The Daily Telegraph. TUESDAY, MARCH 13, 1883.

Daily Telegraph (Napier), Issue 3640, 13 March 1883, Page 2

The Daily Telegraph. TUESDAY, MARCH 13, 1883.

The telegraph so completely forestalls nows by the mail that, when letters and newspapers reach this colony, the information they contain is stale imd comparatively flat and unprofitable. Nevertheless there are some subjects -which by their nature are made more attractive by the short notice they obtain by cable message—subjects that cannot be exhaustively dealt with, and which require more explanation than is vouchsafed in a telegram. Amongst theso may be classed tho state of commerce and reviews of a market. By the last mail wo havo received several trade circulars, and they all more or less refer to the trade of tho past year. Trade in 1882 began tolerably briskly, all things considered, but after the first two or three months the briskness gave place to some depression. Whether the falling off is ascribablo to the shrinkage of prices, or to a reduction in tho cjuuntities of produce and manufactures coming- in and going out, is not a question of first importance, the prominent fact being that trade seems to languish and fall back. There is, however, some consolation in knowing that somewhere in the world the demand" for British goods is as great as ever, although the prices paid may bo lower—and the figures lead to that inference. Very'few articles in the export list show higher prices this year than last; in most erses, on the contrary, there has been a considerable fall. A variety of causes have combined to make the foreign trade of 1882 unsatisfactory. There is a suspension of its elasticity, and a,s_ yet no compensating movement has made itfelf felt in internal business. The harvest was undeniably better than that of any one of the three proceeding years, and it has led to improved business, but not to the extent anticipated. No extraordinary activity has developed itself anywhere, and tho disappointment is, therefore, considerable — more than the facts wan-ant, for the home trade is, at bottom; wonderfully sound in most branches. The trade of the colonial wool market during the past year calls for little special remark, the fluctuations in values having been within a very moderate compass. The average position of merino wools at the end ' of the year stands a trifle over that at the end of 1881, and all coarser descriptions of crossbred avool have in the same interval lost value gradually to tho extent of some 10 to 15 per cent. Generally speaking , , the year has been one of disappointed expectation to the trade. Tho more sangiuuc anticipations originated in Australasian centres, on the expectation of a curtailed supply owing to drought, were reflected hither in many quarters. Theso topee wore festered by the prospects of

good harvests, pence, and improving trade, but nono of them have been realised. The drop in values of home-grown and colonial coarse wools has been accompanied by a very unsatisfactory state of trade in those departments. 1,09:2,495 bales have been catalogued here during the year, and 16,000 bales of old stock now remain in first hands, which cannot be regarded as a heavy proportion. Another bad teason in many parts of Australasia will apparently luive a detrimental effect on the quantity, as well as on the staple growth and general condition, of the clip now coming to hand and will render good sound merino wools scarce. Values do not stand at a high point at present, and, with anything like _ general prosperity, the outlook for the coming year appears favourable.