THE YEAR'S TRADE.

Otago Daily Times, Issue 14716, 27 December 1909, Page 6

THE YEAR'S TRADE.

■ "..-... . .- .- t CAUSE FOR CONGRATULATION. LEGACY OF BRIGHT PROSPECTS. c A hearty Christinas greeting is no coin- n jnsation for a depleted exchequer, i crbn! •* best wishes" da not. provide material i good cheer." If the individual to whom < e extend our seasonal felicitations has not i te wherewithal to.realise that which we ( stend, he is likely to have but "cold 1 uiifort.' At Christinas time there is ( ustent, a general desire to escape from < trade " for some brief period. But were ] not for that trad;?, and satisfactory.trade > t that, Christinas could not be duly celc- i raid. • It is, therefore, appropriate at i hristnias time, approaching as it does tc | ic end of the year, to glance at the con- i ition of trade wheh has prevailed throughtit the 12-month period, and by so doing ■ ather to some extent the measure of : eneral happiness—though happiness does ] ot necessarily follow from prosperity— ; holy to be realised throughout the comlunity. . Last, year closed and 'the New Year . pencil with but'medium prospects. None f the markets for New Zealand's staple roduets wc r c in an inflated condition. Vool.and other lines.bad in the middle of lie year sutTeied a slight fall; less money fas as a consequence in circulation, and lis, added to Ihe derangement of a general lection and the lying up of capital by irge importations due to" the 1907 tariff, 1 c-trietcd industry in some degree. But I nth the passing of the old year and < ho election and in improvement in the 1 iricc of wool, some restoration of trade | ook place—perhaps it had never been so j iad as the more pessimistic believed— ( nd the first Ihree months of the year main- < ained a fair level of general prosperity. 3ut with the coming on of (lie winter i liont-lrs and the regular seasonal restriction < if trade due solely to that factor, together I vit.h the operation of social causes,'there t ell upon the commniiily n period of >lrin- t ;c-r.cy which, unfortunately necessitated in : nti.iiy cas:>s il;c redticlicn of sialfs anil the ; estriction of logitiniitle oxpansion of trade, i is well as of spo:uklive enlnrprisos, the ilfect of all Ihew speeitil «uts':s being ui'ther indubilably enhanced and rendered ! nore Irving by the general retrenchment rolicy which Ihe Government found itseli lompellcd in May last to announce. In a. community so comparatively small is New Zoahnd the throwing into lion-ein-iloymenl of it body ci men is an action in Is results much like that of throwing a stone into a pond. The slone dor.s not- sink tnd leave lxdiihd n:> tell-talr- ripples. There tic ripples which ratlinfc in ever-widening drcles, carrying to tiui outermost bounds ot be pentt ;ome ;■• !le:tiort of the disturbance n the centre. .lt"lronohmeiit it o clf might nivo bcen'ii«'oni|>li=licd with but a niot'iicmn )f aflor ill-c'r.'.jis. .Hut the publicity given to the matter ami the fear iusoired in people by tin! bruiting- abroad exaggerated liialtiK-s. aiKl rendered more diffi.'itlt n proper .•idjnstnicnt of society. For the win lrr, tbc-n. importers and nier-•hani.-.genenilly report that there obtained out l:avo sales of necessities, betokeniing a jencral praciiw of et-onomy and an almost tolal avoi-Jam-o o( all luxurious purchases. liailcs—bu.ildiii's'. engineering, etc., were very slack, particularly in relation to cn?inecrinj, ami many local firms were comtjclkd to redure their hands. A very adequate reflection of the exigency of this iwriod is to hi- sui-u in the "record of the work of the fliflcia' Assignee, who reports thai, for the i.ist part of~lho year and Ihe latter part the work of the office was slac*. but that in the darker winter months ihen: was a \try condderable increase in the tm'mbe: of bankrupteios, both in Diuiedin :md all cv-2r New Zealand. The figures for the year's bankrnptoy proeec;lings' will not be available til! tho <mi.l of the month. T'nouuh economist- altogether deprecate Ihe possibility of .striking a country's baiiiJicc shcr-fc sa(,isf,<.ctori!i' from a mere consideration of the Custom returns, yet. a twi.pare.tiyc statement of these front year to yivir is nhviiys possessed of interest. Last year th-> Dunedin office fer *« 1] : '""i'd'-" of-the year the su-n oi Mm,, nil- this year the total for the ike period is hut £369,557. There aie, however, factors in operation to account for this decreased rovenue-for the drop does not imply „. diminution in the bulk of importation, but adjustments in the tariff ra.o3. In tbfi aitL'T-.-ition of the tariff the stigir duty ha* been sacrificed; the rate on cotton piece goods and linen mece <™ds ha.s been reduced; the change in" the mamifncturo of silks has affected the total; tobacco pipes and manv other small linos also go to offer an explanation of the deficiency. As regards t'ho bulk of importation, this is now on a standard 'fully »P to die requirements of the district. ion? i -n— T- a "!' on th ? P ass 'ng.of tho 180/ tarift into law a timo was set for it o. WT,iio operative. Merchants naturally .took every advantageVif the grace thus given them, and where line,, pc-rmittod >t they imiwrtcd ahead for. a considerable into. 1 heir capital thus lying idle has been suggested as contributing not a little to tho general depression just passed, ftow, however, that that stock has all been unicd over and the capital released rcula.r importation.of all lines has been reKsmtied on a proper basis. On the point ot tarilt alterations it is interesting to nolo tho etlcct of the elimination of duties on dried fruits has had on the consumption of these lines. Merchants generally aver that this consumption has increased o .a. phciioiuenal oxtent, and is now up to ■hno and four times what it was before tho reduction. Particularly is this the case m regard to sultanas, tigs, and seeded liaising,-as' well as other lines of a like nature New Zealand lining essentially at the present fmio an agricultural and pastoral country, the fortune of the seasons governsto a very great extent the fortune of the country. I>or the past two or three months t'ho stimulus of a splendid season, a prospective record output in manv lines, excellent worlds markets for practically every staple- product has como as, an optimistic benediction upon the people. Trade has revived in a wonderful fashion. Tho sheep farmer m tin excellent market, the dairy tanner in a record] output, the. wheatgrower in a good prospective yield, with tair prices promised-f. IK | themselves facing the future with glowing hopes and reasonable anticipations for satisfactory profits, lius optimistic feeling has permeated the community and resulted in the (low of ready money, ami in this flow the people of tho town have latterly benefited under tho infltienoe .of the Christmas trade. Town business has recently been cxcelent. • An instance is that a ncwiv-cstab-lished drapery firm in George street drew up on its commencement of business a table of results to aim for. For tho month of November that, self-imposed sum was tripled! Apart from t'ho' indication of a community's prosperity that lies in the purchase of good clothes, perhaps the most satisfactory and most regular "pulsa" is to be found in those businesses which appeal particularly t 0 the luxurious in people. Under liiis head of unproductive expendituie, then, come jewellers, booksellers, music dealers, etc. In regard to the latter business a reinarkab'edevelopment has (al;e.t.,place in relation to the sale of gramophones. This development has led to an almost abnormal trade. ati<l more gramophones have been sold I'll is year than in any previous vear. In the bookselling business tho special feature for tho sea'son is of course tho Christmas card. The tendency here is always towards the new and" the prettv. That at amed, tlie sale corresponds. This year's sale has been distinctly gocd, therefore the quality may l>e judged. Jewellery and liianos-rSulMtamial indications of Christmas godwil!-have each experienced good sales. Photographic goods have also had a- large vogue, thoutrh in this trade a complaint is that the competition is too keen for the trade to be gained. ' . .A particularly bright point in a review of. the year's irade is the legacy it eaves Miind in the shape of most excelent prospects. . Though-the past vear has wen redeemed from ba'dfess by the beginning and tho end, it will bo a very pleasant expcrJciKc for all. business people it the opening promise of this new vear is maintained throughout the twelvemonth period without the set-back of last winter. And this, in view of tho special cause* which operated to secure that restriction and depression last year, should be possiblo of attainment. THE LABOUR YEAR. The Labour Department for Dunedin repotts that during the year employment has been intermittent, while in the months of June and July there was a period oi marked depression. This was particularly acute with the ironworking industries and the building trades, and also in respect tc outside unskilled labour. This temporary difficulty was met by the adoption of vigorous steps. The- Government resumed work on the Mcsgie! .luplication works; the City Council and other local bodies genorously responded to the appeal to provide immediate work for the men out of employment, and this hearty cooperation enabled the .department to tide over the difficulty. As an indication of the ■■ steps'- taken, it may be said that in tho short period of 10 weeks employment was found for over 600 men. This depression- was the more noticeable inasmuch as it was poetically the first for

bout 10 years, and with it* pawing it may 10 expected another era, of prosperity j's wiling for the community. In the past quarter there has been a disinet revival in trade and business, and onse.p.iMt. improvement in the labour rorkct. The building trade is now voiy clivc, I hero Voing in progress of erection !i Stuart street quite a number of buildrigs vrhiish yield employment to a number if tradesmen. As regards country work, hero • has been so much offering that a lecidodly improved state of affairs has been irouglit about. A particular feature in relaion to tlie year's work has been thai in '.•mneetion with the butchering industry, u the world's markets this experienced a el-back, and locally from the operation of number of auctioneers in engaging in soling meat by auction a decided reduction in he price of meat took place, this being, ).f eourso, to the direct advantage of the vorking man, though, naturally, it adversely affected in some degree the regular iidustry. The usefulness of the departnent in supplying labour is now being more generally recognised by private employers, but not to the extent that this channel deicrves. Immigrants to Otago, it may be >aid, have not boon numerous, as they jonerally book to the northern centres.