BUSINESS MATTERS.

New Zealand Times, Volume XXXI, Issue 4889, 22 November 1876, Page 2

BUSINESS MATTERS.

TO THE EDITOR OF THE NEW ZEALAND TIMES. Sir, —Notwithstanding the sound financial position in which the prosperity consequent on the late years of successful wool growing in New Zealand, together with the employment of so many millions of foreign capital, and the opening of so much new country, placed merchants and the smaller storekeepers, it has been wondered how it is there are so many of them at present collapsing and seeking the aid of that benevolent asylum for the distressed—the Bankruptcy Court. We are continually hearing as . reasons the hitherto unknown depressed state of trade, the low price of wool, the large number of unemployed roaming about the provinces seeking for work, and as I firmly believe of such (if there be any) praying they may not find it; and as a finale—O, happy Government to be able to give the distressed and the grumbler a shoulder to lean on—the suspension of many important public works of the colony. Now, I have had some slight experience in New Zealand matters, although I do not happen to be one of those who were here in what are called the “ good old times ” No ; such was not my luck ; but I have been here long enough to know how to get a percentage on a £, and that the above reasons are not the causes of so many going to the wall. It is only a few months since, in. these columns, I anticipated such a depression as that from which already we are suffering the first fruits, and I would briefly direct attention to what I consider the real cause of this. If, for instance, a comparison be made,of the prices quoted in your columns of this morning for wholesale parcels of oilmen’s stores and the retail prices for the same articles ticketed in some of the grocers’ shop windows, and also advertised by them in the press column, the surprise is how it is done. Well, I fear it can only be done by “doing ’* the importers. I assert that if there were less reckless and unscrupulous trading there would be less necessity for renewals on the 4th, and, as in too many cases, ultimate ruin ; and until there is more honor and principle imported into the conduct of trade, there is very grave reason _ to fear success in business will be the exception instead of the rule.—l am, &c. w.c. Wellington, November 16.