Te Aroha And Ohinemuri News WEDNESDAY, NOV., 10, 1915 TRADE IN WAR TIME

Te Aroha News, Volume XXXIII, Issue 15695, 10 November 1915, Page 2

Te Aroha And Ohinemuri News

WEDNESDAY, NOV., 10, 1915 TRADE IN WAR TIME

Published - Monday, Wednesday, and Friday Evenings.

The quarterly banking returns recently issued are interesting inasmuch as trading is being done in what are certainly abnormal times. When the war broke out fifteen months ago many were the grave prophecies relative to how badly might the colonies fare under the altered conditions of trading. Naturally fears were expressed that the trade routes might not be safe for our exports, and later on there was a decided shortage in regard to ships to convey New Zealand’s produce to England’s stores. The latter drawback was overcome in due course, and thanks to the energetic work of the Massey Government arrangements were concluded for quite a sufficiency of shipping accommodation for at least the greater part of this season. Th : s is a'matter tor sincere congratulation for apart from the fact of our products being fnuch required for the British and the Allies, New Zealand cannot prosper without the returns from the exports. The chief feature in the bank returns is the excess of .£5,806, 023 fixed and free deposits combined over advances and discounts. This shows that while export trade has increased'not only in quantity, but also very materially in the values of the produce, the import trade has decreased. For years past financial journals have advocated the desirability of observing more cautious methods regarding imports, and it would seem that the war has forced the positions upon the country which will tend to its advantage. The, difficulty in importing many lines is on account of the inability in obtaining them in the Home markets, while of course there has been a certain degree of caution on the part of mer-

chants in relation to their import trade consequent upon the doubt as to the effect of the war on trade generally. Although it cannot be expected that abnormally high prices wiil rule for our exports/this season, the rates will be sufficiently remunerative to guarantee a Very prosperous season’s trading. The next quarterly banking returns should show continued satisfactory results, which will still further tend to place New Zealand in a strong financial position.