The Waipawa Mail. Published Tuesdays, Thursdays, and Saturdays. Saturday, November 16, 1901. BALANCE OF TRADE.

Waipawa Mail, Volume XXIV, Issue 4279, 16 November 1901, Page 2

The Waipawa Mail. Published Tuesdays, Thursdays , and Saturdays. Saturday, November 16, 1901. BALANCE OF TRADE.

The returns of the import and export trade of New Zealand which are re viewed in the current issue of the New Zealand Trade Review, have one very grave aspect, namely, that while exports are diminishing in volume of value, imports are experiencing a sensational expansion. The latter feature, says the Review, has its satisfactory side from the Colonial

Treasurer’s point of view, in that it tends to the increase of the colony’s revenue by means, of customs duties. If, however, we come to a position where the imports equal or exceed the exports in total value, the margin disappears upon which we should rely to meet our periodical interest obligations abroad, and that is what is now happening. The total exports for the latest twelve months are declared at £12,754,621. The general opinion among experts, however, is that the realisation of last year’s wool will come short of the declared values at time of shipment by at least lid per lb., or between £850,000 and £900,000. The declared total value must therefore, for effective comparison be reduced by about this amount, thus diminishing it to, say, £11,900,000. The total value of imports on the other hand is given as £11,925,000, so that there is abso lutely no surplus by means of *which to pay interest debts. Although it is evident that the spending power of the community is at present exceedingly good, there are indications that the present rate of importation is excessive, and there are also Warnings that the spending power of a section of the community will suffer serious curtailment in the near future. When our wool-growers get an advance on their clip at not more than 3d per lb., from which a reclamation on last season’s wool has to be deducted, the amount left to spend in any direction will be mighty small. The effect of this will be felt in trade and labour circles, and will be only partially counterbalanced by the activity of the dairy trade and the prosperity of those connected with it.