REVIVAL OF TRADE.

Poverty Bay Herald, Volume VI, Issue 948, 12 November 1879, Page 2

REVIVAL OF TRADE.

Our late English telegrams announce a further and more marked activity m the various branches of trade. Private telegrams record a considerable advance m the price of iron, and this is the most encouraging: sign we have experienced for some time, and by last night's telegrama we learn that the wages of the surfacemen of the Cleveland iron works have been raised 10 per cent. , and that the Board of Trade returns of the exports for the last month show a decided improvement, the increase over the previous month being £437,508. There is reasonable ground for hope that under these improved conditions the recent rise m price of wool will be maintained, and that there will be a further advance very shortly. A penny a pound added to the price might be the result of mere speculation on the part of buyers, and, as we have seen of late, such advances are quickly lost, but the brief telegrams received during the last month do not indicate any unwarranted speculation, but ascribe the increase to a genuine revival m the demand. The wool-market could not make any material strides while the iron and other manufacturing traded showed no more activity, but all branches of industry appear to have received considerable impetus of late, and there is every indication of better times soon. A good harvest at Home next year would greatly increase the purchasing power of the masses, and next year at this time we may have accounts from England of a very different character to those which have during the. last twelve months been so common. Manufacturers' stocks must by this time have become very low, and even a moderate increase m the demand would cause many factories now closed to be reopened. We m New Zealand will watch with interest and anxiety, but yet with hope, for the next accounts from Home.