New Zealand Spectator, AND COOK'S STRAIT GUARDIAN. Saturday, May 11, 1850.

New Zealand Spectator and Cook's Strait Guardian, Volume VI, Issue 498, 11 May 1850, Page 2

New Zealand Spectator, AND COOK'S STRAIT GUARDIAN. Saturday, May 11, 1850.

The progressive increase and present activity of the coasting trade of this settlement affords much matter for congratulation. The amount of tonnage employed during the first quarter of the present* year, if compared with the corresponding quarters of the two previous years, shews the great improvement which has taken place. In the absence of published official documents to which we might refer, the shipping intelligence of our Journal will afford us sufficient data for the comparisons we are about to institute. On examining our Shipping List we find the total amount of tonnage employed in importing articles coastwise to Wellington during the quarter ending 31st March, 1849, to be 1533 tons, and the number of vessels 66 ; the total amount of tonnage similarly employed during the quarter ending 31st March, 1850, is 2265 tons, and the number of vessels 76. The amount of tonnage employed coastwise in importing articles to Wellington during the year 1848 according to the Statistics published by the Local Government was 6044 tons, the number of vessels 80. If we suppose the coasting trade to continue only at its present rate, this would give, with reference to the two preceding years, an increase of nearly 50 per cent. But we are fairly entitled to assume that the coasting trade of this port, instead of remaining stationary, will show a progressive improvement during each quarter ; that the impulse it has received will be fully sustained, since the causes which have contributed to this improvement are still in operation and are likely to receive fresh development. Two causes which have led to the greatest improvement are the demand for flax in Sydney, and the opening trade with California. The quantity of flax imported coastwise into Wellington during the quarter ending, 31st December, 1848, was 1 ton 12 cwt ; of rope and cordage 16f tons ; while during the Quarter ending 31st March, 1850, there were imported 24£ tons flax and 48 tons wool lashing, and though the demand for wool lashing has ceased in Sydney with the wool season, the price of flax is sufficiently remunerative to allow the trade to be carried on with unabated activity. The trade with California has occasioned a great increase in the im

portation coastwise of timber, potatoes, onions, and other produce, and as the trade has only just commenced we may anticipate from this cause a still greater extension of our coasting trade. The trade with Otago has also gradually improved with the increase of that settlement, and if the plans of the Canterbury Association are carried out they cannot fail to have a most beneficial effect on the coasting trade of this port. We have thus briefly indicated some of the causes at work in the extension of the coasting trade, and have shewn the very great improvement which has already taken place. If during the current year, as we are led to expect, local steam communication should be established between the different settlements of New Zealand, and the colony should be connected by steam with the mother country, the most powerful stimulus will be given to the coasting trade of the colony, the effect of which will be exhibited in an increase far beyond its present rate of improvement.

We believe it is shortly intended to establish in this Province a Government Bank of Issue under the provisions of the Paper Currency Ordinance, a Government Bank of Issue having already been established in the Northern Province of this Colony. The notes, which have been printed in England, are of a very neat design, those for one pound are printed in black ink and those for five pounds in red ink. This difference of colour will prevent mistakes among the natives and those who are unable to read.