Dominion’s Economy

Poverty Bay Herald, Volume LXV, Issue 19732, 10 September 1938, Page 20

Dominion’s Economy

Sir, —Anyone who presumes to teach economics, even through the correspondence columns of the press, should at least make sure of his facts. “Honi Soit” tells us that it should be common knowledge that of our principal primary products only 10 per cent is consumed locally; the rest is exported. Unfortunately, the facts are against him. According to tne Official Year Book, the percentages of farming income derived from exports and local sales during the years 1932 to 1934 were as follows:—“Agi'icultural produce, 10 per cent export, 90 per cent local; pastoral produce, 81 per cen. export, 19 per cent local; dairy, poultry, bees, 70 per cent export, 30 per cent, local; all farm produce, 6G percent. export, 34 per cent, local." We find that during these years agricultural product.on was valued at £50,800,000, but factory production was valued at £71,000,000, whilst coal to the value of nearly £4,000,000 was nearly all sold locally. So it would appear that, after all, New Zealand is New Zealand’s best customer. —Yours, etc., C.P.H. Hexton.