THE DOMINION’S TRADE

Wanganui Chronicle, Volume LXXXIII, Issue 19766, 14 February 1927, Page 7

THE DOMINION’S TRADE

MORE PRODUCTION FACING NEW COMPETITION BRITAIN’S DECLINING SHARE OF IMPORTS ]By Telegraph—Per Press Assn.—Copyright.] LONDON, Feb. 11. Mr Beale, His Majesty’s Trade Commissioner at Wellington, reporting to I the Board of Trade on the economic iland commercial conditions in New Zealand says:— “Tho time seems to have arrived when the Dominion must face a greater competition in the products which have made her famous and prosperous, and have constituted her only substantial source of revenue. It will require a vigorous application of energy and. increased production to maintain the high standard of life common throughout the Dominion, which has been somewhat easily secured in the plast. “It is evident that the position is bcenergetically and intelligently met. There are happily many evidences of . the primary producers’ determination to increase production by more thorough | land more scientific methods, and to i raise the quality of their commodities. American Propaganda “Regarding imports, the share peer ed by the Ln-.• . t tvingdom has shown a small but steady decline. This disturbing feature appears to be attributable partly to the United Kingdom’s • omission to nay more attention to the ' change land style of the world’s demand for manufactured goods. There seems I little doubt that American films have 1 played a part in moulding public taste 'in many directions. I “The present general economic posi- ■ tion of the Dominion may be correctly 1 described as thoroughly sound. The ; State finances are showing satisfactory results and the banking position has been wisely handled. There is no I evidence of any excessive timidity in commercial circles. Efforts to stimulate land improve production are bearing [fruit. Any favourable movement in [price levels will not only maintain, b*dt will enhance the Dominion’s prosperity. Undoubtedly the effect of the temporary reaction has been the cause of some sections of the community taking too pessimistic a view, but the high credit the Dominion enjoys on the London money market bears evidence of the favourable regard in which New Zealand is held by the most expert and dispassionate critics.”