The Guardian And Evening Star, with which is incorporated the West Coast Times. SATURDAY, AUGUST 2nd, 1921. TRADE RETURNS.

Hokitika Guardian, 2 August 1924, Page 2

The Guardian And Evening Star, with which is incorporated the West Coast Times. SATURDAY, AUGUST 2nd, 1921. TRADE RETURNS.

'l’m-: half yearly returns issued bv iho Government Statistician for the period ended on .June 30th. disclose the fact that the balance of trade for the six mouths ended that date is in favour of the Dominion by over £ 10,000,,090. Hut taking the whole twehe months ended 30th. dune, the value of exports is £18.115.82(1, and of imports £•1-1,832, KM, or a credit balance of £3,(123.1192' for a year. Without going ■•losely into the items cl exports mid imports, it. may lie stated that for tin* six mouths, the first half of the calendar year, there is a drop in values in butter and cheese and frozen beef, but increases in returns from mutton and lamb, | ork and veal, Imps, live sheep, rabbit skins, holes and sheepskins, and opossum skins, and an increase in wool from L'8.153,911 Ito £12.188,971 nearly £3.710,900 more this six months than in the first lialt of 1923. <lii the import side there are considerable decreases in nle and stunt. Innl potable spirits, np--lare I, furs, hosiery and drapery; hut increases in electrical machinery, ten (on account of high prices), pianos, and idler musical instruments, nod motor-ears mid mineral oils. One outstanding item in the imports is i'♦■reals th>,t. have I icon imported to the total value of £533,870 (including wheal. £118.292). as com pared with £5200 for the first half of 1923. This will show how production of wheat and oats has fallen oil' in the country. The motor-cur trade is generally admitted to lie brisk, and some authorities say it is also sound, .Motor vehicle imports of the past six months ""ere £1.705,51 i, or £097,073 ‘more than the six niiintlis ended 30th, .Tube. 1923. 'Considering whatt the term “motor vehicles” now includes it does not follow that this import can he accurately Hescvihed as a liixury. That term as n.pj lied to motor vehicles lias now heroine obsolete, considering the many essential uses to which the mo-tor-car. lorry, and truck are now put. Taken as a whole the figures are very satisfactory. 'I hey show for twelve months a balance of trade to the good of £3.(523.000. Next month exporting will begin again, for the year 1921-25 with butter, followed in November with wool, and in December with lamb. Tin l only lly in the ointment is the exchange position. The credit referred to means the further accumulation of funds in London, combined with those from loans raised in that market. 'lho corrective to this, in tho opinion ol a large school of financial thinkers, is the resumption of the. free currency of gold. Another alternative. which it would he most undesirabje to have, is the closer approximation of imports to exports. Tho Jiigli rate of exchange is certainly u problem to he solved, and its solution is long overdue; hut tin' fact that the Dominion is in credit on its trade balance for the past twelve months to the amount of £3.023.000 is something to be thankful for. considering the difficulties of so many other and older countries to-dav.