The Guardian And Evening Star, with which is incorporated the West Coast Times. FRIDAY, JUNE 33, 1933. THE TREND OF BUSINESS.

Hokitika Guardian, 30 June 1933, Page 4

The Guardian And Evening Star, with which is incorporated the West Coast Times. FRIDAY, JUNE 33, 1933. THE TREND OF BUSINESS.

Signs and confirmation that the trend of business in New Zealand, has an upward tenctency is the deduction to be drawn from a white paper issued by the department of Economics of Canterbury College. The economic improvement over the period of twelve months reviewed, is described as slight, but definite. Exports m general have increased both m quantities and values. There has been a large volume of financial transactions in the weekly banlv returns. Probably thg, position lias been affected by the alterations in the London exchange rates and the Government loan conversion scheme. But there is a better tone in the Home market, the main centre for New Zealand produce and products. Certainly from that quarter with Britain in an improving financial position, some greater good will be derived from the deliberations at the ■Economic Conference. However, in the meantime markets generally are firming all round of late. The metal market lias improved markedly, and is especially active. Tin, copper, lead and spelter all.show rises, some very substantial. The upward tendency is in keeping with the rise in prices for New Zealand. Butter lias advanced by twelve to fifteen shillings per cwt, and the wool and hide markets are much stronger with a further rising tendency. The stage is get, considers the Department, for effective economic action. What the World Conference will do, is still a very cloudy issue, and results can he guessed at only. If it can remove some of the obstacles to economic progress, the world trade should lift substantially. The problem of the war debts; the tariff question, and armament expenditure, are three issues on which if an agreement as to settlement were reached, the definite recovery would be more marked. New Zealand is well placed for ready betterment if trade improved. The banks hold an increasing volume of deposits signifying money to a substantial amount would ho available for expansion and development if there were the trade and business openings. All classes of exports show an increasing volume indicating that nroduction is being well maintained. The value of exports greatly exceed imports, making the local position stronger, hut this trade balance cannot bo carried on definitely with advantage. There is the complaint that New Zealand is not Patronising the E'p-lish market as fully as should he the case particularly in relation to the trade which Britain concedes to 'd' l Dominion. For the last year in particular the excess of exports over imports was very marked. Probably till the tariff is revised or something comes to pass at the Conference, there —ill lv a hesPancy about undue importing. The pressure of the present tariff and the imposPion of the sales tax on top of the high exchange, are a great cheek on buying overseas. l\eiiel is hoped for iq regard to exchange,

but in view of the national finance, Hie s.iics tax and the tariff may Hot be reduced , mated idly. Any relief in that quarter would tend to improve trading with Britain, and the improved reciprocal trade would be an inducement to expect a better market in Britain. With the trend of general trading as it is and the hopes founded in the London Conference, expectations for marked betterment seem to be well founded.