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It will be noticed that there is a largo decrease in the number of labourers calling at the office of the Commissioner during the last quarter compared with the previous quarters of the year. This is accounted for in the following manner : (1) Coolies for medical examination now report direct to the Crown Estates hospital, and are not recorded in this department except under special circumstances ; (2) practically all the unemployed have either been repatriated or have secured employment. BOARD OF TRADE. As a result of the abnormal trade conditions of 1920 suspicion and considerable ill-feeling was engendered between the Samoan people and the traders, leading to the institution by the Samoans of a boycott. The boycott was carried out with vigour, and resulted in considerable losses to the mercantile community. A Cost-of-living Commission was set up to investigate the position, and one of the recommendations made by the Commission in its finding was the formation of a Board of Trade to deal with complaints of exploitation and overcharging. As a result the Samoan Board of Trade Order was passed by Order in Council, and the Board of Trade came into being in June last. The Board consists of a Chairman nominated by the Administrator, a member elected by the Apia Chamber of Commerce, and a representative of the Native race nominated by the Faipules. Functions and General Policy. The functions and general policy of the Board are, briefly, as follows: (a) Investigation of industries, the making of regulations as to their control and maintenance, the suppression of victimization, unfair competition, overcharging, &c. ; (b) the assembling and publishing of data and statistics of value to commerce, industry, and planting ; (c) the encouragement of industry, the revival of neglected industries, and the promotion of new where practicable. While taking steps to combat exploitation, the Board has endeavoured to avoid becoming too preoccupied with the many " trader grievances " indicated in (a) above, but to deal with these in some proportion to the progress achieved in those functions included in (b) and (c). In this way it is hoped to secure a constructive policy, and enlist the interest, confidence, and co-operation of the whole community. Copra. Much time and thought has been devoted to a thorough investigation of the copra industry, which is the very life-blood of Samoa's commerce. It is essential that the producer should receive as fair a price as the market permits if output is to be increased and industry and prosperity built up. With the data collected in the course of its investigations the Board hopes that, it may succeed in the not-distant future in having copra placed beyond the possibility of exploitation, in the same manner as primary products are sometimes placed in other countries, such as butter and cheese in New Zealand, for instance. Cocoa. The plight of the European cocoa-planters in July, 1922, was extreme. Not only had the quality of Samoan cocoa fallen, but the financial condition and the unorganized state of the cocoa-; planters was forcing them to sell at any price they could get. The price in July, and for some months prior, ranged from £35 to £45 per ton- a price much below the cost of production. Proposals from the Board of Trade whereby a price per ton was guaranteed of £50 for unwashed and £55 for washed cocoa, and in addition the planter was given a bonus of £2 a ton for all cocoa that passed a quality test, were agreed to by the Administration. As a result the local price for cocoa immediately rose by from £15 to £20 a ton. This increased price, if not yet really profitable, enables the planter to carry on. It can therefore be claimed that the action of the Board of Trade has for the present saved the independent planters from bankruptcy, and, by encouraging improved quality in cocoa by offering a bonus for beans up to a specified standard, is restoring the standing of Samoan cocoa-beans to that of some of the foremost in the world. Agricultural and Industrial Show. With a view to encouraging Samoan arts and crafts and industries, and ascertaining exactly what these are and what are of commercial value, the Board of Trade has organized an agricultural and industrial show, which is to be held in June, 1923. The Samoans have entered into the project enthusiastically, and it is anticipated that from six to eight thousand exhibits will be housed. The show will result in a considerable temporary addition to the population of Apia, and should provide a great stimulus to business, and will be. of great educational value by providing an opportunity of ascertaining the possibilities of various industries and branches of agriculture. Balance of Trade. Prior to 1919 the value of the exports for the Territory balanced the value of the imports. From the beginning of 1919, however, the relation between the exports and the imports became upset, as also occurred in other countries than Samoa during the post war period. It is gratifying to record that trade in Samoa has already recovered its equilibrium, as will be seen from the following figures : — Imports. Exportw. £ £ L 919 .. .. .. .. .. .. 291,368 532,500 1920 .. .. .. .. .. .. 561,153 386,587 1921 .. .. .. .. .. .. 408,892 241,539 1922 .. .. .. .. .. .. 282,939 365,610 March quarter, 1923 .. .. .. .. 54,113 115,505 £1,598,465 £1,641,741 The price of copra is good, and business is reviving on a, solid foundation.

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