The Hokitika Guardian WEDNESDAY, JANUARY 31st, 1923 AS OTHERS SEE US.

Hokitika Guardian, 31 January 1923, Page 2

The Hokitika Guardian WEDNESDAY, JANUARY 31st, 1923 AS OTHERS SEE US.

It would appear, says a London commercial journal, Irom the recently issued report of Mr R. W. Dalton, H. M. Trade Commissioner, on tile commeicial conditions in New Zealand as tit-wed in July last, that after the difficulties ut rlie last year of two, the

dominion i-. now v oil on ilie way to rccuveiy, amt that next season may witness an almost radical change. It should lint he forgotten, however that tlie weaknesses which New Zealand developed during the period of prosperity and subsequent crisis have been very largely covered up and still lie under the surface. The heavy stocks of imported goods have been very largely liquidated, with heavy losses; it is true, Imt without (my important disaster. Reports from all over the dominion show that new buying has already teac lnd quite important dimensions and tends to increase. Although trading concerns are still feeling something of the financial pinch of last year, there is more money available amongst them. One factor of serious significance has been the decline which has taken place during the last few years in the flocks in New Zealand. At the pre-war rate of increase it will take about ten years io recover the loss shown since 1918. There lias been an improvement in wool prices, however, and this fact, taken in conjunction with the reduction of (locks and the apparent arrival of better times in consuming countries should indicate definitely that New Zealand lias not only turned the corner so far as its most hardly hit industry is concerned, hut is within reasonable distance of quite material prosperity. Tlie dairy season of 1921-22 was one of the most favourable from, a climatic point of view which New Zealand has ever experienced. The quantify of butter which passed through the hands of graders in the eleven months ended June last was 999.0.92 cwt., as compared with 687,141 cwt. in the corresponding period of 1920-21 while the quantity of cheese which was graded in the eleven months ended June 1922. was 1,273,038 cwt., as compared with 1,114,060 cwt. in the corresponding period of 1920-21. Exports of butter during the calendar year 1921 totalled 898,478 cwt. valued at- £11.1(39,530 while the amount of cheese shipped totalled 1,368,786 cwt.. valued at £8,199,183. ’these figures indicate an enormous increase in the return to the dominion for its dairy produce—in fact, the increase in the exports of dairy produce last year far out-weighed the decrease in the exports of wool which amounted to about £6,000,000. Afr Dalton expresses the opinion that although the figures of imports into New Zealand for 1922 will certainly show a heavy decline, firms may look confidently for increased business from that dominion during tlie next year or eighteen months unless unexpected happens. Tlie table of imports covering the six months ended June last gives a clear indication of further improvement; while the United Kingdom’s share in the total trade has increased from 48.5 per cent, in 1921 to 52 per cent in the first half of 1922, the shares of all her oliiof competitors have declined. Air Dalton attributes tills improvement in the United Kingdom’s share of the trade to some extent to the new' tariff which cam© into force on November 4. 1921, but he points out that the full effect of the increased preference will not have been felt so far. He impresses on British firms the fact that on the whole the tariff is a practical expression of the desire of the Government of New Zealand to assist British trade with fttfs dominion to the fullest extent possible.