The Timaru Herald FRIDAY, MAY 4, 1928. SHOP IN THE EMPIRE.

Timaru Herald, Volume CXXV, Issue 17947, 4 May 1928, Page 8

The Timaru Herald FRIDAY, MAY 4, 1928. SHOP IN THE EMPIRE.

Although New Zealand has no reason to feel anything but gratification with ber trade relations with the Mother Country, particularly in relation to the demand for New Zealand products in the Homeland, tin fact remains that the most outstanding' features brought out in the latest issue of the Year Book are the growth of trade with the United States and Canada, and the decline of the Mother Country’s share of goods entering the Dominion. During the pre-war-years 1909-15, the United Kingdom supplied on an average 60.09 per cent, of New Zealand’s imports, a figure which had fallen as low as 49.98 in 1921, although considerable amelioration topic place in 1922 and 1923, in both of which years the percentage exceeded 55, subsequent years witnessing a decline, the percentage for 1926 being as low as 48.77. The contribution of the United States, however, to the Dominion’s imports has grown from an average pf 8.70 per cent, during 1909-13, to 19.50- per cent, in 1926. Obviously the key to Empire prosperity is the prosperity of its largest unit. The intricate economic system by wfiich 45,000,000 islanders of the United Kingdom live from day to day, has not been created by Governments, but. hasi been gradually built up by the visipn, initiative and courage of individual men. The necessity oi preserving and further developing this delicate organism of purchase and sale of services as well as goods, cannot be ignored in considering the problems associated with the development, of trade within the Empire. New Zealand is vitally interested in the prosperity of the Mother Country. The Year Book shows that the first exports from New Zealand went naturally to the earlier-developed sister colony, and for a considerable time Arts tralia. had a monopoly of New Zealand trade. In 1865, 70 per cent., and even in 1871, 44 per cent, pf the total exports went to Australia. But since the establishment c*s direct shipping lines with the United Kingdom, tire •Mother Land has absorbed the hulk of New Zealand exports, having taken during the forty years, 1875-1914, £365,880,997 (or almost exactly 80 per cent..) of the grand total of exports amounting to £469,347,969. This percentage, prior to the war, did not vary greatly from year to year, but there have naturally been considerable variations since 1914, and the last few years have witnessed a progressive decline. Nevertheless, the percent age _of the Dominion’s products which found it way to the United Kingdom in 1926 (77.53), though less than the pre-war share, furnishes emphatic evidence that the United Kingdom is still the best customer. It should' therefore be realised that , when a producer of food or raw materials sends anything to the British market, he, must look for payment, in the greater part at least, to _ the freights which British shipping earns on the high seas, to the profits derived from the sale of manufactured goods, as well as the interest which is paid on overseas British investments and the commissions of British bankers, merchants and brokers. It is thus quite obvious that all the peoples of the British Empire must become .increasingly coucemed for the success of the overseas activities of the people of the United Kingdom., the more Empire-produced goods aa'e sold in the United Kingdom. If then the people of the British Isles buy food and raw mate. ials from within the Empire family circle —and , they are New Zealand’s most consistent customers —is it riot obvious that overseas people, in their own interests must, if they desire to he paid (as, pf course, they will), “buy” British freights., instead of foreign freights, pay interest in British rather than foreign capital, and support British, industry by purchasing British goods. This course of action is prompted not only at the dictation pf good sentiment, but' it is good business. If, then, it is an axiom that “you cannot sell unless you buy, since trade is a matter of exchange,” the organisers of the Empire Shopping’ Week can base their appeal on business as well as sentiment. The initial meeting held yesterday, although not very largely attended, should uot deter the prompters, hut it is hoped that the illuminating address delivered by Mr Milner, which aroused such enthusiasm, will enthuse the people of this district and ensure the successful inauguration of a worthy movement which 1 aims at the promotion of trade within the Empire.