NORTHERN ADVOCATE DAILY SATURDAY, MARCH 16, 1929. NEW ZEALAND'S TRADE

Northern Advocate, 16 March 1929, Page 8

NORTHERN ADVOCATE DAILY

SATURDAY, MARCH 16, 1929. NEW ZEALAND'S TRADE

Registered for transmission tkxougt the post as a newspaper.

There has been ample evidence during the past few months to warrant the prediction of a record trade year for the Dominion. On all ,hands increased production has occurred, and the prices obtained for primary products have been of a most satisfactory nature. This was not surprising, as the indications at the commencement of the producing season were all in the direction of bettor production and prices. If is, however, particularly pleasing to obtain tangible evidence of the Dominion’s prosperity, which should go far to restore in people confidence which the effects of a worldwide slump shook in a very disconcerting manner. The Customs Department has just issued the trade returns for the month, of February. These returns make very pleasant reading. The Dominion’s exports, it is shown, reached the huge sum of £8,056,083, an increase of £213,261. Only twice have exports been greater during any month. This was in February of last year, when the total was £8,336,263, which established a record fo* any one month —and in January of this year, when the amount recorded was £8,449,931. Compared with last year exports show an increase of £1,626,000, while imports have expanded to the extent of £2,037,700. The apparent favourable balance is consequently lower by £411,696. The valuation of exports exceeds by £895,188 that for the corresponding period of 1924-25, the year that produced the record total of £57,449,976—that for 1927-28 was £55,619,285. These are figures which cannot but impress upon the people of the Dominion the wonderful potentialities of their country, and spur the Government to make possible much larger exports, which is well within the bounds of practical polities. It is quite beyond the power of New Zealand to fix world prices for its products, but’ the Dominion must see that the maximum quantities of butter, choose, meat and wool are available to secure prices which may bo ruling. That is the lesson of the slump days now happily past and of the tra of prosperity which the Dominion is now enjoying.