard to the treaties objected to. Lord Salisbury, who otherwise seemed inclined to differ from tho League, recently said, “ When these unlucky treaties were made by Lord Palmerston's Government some thirty years ago, the question of our relations with our Colonies could not have been fully considered, and they did not seem to realise the importance of the engagements they were entering into.” The immediate importance to us is the question of obtaining freedom from these treaties referred to, as they will prevent any arrangements for commercial reciprocity with Australia. POSTAL. The measure proposed by the Post-master-General to reduce the inland postage to Id is strictly in accord with the feeling of the times in all parts ot the world. I am opposed to the opu ’ u tnafc the benefit will solely result to the more wealthy classes of the community, and teel confident the experience in reductions of this kind hitherto will also apply to this case, vis., that increased correspondence will, in a short time, make up the difference. At the International Postal Congress recently held at Vienna, at which delegates from all parts of tho world assembled, it was decided that the Aus-

i tralian Colonies, including New Zealand, Ibe admitted to the Postal Union. The | advantages accruing from the Colonies j joining the Union are considerable. | railway a. The reference in your Committee’s report to the concessions asked for from the Commissioners by farmers, manufacturers and merchants, not many of which the Commissioners could see their way to grant, naturally leads up to the question, are the railways' to be worked as a I source of direct revenue, or for the benefit |of the country generally ? I think if the latter principle were affirmed by the Legislature, the Commissioners would have a | clear course before them; but as it is, I with the Colonial Treasurer on the one hand asking for revenue, and the public on the other praying for reductions, they have a most difficult task to fulfil. I hope the opportunity will be given to test the system advocated by Mr Yaile, and very similar to the zone system so successful in Hungary; the tenor of feeling in England is in favour of a uniform railway fare; the Post Office ignores distance, why not the railways ? An offer has recently been made to purchase our railways, and very properly, I think, not entertained by the Government. It is one of tho great questions of tho day in America and Great Britain to make the railways tho property of the State. The New Zealand railways can be worked for the benefit of the public generally now, but if once disposed of would be most difficult to control. LABOUR AND CAPITAL. "The settlement of differences between labour and capital is one of the great questions of the day. The truth is being more clearly demonstrated all over the world, that both strikes and lock-outs are only mischievous, and of all resorts for selfvindication the most harmful to all concerned. The struggle has been well described as a “ tug of war ” with a precipice behind each of the combatants, the success of either means the destruction of both. A compulsory resort to impartial arbitration would probably prevent many of tho disputes which now take , place. > "Wages and hours of labour in our manufactories cannot wholly be artificially arranged, but must to a certain extent be guided by foreign competition; as, though protected by duty , and cost of importing, our local industries would soon suffer if the cost of production is too much enhanced. Profit sharing with employees appears to be growing steadily in favour, and the 1801 report to the Board of Trade is worth, reading by those interested in the subject. The great difficulty is that in many cases the workmen object to share in any risk of loss, and prefer the wages system. ' Cooperative production is also the hope of some, - but X am afraid, from past experience, this will require many changes in human nature before being successful. Eeally, after all, the whole question resolves itself into the way capital is used. A great capital is a great blessing if it is employed in adding to the resources and advancing civilisation. And it is gratifying to note the increasing disposition of employers to cultivate pleasant relations with their men; if this is reciprocated, we shall find the difficulties between capital and labour of easy solution. LAND SETTLEMENT. We are suffering from the extravagant expenditure made in the past so far in excess of requirements. There can be no I doubt that the towns are much too large ' for tho trade, and the distributors are too numerous in proportion to the producers. Of course, against the borrowed millions spent in the past, we have valuable advantages which should assist in inducing settlers to take up tho land of the Colony, viz., railways, roads, bridges, &c. It is of vital importance that the producers should be increased by promoting land settlement, and I think it would be wise to enable all settlers desirous of making the land freehold to do so, as. I firmly believe the freehold is the only holding that will attract men to build up homes and work hard on the land. With regard to taxation—which is a necessary burden of Government, and is the price paid by persons and property for protection, and in proportion to ability to pay should—-Jje allotted to all—l am not yet convinced that tho system to be introduced is correct in theorv. It has been said that “no man made the land, and that, therefore, no man should own it.” The former part of this contention may safely be admitted, but the difference between the land in this Colony as it was and as it is is due. mainly to individual enterprise, and, therefore, I cannot see how land can politically be treated differently from other property. Eegarding the exodus of population as revealed by the last census, I think we may safely consider this as over, and I am certain many of those who left New Zealand would now gladly return. The loss most to be regretted is that of many of our young men, who should certainly have been able to settle without leaving the Colony. A great question with regard to our young men is that education seems to draw them to the towns, which, are already overdone, to obtain light occupations instead of remaining upon tho farms ; whereas the change must be the other way; because, as it becomes impossible for men to establish themselves in business in the towns, there will be a revulsion to the only other independent life thkt remains, viz., that of the farmer, fruit grower, &c., and consequently I imagine we shall see many of our large farms subdivided ere long without it being necessary to impose a nationalising tax. . CONCLUSION. With regard to the future we must, I think, agree that the Colony has settled down to a slow but certain working out of its own prosperity. The trying position of having to wait until the amount derived from our surplus produce flows back in increased imports—genuine requirements—cannot last long. Our private and public indebtedness is indeed great, but our assets are commensurate. This is no time for despondency, rather one of hope; and, with caution on the part of our governing bodies, faith in our boundless resources, faith in ourselves, I have great hope that our unequalled Colony will, before many years, excel in prosperity, and what, perhaps, is more important to business men, be in a thoroughly sound financial position. I now beg to move the adoption of the report and balance-sheet. (Applause.) Mr E. S. Harley said he had much pleasure in. seconding the adoption of the report and balance-sheet. The mbtion.was carried unanimously. The Hon E. W. Parker proposed a vote of thanks to the retiring President and Committee, who had, he considered, done a deal of very good work. The motion was carried by acclamation. On the motion of Mr E. W. Eoper, a vote of thanks was passed to tho auditors j for. their services during the past year. j The meeting then closed.

Total Exports for Total Imports for Five Tears. Piv.e Tears: New South Wales £. 100,133.121 ,e. 101,098.437 Victoria ... ... 63,001,185 32,899.029 108.&S1.635 South Australia .. S0.42S 805 Queensland ... .. 31,855,332 29,159',.580 West Australia ... 3,348,597 3.905,181 Now Zealand ... .. 40,457,270 81.504,050 Tasmania 7,081,025 . . 8,172.595