OUR COMMERCIAL POSITION

Dominion, Volume 6, Issue 1671, 11 February 1913, Page 4

OUR COMMERCIAL POSITION

AN ENGLISH CRITICISM; The London "Economist" of Decembfr 28 has an interesting noto on tho comrneri'.cial position of New Zealand. We quote in {qUi— ' Our New Zealand correspondent furnishes so mo figures from' what' may bo called tho commercial balance-sheet of New Zealand for tho twelve months ending September SO last, which are now available:— ' ' Value of Exports for Tears Ending . 1 September SO. 1908-9. 1909-10. 1910-11, 1911-12. £ £ £ £ 18,953,601 21,908,051 19,967,273 20,702,155 This shows that New Zealand is on the up-grade again, after tho slight set-back last year. AVith tho present high prices for produce, this year should easily surpass 1911-12 figures, and may equal the re-cord-figures of 1909-10, or even -surpass them. Tho figures for tho two islands are, approximately: North Island, .£12,700,000; South Island, i7,9tf0,000, showing a big load-in-favour of the North Island. With the increase of bush land being brought into cultivation in 1 -the North, this disparity is likely to' rather thin dtereaso. On tho other side of tho balanceshdet, the ■ imports," thfe figures do not please-tho financial critics. Value of Imports for Years Ending September 30. 1908-9. 1909-10. . 1910-11. • 1911-12. •JB £ ■ : J> 15,620,308 .16,501,171 19,329,333 20.104,486 These-figures aro considered not to show enough margin between the values of the imports as compared with the exports, aria no doubt this objection is sound. It must, however, bo remembered tlmt New Zealand is still only in tho process of del velopment, and the- increase of capital value in the extra land being brought into cultivation must be 1 set against any dis-' parity 1 in- the figures given. Still,' the tightness of. money'shows that we go' slow for 'a while. ; There is, however, little danger of any serious crisis. Tho following are tho principal exports of New Zealand for tho three last years' 1909-10, 1910-11. 1911-12, £■£ £ . Wool 7,954,527 , 7,152,682 7,003,203 Meat (frozen) 3,929,311 3,588,479 3,868,910 Tallow 744,974 629,174 i 064,694 Butter ........ 1,724,456 1,G37,970 1,933,820 Cheese' ......... 1,263,005 1,088,120-1,510,236, Sheepskins ... 758,134'- 660,859 . 682,725 Gold .. 2,000,925 1,813,078 1,520,262 Kauri 'gum 523,620 398,357 - 353,598 Timber ': ..1... 367,049 473,156 ■ 440,653 NX hemp J.. ' 451;120 . ' 338,753 ' 338,495 Of, theso.tho products of the sheep 'are |f)'irly.'stat,i,oujry,.Jhp tho price, at home. ; Tho-'dairy cow;'however, is making headway, having! passed the three, million mark for tho first .time. Tlieso-two,'butter and cheese, aro likely to show t)io greatest expansion in the immediate future, is against the other articles in tho column.- Gold and kauri gum. show a serious'decline, and are likely to be reduced still ' more. Tho Auckland province,: however,' whi<jh produces most of tho two 'above, products, is finding a., good substitute in' the dairy cow. New Zealand.hemp will probably show a large increaso in the present year- owing to the tremendous rise. in price, about 60 per cent, rise having taken place the last few months. Speaking generally, .the wide range in the products of New Zealand is greatly in .her.favour.: With so- many articles, we are not likely to find a baa marjeet in.' all of them at once.