THE GOOD TIMES IN STORE.

Otago Witness, Issue 1950, 4 April 1889, Page 11

THE GOOD TIMES IN STORE.

I At the annual meeting of the shareholders of , the Colonial Batik', held in Dunedin last week» the Chairman (the Hon. George M'Lean) in his | address made'the following remarks on the outlook fof the colony :— ■ • ' Let-u s look at what is coming in the future, of. New Zealand as it is afc present progressing. , I intimated" at last meeting 1 'that there would : be a large sum coming into New Zealand, as the increased price of .our produce — frozen mutton and other exports from the colony; and if anyone looks at our exports and imports now, I ' think they must be Satisfied that the colony i» progressing in a very satisfactory manner. If we are careful now and take, advantage of the recent drought 1 in Australia (which of course has been agreat misfortune for them) there are exce)lent prospects before us. Take, the wheat country of this colony, and see the splendid j harvest there has been and the splendid weather to get it in, for one must look at the fact that it I is so well dried this year that it will get a name for itself in Britain and all the colonies of Australia. I only hope our farmers will be wise and take advantage of the good price when they can get it, and not let outsiders come in and steal their market; on the other side. If they will leave alone grain' bag quarrels (which, I suppose, there is mighty little in) and turn their attention to getting tbeir produce in on the other side, they will benefit themselves considerably : because anyone who has watched the market when prices run so high will have seen how, if a foreign cargo or two comes in, the prices at once drop down. If our farmers do not take care the same thing will happen again. They have a good harvest and a good market ; if they allow other people to snap it away from them it will be a loss to New Zealand and themselves. That is as regards the wheat growing country. Going South now to the oat growing country, which is also magnificent for the dairying industry, look at the rapid strides that it has made during the last year. I venture to say that the great collapse of land in South- " land will soon be lifted again. The profits the farmers are making out of dairying will soon set them going again. ; There is also a fine market for their oats ; but the same thing applies to this as to the wheat— they musb not lose the chance of a market. Therefore, if we take our wool, mutton, grain, dairy produce, mining, and coal industries, there c«»n be no doubt that this last year at least we ought all to be satisfied with the great luck we have had in the increased export oil all our produce and of the prices got for it. All this money coming into New Zealand, which is not borrowed money, but will be spent in the colony, is bound to raise the country agaiffpand people who for years have had such a " down " upon New Zealand are now turning their attention here for investments. You have seen lately that land whioh a little while ago could not even be given away is now saleable at some price or other. Hence I think we have reason for satisfaction at tbe progress we are making here — progress which this bank as an institution, which is part of New Zealand, is bound to profit by more than others. And I would ask the people of this country to rely more upon colonial institutions. If it is to the interest of foreign institutions to take attay money from hereto feed their. principal branches they will do it, but a New Zealand institution such as .this rises and falls with the people. It is right that pur institutions should be of New Zealand, and rise and fall with the colony, and I am satisfied this institution will take 'its place among the foremost, work its way forward, and be. a credit to the promoters and shareholders. ,