THE DECADENCE OF DUNEDIN.

Inangahua Times, Volume IV, Issue 12, 7 May 1877, Page 3

THE DECADENCE OF DUNEDIN.

The Otago Times says :— A continue end serious falling off in our looal Custom revenue is not an agreeable circumstanc ova healthy sign. The decline for tb December quarter amounted to £6,954 and for the March quarter to £15,218, o a- total falling off in the six months c £22,172, or very nearly 12 per cent. A two-tbirds of the decline is on the a ralorem duties— viz., £14,535 in all— th ' idea is suggested that possibly there ar causes at work other than actual deolin in trade to account for tbis. It is ape Ctaliarity of ad valorem duties tbat the are not usually progressive, their md dence is so apparent tbat various device! short of actual and palpable fraud, are resorted to in order to reduce tbe invoici valuations to tbe lowest possible point Bnt, apart from this, there bas been i considerable decline of late in the cost o many goods at home tbat oome nnder tb< ad valorem schedule, so tbat a decline it yalne does not necessarily indicate a decline in quantities, lhere hi yet anotbei cause of a favorable rather tban an unfavorable character, and tbat is tbe in* crease in our manufactures, especially ol boots and shoes, woollens and clothing. Still, we fear, after making every allowance for tbese incidents of commeroial progress, we are not keeping tbe position we so long held of supremacy over the rest of the colony in point of relative trade. If the returns of imports and exports which we published a short time back are a safe index, Canterbury and Wellington are progressing at our expense—that is to say, they are doing trade that we once used to do. Until the revenue returns for the whole colony fot the quarter are published, we can, however only guess at our relative position. If the returns for the colony are as bad, in a revenue point of view, as tbose oi Dnnedin, the Treasurer will have to face a very serious defloienoy upon his rather sanguine Estimates, as tbere is nothing to indicate any probabily of recovery during the next six months.