Editorial.

Clutha Leader, Volume III, Issue 151, 1 June 1877, Page 6

Editorial.

IMPORTS FOR THE QUARTER END- ■. JSG 3lst AIAItCH. It has been generally believed for some time past that the imports for the present j financial year would fall considerably short •of the imports during the preceding year. Anticipations on this point havo been fully realised. The heavy stocks, together with the diminished public expenditure, bave had the effect of inducing merchants to import considerably less during the present year than they have been doing of late years. Whilst we were quite prepared for a considerable falling-off in our imports, we were scarcely prepared for some of the results to which we purpose directing attention. There is a deficiency of L 370,152 in our imports for the quarter ending Slst March last, as compared with the corresponding quarter of the previous year. As tlie imports of a country are always taken as a test of its prosperity, we consider we are quite justified, owing to tho great deficiency in our imports, in drawing the ■conclusion that the country has not been so prosperous during the first quarter of the present year as it was during the first quarter of the previous year. Now, if the depression was general over the whole country, we should simply rest satisfied in expressing our deep regret, and in looking forward hopefully to better times. But when we see that the blow has not fallen on all places alike, we are bound to consider whether we cannot assign any reason for such an unexpected result. We find that at Dunedin there is a falling-off for the quarter of L 160,158. At Invercargill the falling-off is L 45,913. The falling-off at these two ports in Ota°-o .goes a long way to account for the fallhi"---off of L 370,000 on the entire Colony. At Auckland there is a falling-off of L' 122,003, and at Nelson a falling-off of L 53,978. Let us now turn for a moment to Wellington. Considering the deficiency at the •other principal ports, we should expect a very considerable deficiency at the port of "Wellington. The merchants of Wellington are surely not more enterprising than the merchants of Dunedin. Does the Province of Wellington exceed the Province of Otago in the number of its flocks and herds ? Is Wellington more agricultural than Otago ? It is well known that in none of these respects can Wellington be compared with Otago. We might reasonably, therefore, expect that there would be at least a proportionate falling-off in the imports of Wellington. Bufc this is not the case. Wellington has not only kept its ground, but actually increased its import trade. The imports into Wellington for the quarter ending 31st March, 1876, amounted to L 294,474. But the imports for the corresponding quarter of the present year amount to L 315,119, being an increase of L 20,645. We do not think that the reason of this exceptional prosperity in the case of Wellington is very far to seek. The old provincial capitals of the Colony have ceased to have the slightest political significance. All public business is now done from Wellington as a centre. Merchants are now seeing the desirability of having wholesale houses in a place having so many political advantages. The immense army of officials tbat is now congregating in the "Cook's Straits capital is also doubtless tending to increase the import trade of the place. Wellington is thriving at the expense of the other portions of the Colony. We can hardly pass over the case of Nelson without remark. Nelson was jubilant over the Abolition of the Provinces. Every Nelson member voted in favour of it. But Nelson, considering its size, seems io have suffered from Abolition fully as much as any other place. We have seen very bitter complaints coming from Nelson of late. We have not been able to ■understand why Nelson should complain -bo bitterly, but we are now beginning to ■understand it. Nelson, as is well known, did not as a Province go deeply into borTowing. Nelson therefore had every year a considerable sum to expend on roads and other public works. The source from which these roads and other works were made is now completely dried up. Poor Nelson, instead of partaking of the abundance of her neighbours, as she fondly thought she would do, now finds that she is stripped of her own peculiar revenues. The only other place besides Wellington where the excess of imports may be said to be of a marked character is Greymouth. The increase at this port for the quarter amounts to L 10 ,500. This, however, may be easily accounted for by the increased mining population in the interior districts of Greymouth. "We may just remark before we conclude that Canterbury is just about able to hold her own. The imports show a deficiency for the quarter as compared with the previous year of only LIO,OOO. We took occasion recently to show that Canterbury is going strongly into the production of grain, particularly wheat. Of course it is entirely owing to her efforts in this direction that Canterbury has been able to keep her imports pretty much up to the old mark. Considering the agricultural strides which Canterbury has been making of late years, we say that if there is one place more than another where we might fairly 'have expected an increase, it is Canterbury. At least it is a far more likely place to look for an increase than Wellington. Dunedin is at present unquestionably "Uxe commercial capital of the Colony.

I But if the business men of Dunedin do | not bestir themselves, Dunedin may not I always continue to enjoy this proud pre- | eminence. At all events, Wellington bids ! fair at present to become the commercial, j as it is the political, capital of the Colony.