Taranaki Herald. MONDAY, SEPTEMBER 20, 1909. A BRIGHT OUTLOOK.

Taranaki Herald, Volume LV, Issue 14014, 20 September 1909, Page 2

Taranaki Herald. MONDAY, SEPTEMBER 20, 1909. A BRIGHT OUTLOOK.

Although the effects of depression are still being felt, there are good indications that as the summer advances New Zealand will once more be enjoying a full tide of prosperity. From all parts of the dominion come reports of good prospects; in the south an unusually large area of land is being prepared for wheat-growing; from nearly all pastoral districts the lambing reports are favourable ; the new dairying season has opened unusually well ; the goldmining industry shows good signs of greater activity and better results; the saw millers, who were crying out a few weeks ago, are now engaging full staffs for their mills in anticipation of a busy summer; indeed there is scarcely a single industry of any importance which does not promise to furnish increased products this year. Even the flax industry shows signs of revival. Of course, something more than a large output is required; wo want good prices as well, and upon the whole the prospects in this direction are favourable. Wool, which is far the largest item of export, has already recovered from last year's | slump, and although the high prices of two years ago have not beeu and may not be reached, there is every probability of a further improvement and a good hardening market when the coming clip is ready for shipment. The Antwerp sales last week exhibited a very firm tone— a good augury for the London sales about to commence — while the quantity to be offered at the latter sales is very limited and there is not likely to be any carry-over to depress the market when new Australian wools are offered a little later on. The marked trade revival in the United States will have a beneficial effect, causing American buyers to operate freely, and the latest reports from the States indicate a much healthier tone all round. A large Npw York firm, , writing on August 6, warned its Sydney agents that owing to the very general revival of business; 'anct the consequent placing of&largtf orders with manufacturers, in all probability the various manufacturers will very shortly be full up and deliveries will become retarded. In Great Britain, also, every month shows an improvement on the corresponding month of last year in the volume of trade done, and that also must have a good effect on the markets for our staple products. In Australia an exceptional season is expected, and Australian prosperity will help our own along. The prices for frozen mutton and lamb are slowly recovering at Home, and. by the time the new season here is in fall swing there is every reason to hope a normal level will have been reached. Butter and cheese, though not attracting the keen bidding of last year, are still " good goods," and the state of the market in London at the moment gives rise to the hope that, butter at any rate will command a better retail market this year than last. A factor of very great importance to be considered in •forecasting the future of our primary industries is the growing population of the United States of America. Fpr many years that country l|as been $o a large extent the granary pf Europe, and. it hus also exported enormotia quantities of beef and pork. But with some ninety millions of her own people to feed,, and the virgin soils becoming exhausted, the exportable surplus is yearly growing less, and it will not be long before she will be an importing instead of an exporting country for foodstuffs. That, however, will not affect t*?e immediate outlpijk, which is sufficiently bright miax as most of New Zealand's staple products are concerned.