Poverty Bay Herald PUBLISHED EVERY EVENING. GISBORNE, FRIDAY, JUNE 13, 1919. DOMINION TRADE OUTDOOK.

Poverty Bay Herald, Volume XLVI, Issue 14935, 13 June 1919, Page 2

Poverty Bay Herald PUBLISHED EVER Y E VENING. GISBORNE, FRIDAY, JUNE 13, 1919. DOMINION TRADE OUTDOOK.

An intemting survey of the trade prospects of 'New Zealand is given m his annual address by the Chairman of the Rank of New Zealand, who usualjy succeeds m making his statements on commercial matters most informative. Mr. j Harold Beauchamp seems to !be of the opinioA that present prices for New ZeaJ and produce will be maintain/ ed for awhile longer, but he points to the prosgects of competition and the probability of a decline m values, and urges that the right policy for this country is to seek by every means m our power to increase production. In the dairy industry, he says, laudable efforts are being made to increase- the number of products; m othei* words to eliminate waste;' and such efforts should be encouraged' bjr the authorities. Tlie manufacture pi dried milk, sugar of milk, casein,'. eta; is ah'eady being' undertaken on a somewhat extensive scale, and steps are being taken to substantially increase the output of these manufactures. In the Waikato alone dried miUc factories to deal with the product of 20,000 cows are being, established, and m Taranaki it is proposed to largely extend the manufacture of dairy by-products. With respect /to meat, the Bank President touches, briefly on the menace of the American Beef Trust. It has spread its tentacles over Britain, he says, and is quietly doing the same m Australasia. Apart from this we must expect to meet with keen competition from South America, and perhaps from South Africa also, but on the other hand there are good prospects of an extended" market. During the war frozen meat (including meat from New Zealand) wai used m Prance and Italy, and some frozen lamb was sold m New York. 11 is the opinion of some that there wil] be a peiTnanait demand for frozen me.al from the Continent of Europe ; but some of the leading meat; firms are inclined tc believe that the prices will debar tiw French and other impoverished Contin: ental nations. from largely increasing the consumption . However, there is\ nc doubt tliat New Zealand can make sur< of a good market for all the meat thai can be shipped. The question is r&thei one of increased'- production. . 'Mi Beauoliamp mentions that owing to the largjß amount df meat: in store,- it is dif, ficitlt to see how a complete eleaxance can be effected before next season's op erations begin m November; but on i conservative basis, it may be estimatec that sufficient tonnage will be availabli to clear freezing companies' stores to ai Extent that will enable killings to pro ceed interruption -well into nex season. With respect to wool, there i 'every reason to bdliteve that the marke will remain favorable for many years The population needing wool isvincsreas ing far. more rapidly, than the flocks indeed, it is. a question whether the shee] m the world have not materially de creased during^ the past five years Prices may not. be as high as they an to-day, biit they will certainly be at i profitable, level for sheepmen -who knov tlieir business. How important the woo industry is ,to ' New Zealand j may b( gauged from the fact that the wool dij whicK. will close at the end of the our rent month is valued at £12,0p0,<X)0. Mi Beauchamp does not say, anything abou increasing pi^oduction of wool'manufac tures-y but "we should think that then is now a» great opportunity for building .up. the Dominion woollen. industry. Th< mills throughout . New Zealand are re ported to be quite tlnable to cope witl their Ordei's, - and- seeing the great repu tation that our woollen goods hav< secured all the ..world over, there is surelj scope for expansion. Another possible industry of great potentiality m connec tion wool is the extraction of th< yoke, for the manufacture of lanoline which commands high values both as i lubricant for high-grade /maqhinery anc for toilet' purposes; New Zealand* musi .;bran*h',- ; outr m, these matters if it wanti to beconie permanently prosperous. Mosi important ( of dll,,"if our- national nrp^tio tiori is to increase^ is that a. vigorou! policy of land settlement shouid be pur. sued m tins ©omin^on ., Mi* Beauchani j gives the Government credit for doing excellent work' ini settling soldiers onjtht land, but says that something more should be. donei There is still a vast area of Native land' that is lying' more or less idle and ' unproductive. The State should deal with this land on the principle embodied 1 m the West Coasl .Settlement' Raserves Act, 1892. UiuKei that Atot, Native lands m Taranaki are leased m suitable areas to farmers, "bi terms equitable to both parties. The rentals ai"e collected! by the Publi< Triistee and distributed to the Natives. ,£h© Act has operated satisfactorily ir Taranaki, and could easily be made tc apply U> Native lands m other districts to ; the advanitage of the Native owners and the benefit of the people of NeVi Zealand.. The .heavy load of taxation that the country has to bear as the resuU pt the wav makes, it necessary that nt meansof increasing the earning-power oi the country, should be> neglected. The settlement of the vacant land's of the Do tminioritia-one of the principal njeans fry which that, earhing-power can.; vbo mosi readily and expeOitiously, inorea^ed.. The country - must tprodttce more, so that iit surplus for .export will expand, if we are to meet. our war burdens aatisfac torilyvand *; maintain the country's -propress' and prosperity. The Bank president then proceeds to strike a note : p\ ,wayning. Owing to the present „rejtiurterative. prices, of produce, due mainlj to the war, andj the Imperial commandeer, farmers are buying and selling improved lands atveiy Jii^h prices. With our main markets 12,000 miles away, >with new and formidable competitors m the field, .with. Europe impoverished through the war, \ and people educatec' to the -use of siibstitutes, such as margarine, it is hardly possible that oui dairy ,. products .can maintain their present./yattiesr, when^i;he; Imperial commandeer ends. , What then will be th« position of those who have paid higl prices for land: and burdened: themselvej with .heavy v'tnortgage charges? The valtu of farm must be determined by what can be got but of- it by a competent farmer. At present this is largely a matter of guesswork, and a farmer, witl ft biased mind vTnay easily persuade himself that he can obtain. "better resuwt who is selling. Whati* primarily required 4s a guide tp the real value "of land i& a more exact system oi farm book-beeping. No business cat be sucoesfully carried on a pro< per book-keeping system, and farming, being a business, is no exception to the rule. Altogether we maj' take it from the review that is given, the trade pros. pects x of New Zealand are bright. This country will be able to receive from title

world's markets highly retnuneratf^|?^ prices, for eveiything that it can ;pxodulp^' either m the 5 way of raw materials; or • manufactured.goods. Our people should bend ..all * their energies to ' increasing -' production,, jri order* *that the' '"heavy burdens "which the war has imposed may be met, and. so that the greet heritage that has been .given rus., m this rich. Dominion ■ may pe' developed and 'fen- \ joyed' by the whole .'community.. ParJia- , ment must be^urgedto'give facilities fop ♦ increased 1' production t>yv constructing roads, and. railways sis rapidly ai possible, ■by. opening-up wasjbe lands, by.promot- \ ing oloser settlement, and by. encourag- ;., f irig.and,fostering;by; everv.means'^wit'hin, . the power" of the State the development »■ of new-and the extension ofr>ojd ..jndus- 'tj tries. With such a policy steadily\pursued no one need doubt the future- of the Dominion.-. 'v • l v . ! . ! , . I i . . , , , , , -