Wairarapa Daily Times [Established Third of a Century.] WEDNESDAY, MAY 16, 1906. THE TRADE OF JAPAN.

Wairarapa Daily Times, Volume XXX, Issue 8451, 16 May 1906, Page 4

Wairarapa Daily Times [Established Third of a Century.] WEDNESDAY, MAY 16, 1906. THE TRADE OF JAPAN.

The Secretary lo the Britannic Embassy in Japan has recently issued an interesting report on the trade of that country, from which it appears that that the commercial activity of Jap im has been but little affected injuriously by the war—the bulk of the war funds having been spent at Home. Of course, the section of most importance is that which deals with the foreign trade. The figures quoted by Mr Barclay (for the correctness of which he officially vouches) are highly instructive. For instance, the value of machinery imported into Japan is distributed, and from the table supplied we find that whereas in the year 1901 the United Kingdom supplied £659,000 worth, the United States of America £288,000, and Germany £187,000, in 1901 the relative figures changed materially to United Kingdom £492,000, United States £371,000, Germany £115,000. Thus it appears that while Great Britain is receding in this matter, the United States are advancing. Mr Barclay points out what he believes to be one of the chief causes of this unwelcome state of affairs, viz., that the buyer of American goods is better able to calculate actual costs than he who deals with British firms. The iTankee salesman quotes a definite price, covering every expense from the factory to the port of destination, and allowing for discounts, while the British manufacturer will not quote discounts, or supply full figures as to costs. Thus there is an element of uncertainty about the transaction, and Japanese buyers are favouring the American makers. Equally alarming is the steady advance of the German shipping interest, which is treading on the heels of the British. The N.G.L. line have a service between Australia, New Guinea and Japan. Altogether Mr * Barclay's report is anything but reassuring, and we may hope that it will receive the immediate attention of thoso whom it concerns.

The annual report of the Trust Lands Trust, circulated through our last issue, is a little more concise than we would like to see it. While it discloses an annual revenue of £1193 Is 6d, and reveals an annual expenditure of £611 Os lOd (grants £251 Os lOd and reduction of overdraft £360), it keeps us in a -state of anxious suspense regarding the difference between the stated revenue and the alleged expenditure, a difference amounting to £581 Os Bd, or nearly one-half of the revenue. We do not for one moment doubt that this sum has been duly and properly expended in every particular, including even the odd eightpence; but why, when the Trust was taking the public into its confidence, did it not say how this large slice of its funds had been distributed ? The people, very wrongly, take a somewhat, languid interest in the Trust finances, and very rightly repose every confidence in its representatives on that body. Did the astute Chairman,. we wonder, purposely leave

a blank in the report,, in order to stimulate -hatinterestinits manifesto which'everybody knows he likes to see displayed ? Of course, it is unusual for an official report to resemble a missing word competition ; but if it start's people guessing, it will not be without some good efiect. The annual report, also, somewhat resembles the play of Hamlet wi.h the leading character of the Prince of Denmark left out. It is well known that the Chairman, Mr Daniell, has at heart a project for the development of certain Trust reserves, and for the improvement of the town. We may say that this project has our hearty support; but, because the report is colourless with respect to this, it is not a necessary sequence that the annual meeting should ignore it. We believe that the annual gathering, this evening, will be of exceptional interest on this very question of development an.4. progress. The future of the Trust, and to a certain extent of the town, largely depends upon this project, and we trust to see it intelligently discussed at the annual gather-