The Ashburton Guardian. Magna Est Veritas et Prævalebit. SATURDAY, MAY 22,1886. OUR COMMERCIAL POSITION.

Ashburton Guardian, Volume V, Issue 1424, 22 May 1886, Page 2

The Ashburton Guardian. Magna Est Veritas et Prævalebit. SATURDAY, MAY 22,1886. OUR COMMERCIAL POSITION.

Tiik address delivered by Mr G. (r Stead, at the quarterly meeting of the Chamber of Commerce on Thursday, was oi a particularly interesting and instructive character. Mr Stead very appropriately prefaced his address—the first delivered in the Chamber’s now offices—by a cursory review of the progress made by the institution since its foundation twenty-seven years ago. It is unnecessary to remind those of our readers who have watched the commercial development of this part of the colony, of the varied and useful work effected by the Chamber ; the executive officers of the institution have given diligent and intelligent attention to every important matter concerning the commercial and agricultural welfare of the country, and on more than one occasion they have succeeded in efleeting trade reforms and legislative modifications of a very important and useful nature, 'i he fact that the Chamber has resolutely excluded politics, that is, the discussion of political parties and men, from its deliberations, has added very much toils influence and utility. Had the Chamber wavered for one moment in its determination to preserve its reputation as a non-political representative of diversified and combined commercial interests, it would have descended to the level of some of its contemporaries in other parts of the colony. The members have vigilantly watched the Government’s dealings with the Customs and railway tariffs, have made suggestions—which have frequently been adopted in whole or in part —with regard to measures affecting trading, shipping, bankruptcy, aud other commercial interests, but lias never contracted its sphere of usefulness by assuming a party or selfishly local attitude towards the legislative proposals of any Ministry or individual. It is gratifying to learn that an authority entitled to so much respect as Mr Stead, is satisfied that we are gradually emerging from the mantle of depression which has so long enshrouded the commercial world. The whole of the address is couched in temperate, but distinctly hopeful language, and Mr Stead quotes voluminous figures in support of the faith by which he is inspired. Taken side by side with an article upon the appreciation of gold and the existing depression, which we published in our last issue, some facts in connection with the metallic currency of the world are of especial interest. Many writers declare that the apprecia tion, 1.e., the increased value, of gold is the chief cause of the nresent wave of depression.” According to reliable authorities the gold production of the world since 1871 lias been as follows ;

As the loss by wear and tear, shipwreck and fire, is only about 4 per cent, in a hundred years, it is evident that the stock of gold coin is steadily increasing. The increase during the last forty years amounts to nearly £600,000,000, ami it is diflicult to believe that the increase in

the volume of trade during the same period, immense as it undoubtedly is, has absorbed this enormous addition to the world’s stock of gold. Mr Stead, we believe, has advanced a much more feasible theory to account for the prevalent depression, “It seems probable,” he says, “that the gradual cessation of the expenditure of large public loans has contributed to it. From 1870 to 1880 enormous sums of money were borrowed for the purpose of constructing railways in almost every portion of the globe. During that period over 40,000 miles were constructed in Europe, and 41,000 in the United states, while the world’s total railway mileage was increased by 102,004 miles, at an expenditure of £2,001,000,000. It is needless to say ihat this enormous expenditure, created immense activity in the coal and iro t districts, and all products and manufactures in turn felt the influence of the golden era. The result was an immense extension of most manufactures. New mills and new factories with the most perfect machinery were erected, and every branch of commerce appeared to be prospering while the expenditure con- ' tinned. But the high pressure could not \ last for ever, and, when the various < countries commenced to case off, the 1 inevitable reaction sot in, The public j everywhere then began to realise that j land and almost all articles of commerce £ had acquired an inflated value. As a natural consequence, » general fall in fi

allies commenced, culminating in a panic, from which the world has not yet recovered.'’ There can he little doubt

that the difficulties of the labor question and the serious nature of agrarian disputes have very much disturbed the even current of trade, and aggravated commercial perplexities. The development of new enterprises has been retarded, and “ strikes” and “ lock-outs” ami

boycotting” have produced individual, 1 national, and universal losses. Mr Stead is unable to take a very cheerful view of 1 the prospects of the wool market, and, I much as we may desire to find grounds I for dissent, we arc compelled to agree I with his carefully-weighed conclusions. 1 It is certain that the world’s price-level I for this commodity is permanently I lowered, and any considerable, expansion can only be of a spasmodic or temporary nature. The frozen meat trade, however, presents brighter prospects. Prices have materially improved, and New Zealand mutton generally, and Canterbury shipments in particu'ar, arc steadily, but surely, growing into favor with the British public. That this colony more than holds its own in the competition in this trade with the River Plate Republic and Australia is abundantly shown by the following figures, representing the imports of frozen mutton into London during the years IBBd, 1881, and 1885 • Carcases. Tons. Australia .. 270,521) 7,305 Now Zealand 1,025,551 20,775 llivcr Plate .. 310,550 7,172 Total .. 1,002,500 41,310

The figures in connection with our cereal production arc hardly so encouraging ; indeed, the complete returns show that the decrease in our own locality is only a part of a lamentable falling-oil' throughout the provincial district. The following is a summary of the cereal production of Canterbury during the past live years ; Wheat. Oats,

Acres. Bushels. Acres. Bushels. TBBC. . . 110,528 2,1473,382 122,810 3,211,003 1885 .. 182,500 1,150,077 120,132 1,157,700 1881 .. 210,315 0,117,223 100,721 3,320,301 1883 .. 210,155 0.350,702 130,117 4,085,305 1882 .. 237,015 5,228,881 102,352 2,540,501

There are many other points in Mr Stead’s interesting address to which we would like to refer, but the limits of the space at our disposal compel us to bring

our remarks to a conclusion. The exhaustive review of our commercial position and prospects, and the valuable statistical information supplied by Mi Stead thoroughly deserved the appreciative reception they received at the hands

of the members of the Chamber of Commerce on Thursday «l’tcriioon, ami we trust that the hopeful view of the future, adopted by the President of the institution, may be entirely and speedily realised.

There arc one hundred and one hospitals in London, in which one and a quarter millions of people are relieved, and which dispense outdoor relief to four millions annually. Tho Connecticut Senate has passed a Bill for the compulsory teaching in the public schools of the evil effects of alcohol and tobacco.

Mr Stratford, E.M. at Wellington, seems, from the newspaper reports of his goings on, a moat pecular individual on the Bench. IBs latest freak was to order a Chinaman who appeared before him to let down the tail he had coiled round his head ! What on earth this was for, tho li.M. probably only knows, but wo may expect next to hear of his ordering the alteration of tho hirsute adornments of tho females who appear in

Court, or complaining of the pattern of the nether garments of some guilty individual up before him. On Thursday evening at the Hinds an engine and combine belonging to Mr Bobert Meaclam were destroyed by fire. Tho property was insured.

The second meeting of tho Ashburton Coursing Club Jwill bo held on Wednesday night. Nominations close at the Central Hotel on Monday evening at 8 o’clock. At tho Ilesidont Magistrate’s Court this morning (before Mr 1). Thomas, J.l’., and Mr E. Alcorn, J.P.), James Simpson, for using obscene language in a public place, was ordered to be imprisoned for 18 hours with hard labour.

At a meeting of the Canterbury Land Board on Thursday a perpetual lease of part reserve ITti'.l, containing d acres 3 roods and dtl

perches, situated at Chertsey, was granted to William Dunstan.

1H71 to 1680, an’l avor. or, £ 5,513,353, or 22,010,112 1881 1882 year 5,201,170, or 20,810,701 year 1,010,212, or 10,700,008 1883 year 1,828,807, or 10,312,108 1881 year 1,883,750, or 10,535,000