WELLINGTON NOTES.

Waikato Argus, Volume II, Issue 112, 27 March 1897, Page 3

WELLINGTON NOTES.

—♦ — [KEOJI OUK OWN CORRESPONDENT]. Wellington, March IS. THE TRADE OF THE COLONY. Mh S. Carroll's monthly Trade Review published to-day is, as umal, full of information regarding our commercial piogress. Tho editor is remarkable for his clear method of marshalling figures in a way which places stat'slim which in general are. so nopalntible as to be skipped o\ er or passed by. In the cur rent issue he takes for his text that part of the report of the Wellington Chamber of Commerce, which regrets the absence of expansion in the report of New Zealand, and he makes a careful analysis of the official figur- rs, and sho*s that while the produce of our (locks and herds and the yields of gold have increased in volume, there has been no apprec.able growth in minor products either by the introduction of new industries or the expansion of those which have been established. The returns also show that there has been a lamentable falling off in the yields of agriculture and (lax mills creating a deareose in our experts which bring down the balance of trade in outfavour fully a million sterling in the last five years. Mr Carroll prefers to take the SO' h September as the most reliable date for closing the commercial year with. December 31st is not reliable, because an early wool season one year and a late one another gives misleading data to draw conclusions from. Taking the export of New Zealand produce for seven ye>rs the values ha\e been as fol ows :—IBB9-90, £9,641.023 ; 1890-1, £9,622,905 ; IS9I-i>, £9,152,897 : 1*92-3, £9,000.2(18 ; 1893-4, £8,710.963 ; 1894-5, £8,557,069 ; 1895-6, £9,205.659. Our chief exports more than kept up their values, but the minor products fell off, as shewn thus :—IBS9-90 : Wool acd sheepskins, £4,328,051 ; frozen meat, £1,045,571); gold, £509,260 ; other produce, £3,455,145. 1895-6: Wool and sheepskins, £4,536,360 ; frozen meat, £1,279,160; gold, £1,137,969; otherproduce, £2,252,163. Here we see apart from the first three items a decline of £1,205,982. Grain and flax are the chief factors in this shrinkage as follows :—IBB9-90 : Grain, £1,156,795 ; hemp, £452,602 ; other produce, £l,-48,748. 1895-96 : Grain, £374,009 ; hemp, £33,507 ; other produce, £1,844,647. And deducting our other two chief lines of produce we get the following result:—lßß9-90 : Kauri num. £324.796; butter and cheese, £221,223; other produce, £1,302,729. 1895-96 : Kauri gum, £433 595 ; butter and cheese, £377,782 ; other produce, £1,033,270. These figures tell in a very disappointing way that our trade, whether considered as a whole, or apart from any or all of the more important items, is not only not making progress, but actually not doing so well as seven years ago, before the present Government came in with predictions of profitable employment and good times for everybody. The compiler, who studiously refrains from anything savouring of politics, sums up the position thus : " We are not pessimists', but there is no wisdom iu blinking facts, and it is only richt to draw attention to the position. What is the reason of this retrogression ? If sheep and grain are not so profitable as of yore, how is it that new industries are not taken up by settlers? The enterprise to pursue new lines of industry seems to be wanting." The editor docs not pursue this line of thought further aud enquire whyjtbat lever of commerce —enterprise—is wanting, but the answer is writ large in the interference, worry and taxation every going concern in the colony is subject to, by pestiferous labour Acts and the terrorising ot capitalists in whatever way they may endeavour to find a means of investing money iu manufacturing, mining, shipping, or any other labour employing business. The net result is shown iu the fact that our excess of exports over imports has fallen off during the regime of sham-Liberalism as follows : —IBS990: Excess of experts, £3,955.714. 1895 96 : Excess of exports. £2,001,174 ; Liberal shrinkage, £1,354,540. And in the face of this huge gap our bragging Premier roams from social to banquet tiling of how his Government bas added eleven millions sterling to the wealth of the colouy, and improved the condition of the working men they love so well. • NATIONAL WEALTH. The wealth of a country is not the estimate of value put on it by Government officials for taxing purposes, but the quantity of wealth produced each year—products that are used or sold and so disappear to be replaced by more wealth again and again. Wealth has been very properly defined to consist of every commodity which has an exchange value, and it has been the habit of agitators to hold up the owners of wealth as enemies'of society, whereas the truth is that too much importance cannot be attributed to the fact that those who save and acquite wealth, rather than those who spend it, are the best friends of the workers. Wealth may be wasted in many ways —in unproductive mines, in industrial enterprises which have proved unprofitable, through inferior machinery, etc. ; but it is t'-e profit arising from capital which provides the fund which pays labour, and the more restrictions that are put on this powor of capital the (ess the wages fund becomes, with the inevitable result that less labour is employed or the same number of labourers hare to accept less pay. No legislation can alter this immutable and simple law, and as our excess of exports is over a million less than seven years a(>o, it follows that the wages fund is reduced by that amount, except for what is expended out of borrowed money, which is the reverse of wealth, for it compels the country to work harder to pay the interest. It must be remembered with respect to loans that a States' promise to pay isa people's promise to work, anil the platform spouting about hicher wages and shorter hours is {he shadow of carpet baggers, who know better but are not honest enough to tell the truth. THE POLITICAL SITUATION. Parliament is further prorogued till April 2nd. Wkat such a proceeding means no one can say, but it indicates very clearly that Ministers don't know where they are. It is said they are not, or rather the Premier is not, suie whether there will be a short session, or whether he will go Home at all. Among ether reports, and there are all sorts of rumours current, it is said that if a short session is held Mr Ward will be made Treasurer as soon as members are dismissed. It would hardly be safe to proc'aim him as the colony's pursebearer before. Just now there is a doubt of bis being able to buy his own debt from the Colonial Bank. The Government organ is very vicious just now, and although Capt. Russell and others have shown every inclination to be as complaisant to Mr Seddon as is consistent with their duty to the colony, the Pre inter through his organ fires off such stuff as this, " If the Premier does not go Home it will be entirely owing to the conduct cf .the Opposition as a patty. Wc repeat with emphasis that for him to make any compact with the Opposition, as head of the Government, as the price of his visit to England would be undignified. The opponents of the Government have not the faintest shadow of right to impose any conditions." This mock thunder is very heroic. All that has been suggested is that instead of granting supply that the Public Revenues Act should be. extended for one or two months and so provide money to carry on with until a working se.=s T on is held in August. The Premier talks of " My Government," as if hi:; desics alone ruled. The Government is not his, it is the sovereign peoples', and their representatives' du*y in the liist ylace ia to exorcise a watchful core

over the people's money. No one has the slightest desire to prev. nt his going. New Zealand will continue to grow grass, freeze mutton, and collect customs duties without him as well as with him. It may be tint among his rmiarkablo collection of o'lcagues there is i ot one who could load til" lloAS'i and keep the Party to. ether. That is hi> fait ' t f»r associating himself with stub eminent Cabinet Minsters as Messrs Hall Jones and Thompson. No doubt he would like Mr Ward, but as his own paper said this morning "In a few day. it will bo i-ottlod whether Mr Ward's offer to the liquidators is to bo accepted, or whether he wi'l go through the Bunkrnp'cy Court." Piobahly the latter will be the result, and then the fortnight's prorogation will have bctU of no avail. The general feeling in Wellington about things in general may he judged from the following conundrum which is going the rounds. " What is tho difference between the Premier and a bad oyster ?'' One is Dick Seddon and the oilier a sick dcad'un.