IMPORTS AND EXPORTS j

Hokitika Guardian, 11 July 1923, Page 4

IMPORTS AND EXPORTS j

It was in 1d.21-2! thill Ike ihij.ntinto XA ■ w Zealand wine so ex l essiw and gave ri-e in so milr’i tmuble t'> traders and bankers Rays ike ‘l;minion".!. The I,'liter rendeiid grot t ii's-istance. I'.ut 111 tile same iune JmI'lutei- bad a check placed on Hi.on | w'ltieli re-.ulted in iniiauu.- being great- I Iv I'edtced. Tlie swing e.t Cue t olein- j I him Wits' r.nlier pi".:imilllced since and tins given rise to some biliii ultic k When there was excessive importing the exchange was all against the importer, for the hanks being almost bare of funds in Loudon bail to im- j pn e a high rule to cheek the demand. .Siiue then the imports have contract- , ed vet v I ti-iik'i ably while I lie exporthave increased, the Milne of the ex- | ports exceeding the value ot the im-| pi rt- by -r-veial millions, and ibis has j been the feature of ihe pa-i eighteen mini! hs or nv 11 year-. The result of t!;is has been to give the banks enormous eicdits in l.imdon. with no fa. ili-ti.-s for transferring same to New Zealand. it’, however, the imports expand the diHieuUies of the exchange problem will be eased. The imparts show considerable growth tor in the live 'months ended May 31.-1 the import- were valued at £17.712.Phil as eoiiipaied with ci2.8ii2.277 in the corresponding live months of la-t year, an j incroa-e ~j C2.k, ii..>22. and il the in- [ el'ea.-e i- maintained at tin- rare, the expan-inii I ' tlie yaa i sltouhl b.‘ br—tween eight and nine millions -terling. Rut if the imp-oris have inerea-ed so have the export-. For the live months ni the current year the exports were valued til £2i';.i)2:;.2R. as .•cmi pared with £22.0-'fi.2l2. an ineivn.se of £2.■irO.DUti whieh i- almost tile -nnu' athe ineroase in the iniji ri-.