EXTRAORDINARY PROSPERITY.

New Zealand Herald, Volume XLIII, Issue 13191, 31 May 1906, Page 5

EXTRAORDINARY PROSPERITY.

. *©.—, HIGH PRICE OF WOOL. WONDERFUL DAIRYING SEASON. [BY TELEGRAPH.—OWN CORRESPONDENT.] Wellington', Wednesday. " There is one. thing that calls for comment," said the president (Mr. .1. 0. Wilson) at the Farmers' Union Conference at Pahiatua, "raid that is the extraordinary prosperity of the country at the present moment." It was 47 years since the price of wool was so high as at presejal. Two or three times the price has gone up to over a shilling, but the average in the London market lor the May sales, he was informed, was over 13d. , That was an enormous price, and must very largely affect the prosperity of the country, because when wool was so high the price of wethers and lambs was also increased. There was no doubt, however, that New Zealand had a serious rival in Australia, as far as the lamb trade was concerned, though he did not think the Argentine was so much to be feared. Australia was beginning the lambing now, and would get lambs on to the market at a time when there were no others.. Still, New Zealand could do very well with less than the present prices of lamb. In dairying also we had had a wonderful season. Although there was a great deal of rain, there was an absence of such cciV' a.» was experienced in the previous season, and the dairying season had been very successful. The grading results had been higher than ever before, and the season was going on longer than usual. Last year the factories were shut down six weeks before the presentdate. They were this year churning every day for a month longer th*ii last year. The prices also were very remunerative. This affected a very large number of people. The export of wool alone this year, said Mr. Wilson, would be worth six millions, a.nd the dairy produce would yield something like £2,072,000. That was an enormous revenue, irrespective of the by-products, such as skins and l frozen ' meat. There was eight millions of money coming into New Zealand this year, the exports having risen by a million a year for the last three years. Last year nobody in his senses would hoive expected higher-prices for wool. Obviously they would have to prepare for lower prices, and be advised them strongly to make hay while the sun shone by putting up good houses, and getting their properties into good order. They might get land for their sons, but the difficulty was to get hold of suitable lands. Whether the present prices were too high he did not know. In the neighbourhood of towns the prosperity had enormously increased the price 'of land, and he did not know how they were going to get out of. the position.