BRIGHTER TRADE OUTLOOK.

Taranaki Daily News, 13 October 1928, Page 12

BRIGHTER TRADE OUTLOOK.

The retiring president of the Associated Chambers of Commerce (Mr, D. J. McGowan) had an optimistic, message for his final address to that organisation in Wellington yesterday. The good, season just past and the economy in expenditure had, he said, vastly improved trading conditions throughout the Dominion. Although an increase in prices received for New Zealand prim-: ary products had helped to make the past season so good, it was also due to an actual increase in productivity, the figures showing that this was substan-’ tial in dairy produce, wool, hides and tallow. Frozen mutton increased by 36 per cent, and frozen lamb by 23.8. Despite this increase in exports the flocks of the Dominion were greater today than ever before. ‘More cheering still, the outlook for the present season was particularly bright. Production was showing a further increase, and for dairy produce, at all events, prices were satisfactory. The trade balance for the year ending last June was a record one, and trade statistics since June showed a sustained improvement, the visible trade balance for the eight months ended August 31 being £14,182,641, against £6,677,322 last year. Mr. McGowan added that banking statistics made good reading, and it seemed probable there was a period of sound prosperity ahead if the resources of the Dominion were husbanded and used wisely. As president of what is practically the commercial parliament, of the Dominion, the speaker was not likely to exaggerate th® picture lie drew of a New Zealand wiser and more wealthy than in the past few years. Mr. McGowan stressed the importance of improving industrial relationships between capital and labour, and hoped much from the conference that is to be held. Whether his optimism in this respect will be justified remains to be seen, but his remarks are of some importance as indicating that the employers are' entering the conference with the determination to arrive at a better understanding, if such be possible. Two things stand out plainly in. the address: New Zealand’s absolute dependence upon her primary industries, and her marvellous recuperative powers when once the need for additional effort is recognised and satisfied.