The Guardian AND EVENING STAR, With which is incorporated “ The West Coast Times.” MONDAY, MAY 30th, 1921

Hokitika Guardian, 30 May 1921, Page 2

The Guardian AND EVENING STAR, With which is incorporated “ The West Coast Times.” MONDAY, MAY 30th, 1921

THE TIM HER INDUSTRY. Tiik information published on Saturday in regard to the local timber trade did not make cheertul reading tor it emphasised the fact that this district was about to experience its share of general slump in trade said to be pervading the whole Dominion. All through the war period and tor the term following, the sawmilling industry was the one avenue ol employment and production to stand to the district in the matter of local prosperity. I he mining petred out, and sawmilling airived in time to take its place, lor the time bring very adequately. Rut with sawmilling passing into doldrums now, there is nothing immediately at hand to take its place, and if the pessimistic situation arises w hich some milleis foreshadow, then unemployment will be severely felt in the district. The fact that Government has restricted its expenditure at this juncture will intensify the position ; but as a miller put it, the Government cannot be expected to do everything, and if they, any more than a private employer have not the money to carry on, the inevitable stoppage must result. The gentleman who made this remark feared that something more than unemployment would come to pass; actual want would be felt, and he thought steps would have to he taken in a public way to combat the probable situation ahead. This is not a cheering view, but it is as well to face the facts betimes, and not trust Mirawber-like for something to turn up. The stagnation in finance in other parts is the cause of the trouble, thereby curtailing enterprise, and preventing building. The disorganisation of the country’s finance by reason of the tremendous volume of imports has reduced the money available in the country for internal enterprises. This reduction. together with the chariness of those with capital to speculate, has been the chief cause of the shortage of money for general trading purposes, and the restriction is now reflected on the timber trade. Imports of foreign I timbers are playing their part in the ] local curtailment of the industry, beI cause the local product cannot compete in price with the dumped article. A good deal of the Oregon coming in just how is said to he landing here at a loss of five dollars per thousand feet to the ' exporter, who makes this cut in order to sell In’s timber at all. If local mill- ' ors wore to attempt a similar sacrifice it would mean ruination. As it is many of these will stand to lose con- ' sidernble sums, while their properties become depreciated in value. For the moment, then, the position is difficult, and certainlv serious. A revival m trade would redeem the position, but those connected with the business are not very hopeful on that prospect. They intimate that the Australian market is in a worse state than the New Zealand, and the prospects over there aiy not as satisfying as those here for a eomPnrativelv early revival. No doubt wer e Government borrowing in England successful at the moment, it would give sc.aie buoyancy to the position, though 1 this could pot. lq. lasting, The real re-

quirement is a genuine trade revival to be brought about by better prices for the country’s primary products, and an inflow of earned, not borrowed, money. Some patience must be exercised and always hopefulness, while all must try and do their l>est to minimise the present situation find negotiate the difficulties wth the lpn-st possible dislocation.