The Dominion. WEDNESDAY, FEBRUARY 8, 1911. PROSPEROUS AUSTRALIA.

Dominion, Volume 4, Issue 1046, 8 February 1911, Page 4

The Dominion. WEDNESDAY, FEBRUARY 8, 1911. PROSPEROUS AUSTRALIA.

The pcriotl of prosperity enjoyed by tho Commonwealth is reflected in the trade returns for 1910 recently published. Australia has passed through singularly fortunate times. With bounteous harvests, heavy wool clips, and high prices ruling for most of her primary products, she, during the past year, broko all her provious records in the value of her exports, and her total trade also O-catcd a fresh record. When one considers that the population of the Commonwealth reaches less than 4i millions, while the trade returns for the past year attain-the enormous figure of nearly £m,000,000, somo idea of the prosperous conditions prevailing may be arrived at. ■ The total trade represents £30 ss. 2d. per head of population,' and it is necessary to go back 46 years in the his"tory -of, Australia to discover an ocinally high return per head of population. Moreover, the.: - result achioved on the occasion referred to was largely due to the heavy export of grid, whereas during tho, past year the export of gold was less than 5 millioDa—the smallest amount 011 record f-jr many years. New Zealand is probably the only other country in j tho world which, relatively to its population, has so large a volume of otadc. In 1900 (tho figures for 1910 are not availablo) the total trade of the Dominion amounted to £35,330,715, or, excluding Maoris, equal to £35 9s. Id. per head of population: England, including re-exports, has a total trado considerably under £30 per head of population. Tho ,Commonwealth figures arc mado up of exports ' £74,497,027, and ■ imports £59,453,238, th< balance in favour of exports, it will be scon, being over £15,000,000. Compared with the preceding year, tho exports show an increase of a littlo over £9,000,000, while tho imports increased by over £3,000,000.

To better understand ivhat these enormous increases 'mean to Australia at the prcsont timdi, the following showing the fluctuations in the oversea trado from 1809 to 1010, will, bo both useful and interesting:—

Small wonder is it, in the fiicc of these figures, that our friends across the Tasman Sea should bo congratulating themselves. It is open to doubt whether the current year willshow anything liko the marked increase recorded in 1010. Tho Sydney Bnihj Telef/rapli, in discussing this aspect of the situation, points out that,while, owing to the genorally flourishing condition of things, the volume of imports is likely • to be maintained, the position in regard to the exports is very different. The growth of £9,1(0,000 last year was largely due to a record wool clip and a record harvest, both disposed of at high r.riccs. The present wheat barvest, just about completed, is, at any rate, not greater than that of twelve months ago, and the current price is lower. The wool clip has been a good one, and there is a probability of a better one next spring, but' there again priccs have receded, and doubts are expressed as to whether I the exports of Hie country's greatest staple will exceed the striking total of £28,770,0C0 reached last year. This figure was unprecedented. Summing up, tho Telegraph concludes as follows:—

Probably we shall ship more gold as llio voasoti advances; a-; it is difficult to sea what we „hall do with it otherwise, but it f.'iii-hardly bo said I hit (lie prospects for the current year are for niiy material advanci) in our total exports upon those of the year just closed, r However,' if that rtcord total ran op maintained wo shqll do well, for the exports of nearly ,£l7 per head last year were far in escess of tho average. which in Hie previous ten years was only Xl 4 ss. per head. That we shall in the future distance tho records of the past year is probable enough. But w> need more railways, more shipping facilities, ■ more primary producers, and t.liec are not yet increasing as thev »mht tfi do. There is a bif! capital -expenditure involved, and just' now it looks as though British capital will be driven out of Australia.

Our readers will recognisc that New Zealand is in very raiieli the , same position as Australia in a, good many respects. More primary producers arc needed here, and mare British capital, too, for the matter of that. So far ax the capital is concerned, however, L'<J most pressing need is that the confidence _of those with money to invest in industrial enterprises should ho restored. There is plenty of room for improvement in the Dominion in this .respect, just now.

Your. Imports. Kxports.'Totnl ti-htlo. W. 31;329,637 48.599,033 • -82.928,720 1900 41,388.030 45,956,882 87,.'114,812 1901 12,-131.0)1 -10,090,172 92,130,183 1002 -10,675,9.1(1 43,915,087 .81,591,037 ?90;t ' ...... .17,811,471 4$,250,112 . 80,061,583 1901 ...... 37,020,812 57,485,915 94,500,757 1005 . 38,346,731 50,841,035 35,187,706 1900' 44,744,912 63,737,763 114,183,675 •1007 ....... 51,809,033 72,821,247 124.633,280 1908' -19,793,273 04,311,058 114,110.331 1909 ...... 51,171,806 05,318,836 110,490,732 1910 59,1.50,2:58 74,497,627 133,953,863