COMMERCIAL EXCHANGES.

Evening Star, Issue 3618, 26 September 1874, Page 3

COMMERCIAL EXCHANGES.

A subject worthy of consideration in some of the chief commercial cities in New Zealand is the establishment of a City Exchange. What can be done in this way in Colonial cities has been well illustrated in Sydney. The members of the Exchange there lately made a presentation to the Hon. G. A. Lloyd, in recognition of his services in popularising the institution, and in < acknowledging the testimonial, Mr Lloyd said He had simply done what any other man would have done who travelled about with bis eyes open. He was one of the first shareholders of the Sydney Exchange Company ; and, after the building had been in existence many yean, they found tha undertaking a complete failure. Its halls were deserted, and it was very seldom that anyone was found in them; whilst at one time its income did not exceed LIOO a year About five years ago he crossed the Pacific Ocean, and visited a city with a population similar in its numerical strength to that of Sydney. There he found an institution with similar objects to the Sydney Exchange, but full of life and animation. He could scarcely understand how it was that there should be such a difference between Sydney and San Francisco. On examination, however, he ascertained that they made it Che central point for the collection of all the information on commercial and other matters that could be obtained. Telegrams were coming in from all par ts of the world, at all hours of the day, and posted blaco n b boards. Not only was information obtained ky the electric wires, but newspapers from all the important cities of the world were received almost daily, and kept easy of access. And in addition to the large amount of food for the mind there was also food for the bod j . About one o’clock every day, nearly every man of standing in the city was to be found in the room were ’Change was held; and there they remained for half an hour or three quarters of an hour, getting information and transacting business. When he returned to Sydney he determined to see if something of the kind could not be carried out with regard to the Exchange. He suggested to his brother shareholders certain alterations; and he was happy to say they entered into the spirit of the thing with as much enthusiasm as he did himself. Although there were a few who were not quite so favorable to the proposed alterations, they at last gave way to those who desired to resuscitate the Exchange. We had now, he believed, got the start of the sister Colonies. It was acknowledged on all hands that we had now an Exchange worthy of the chief city of the Pacific ; and he hoped it weuld be the emporium of commerce. Men met at an Exchange to do business, and to learn what was going on in their own city, and all over the world. They existed in all the great centres of -civilisation, such as London, New York, Paris. Amsterdam, and Hamburg ; and, although the Exchange in London had beOn twice destroyed by fire, on each occasion a new and more commodious and grander building rose on the ashes of its predecessor. He had seen men pouring into the London Exchange by hundreds about four o’clock of an afternoon. You might there meet with all the leading men connected with the banks and mercantile institutions about that hour. The Government of this country had done what it could to promote the interests of commerce by establishing free trade, and mail communication with England, by way of the United States, and with the sister Colonies, we had now a mail communication going on in all directions, which was no discredit to Australasia. But all these advantages [would not assist us, if the merchants themselves would not meet and take counsel together, in order that they might push forward the great trade of which this Colony was destined to be the centre, and which ought to be extended far and wide.