THE TRADING POSITION.

Otago Daily Times, Issue 20963, 28 February 1930, Page 7

THE TRADING POSITION.

A NOTE OF CONFIDENCE. " BUY NEW ZEALAND GOODS.” (Special to Daily Times.) AUCKLAND, February 27. “ I should like to eee each one of us take to heart Sir Charles Fergqsson’s suggestion that, wherever possible, we should buy New Zealand-hnade goods. The putting into practical operation of such advice would do much to create additional employment within the Dominion.” This appeal was made to members of the Auckland Chamber of Commerce by the new president, Mr Malcolm Stewart, at the annual meeting.

„“ I f Ge i> however, that it is in connection with farm produce that this country is capable of making the greatest development, and it is rather to be deplored that so few of our young people entering manhood in New‘Zealand are willing to take up farming as an occupation,” continued Mr Stewart. “To .some extent the environment of the boys at home and in the schools is at fault, but I feel_ that perhaps a good deaf of the disinclination of the young people to enter upon farming as a career due to the croakings of some of the farmers themselves. A more optimistic tone on their part, which the facts really justify, would do much to remedy matters.” Mr Stewart expressed confidence that the country would win through its difficult times. It was true that there had been a drop in the prices of produce, but increased production had largely offset the fall. The net effect was that for the year ended December 31, 1929, the exports from New Zealand had dropped only 1 per cent, in aggregate value as compared with 1928, At°the same time, however, there had been a not entirely healthy increase of about 9 per cent, in the aggregate value of the imports, this increase (which was mainly in luxury articles such as motor cars, the need for (he importation of which in such large quantities was problematical) being due very largely to the favourable balances in evidence some little time back.

“ The position therefore,” concluded Mr Stewart, “is ,that although New Zealand’s external trade within the past 12 months shows a substantial excess of exports over imports that excess is less than the excess of 12 months ago. There is nothing inherent in New Zealand’s present external trade position that would warrant a drastic raising of the local bank rates or an adjustment of the exchanges against New Zealand and the recent .alterations affecting these rates have undoubtedly been due to the adverse conditions which have been developing for some time in Australia.”