WELLINGTON NEWS

Hokitika Guardian, 9 May 1931, Page 2

WELLINGTON NEWS

A LONG TERM VIEW. (Special Correspondent). WELLINGTON, May 8. So few of us can take a long term View of current economic conditions, and really it is very difficult to do so, for wool prices have receded again, butter is at 107/- per cwt and frozen meat is dull. Hemp is a decadent industry and kauri gum is an industry of the past. With such evidence before us it is only a man with strong convictions, with plenty of vision and the ability to see some distance ahead who can visualise a future seasoned with prosperity. Men of that calibre are few and far between, consequently in our daily walk and contact with others we hear with the sickening regularity of a recurring decimal that “trade is dull”. This tune is hummed, drummed and strummed on every key. that it is almost impossible to forget that “trade is dull”. There is not the least necessity for this constant repetition, f nr we all know that the economic conditions are not what we would like them to he. The only rebuff that can he offered these whispering pessimists is that our circumstances are no worse, if a !i bad ns other countries. If these pstembulnting calamity “speak easies M Woidd offer tome sensible suggestions for. bringing about an improvement in j-,he • conditions, m* if they would paint thgir gloomy pictures with some regard for truth by painting in n .str nn k or two; of | silver,.'which 'the far-seeing observe.: one would he nhln tn ! +nlnrnfe

observe.j 'one, would. T>*% ab’e to f ol n rnt'' them. their theme first and last fq “Trade is dull.” Trade js ( well .we krmv it,

end we could paint a darker pi Harp w'th almost opsone clouds. l>"t the picture would riot lie true if it did net pl’ow the faint silver lining to the black clouds. Wool ip. down, hut badly stated like that it conveys a wrong impression. It would he equally eorrect to say that wool is up. The fact is that wool prices are lower as compared with the last Loudon sales, hut higher a s compared with the London January sales.. Those in the habit of taking a long • term view of markets expsctec}>a but'vt4ye|'eerlai|i||||it Wooilci] Hpt d r loh^} ferm jndgdl> lf re! l c9iiVinced' * that wool will rise again, and rise beyond f•{•■s*? .^ai’chilpyej.. I?y^n.withjitter and* ■ Sw S m y i n?'s ' ' with long Views see prospects of slow improvemepiq-r’sjtill- Dairy; produce qtichmeat havri'iniiyttine lrilrH filtdiibepau^e.they .are shut out” phalli iffs. 1 We cannot accept ihi s as a chronic condition of affairs, tor tariffs can be altered, changed or amended, and that is one "of"the probabilities of the near future. We have of 6oUrsb to accept the position as it is and do our best to moot the.. »ituationr.yEfforts are being,-niade,. in.that''direction, but' whether we are doing all'tliat we should aricl all'that;'we;could do is another mailer. V: / \ 1 ;*• ißrotessors Of .‘the short term view ca'ri'Mpnly' serve, up to all and sundry therihausoating'.dish “Trade 'i§'drill.” They/, do 'nbtifread/ mark learn and inwardty; digest, the many... illuminating signgt.tha.t indicate that prosperity is lurkirigypti. •taie .other side of the hill. At the; beginning of April European and Arrieriean economists and ’statist-icians*-derived from tiie facts and .figures they had collected tiie mosfavourable' signs.' They were very guarded and contented themselves by saying that the downward trend of values l had been arrested, and one authority ventured to assert that the upward trend cf wool had definitely begun. A month has since elapsed and the figures for April show that unemployment in JBritaiiy-ris on the decrease, and.yit was.'definitely ? stated . tbe.j. other day'” that’',;tiyery'47,o(n) ’hands .. fewer werol.| unemployed; Smce the -■first.; last the number of uninripi^ed"according to the official • . figures . by. over. .178,000. -.That SUXmy. 'has. ' some ~ significance, jpvhen .• it :is* remembered ’ tj|tvt;.. there is this” at the very d awn of the European spring, piien again it is reported Sfthntri freight rates have strengthened, , ?v and, idle , shipping, has decreased dur•ing the fortnight by -Sop to 280 vessels. All these vessels want crews, ‘■ stores and whatnot, finding work and /' Wages for thousands who; will of necessity find work for thousands of others. Retail trade is said to be showing some improvement in Britain, c-.nong other things. These are the straws that indicate the direction of the economic wind, and the direction is satisfactory. To-day there are anin’e reasons for indulging in sober ootimism. .