JULY TRADE RETURNS

Taranaki Daily News, 13 September 1926, Page 6

JULY TRADE RETURNS

It is difficult to judge from the July trade returns, which have only recently been published, what the trend of the Dominion's commerce was for that period. Imports show a decrease of .£848,000 as compared with July, 1025, and exports an increase of £1,359,000, leaving a balance in favour of the latter of £40,908, as against the excess of imports in July, 1925, of £2,248,000. On the face of it flic figures would seem to indicate that even the luxuriously minded in this country are assimilating the lesson that they must needs think a little less of their likes and more of the virtue of economy. On analysis s however, it will be seen that while imports from the. United Kingdom declined by £639,000 and from the rest of the Empire by £283,000, imports from foreign countries increased by £73,000, those from America indeed showing an increase of £146,000. It may be therefore that the diminution in imports from Great Britain is as mucih due to delays in the completion of orders, owing to conditions existing there, as to voluntary curtailment of such orders by New Zealand merchants. At all events so far as it goes ths trade balance for July is on the right side, and with the indications that the output of the dairy industry will be greater, while wool appears to be maintaining its value, there is no need for- pessimism. At the same time it is being made dearer each week that our primary producers must recognise that the era of high prices in London is over. With all allowance for that, this country has so many physical advantages over her competitors that there ie no need to be daunted. The way to meet the lower prices lies in increased production. !Fortunately there are already indications that this is being accepted and acted, upon by producers right through the Dominion.