CHAMBER OF COMMERCE. ANNUAL MEETING.

Te Aroha News, Volume VII, Issue 386, 20 July 1889, Page 4

CHAMBER OF COMMERCE. ANNUAL MEETING.

Auckland^ July 17. Tun annual meeting of the Auckland Chamber of Commerce, held yosterday afternoon, was well attended, the mem bens present being : Messrs A. Clark, A. Porter, \V. Lodder, W. Tail, Thomson, Creen, A. H. Nathan, Nashelski, U. Wilding, R. Hunt, J. Waymouth, Bridgewalcr, R. A. (Jarr, Alfred Nathan, J. Reid, M. Clarke, C. Y. Houghton, and J. P. King. Axmtal Rkl'Out.— The Secretary 'submitted the annual report, which touched upon the various subjects winch had engaged the attention of the Council dining the pa&t year. The new taiill was refeired to as being on' the whole sati -.factory, although it had not yet totalled the amount anticipated, beinjr fJ55,392 under the estimate. Gratification was expicssed that the Treasurer did not intend to alter the present tarifi, .such alteration leading, in most instanceb, to disarrangement of trade without a commensurate return. Tho bankruptcy law& had beon considered, and resolutions arrived at had been forwarded to other Chambers of Commerce. In consequence of the action of tho Auckland Chamber ot Commerce, joint action had been taken by - all wholesale houses throughout the colony, so that one system of credit and discount prevail 1 * at all centres ot commerce. This, it is anticipated, will to a certain extent prevent that sy&tem oi underselling which lead* to in discriminate credit. Tho report turthei stated that not much piogiess had been made with regaid to the Notth Island Trunk Railway and railway north of Auckland. Ono clause reads : "Your Council is at a lo'-s to understand why tho Government aie so pertinacious in forcing on railways in the South Island, breaking their pledges as to abstaining fiom a so-called boi rowing policy by hypothecating land revenues, and should so determinedly set their face against any attempt at doing anything for the North Trunk line. Any subterfuge or excuse whereby they can evade its completion is cunningly availed of. Tho last sapient idea seems to bo that all work is to be stopped, and the money still available to bo frittered away in purchasing native lands as a future endowment ior the works. As it is problematical when the making of the line will bo resumed makes it more problematical chat the land will be ever wanted ; in the interim interest is being paid on the moneys ahoady borrowed, and a large quantity of land being added to the aheady enormous amount ot (>o\ eminent land that they cannot get settled for." With reference to the ban Francisco Mail Sei vice the icpoit states : "Theie can be no doubt that the San Francisco seivice will still continue between America and Australia, subsidy or no eubsidy, and it will be a standing disgi ace to New Zealand to allow this, sorviee to lapse for a mere sentiment, and thus cut themselves oil from an English-speaking population of 60,000,000 It is said that this line does not extend our commerce in a commensurate degiee. To show that no small trade at present exists, our expoits in 1888-89 were £207,822 to the RastCoa&t, £112,946 to the Wc^fc Coa< making a total of £320,768. That in itself is not to be ignoied, and though tho passenger ti attic at present is comparatively small, each year will tend to iisincrease. Wearo very desirous of opening up our Wonderland to tourists, and invite tho travelling world to vi^it them, and yet suicidally cut oil any chance of receiving visitors, from half the world." The railway returns were also touched upon. The report states that the quantity of goods carlied has considerably increased, owing no doubt to the great demand that has arisen to supply the want of the neighbouring colonies. The great problem to be solved by railway managers in the future will be how to increase the carrying of goods and merchandise to enable the farmer living at a distance to get his pioducc co a market without taking alibis piolits, and even in some cuse& adclino- to the cos>t of production in so doing. Reference was also made to tho opening up of trade with Canada, the settlement ot pensioners on the land, the trade with the Pacific Islands, and the mining industry. With regard to the latter the report states; "Several now sA'ctoms of i educing our refractory ores have been tried and many more contemplated, but so far nothing satisfactory has been done to reduce the oies at-payable price and fair icturn. ' Under the heading imports and exports it was mentioned that a large increase has taken plaoe in every article ot agricultural produce except wool, tallow, and sheepskins. The de-cicaf-e in the first of these two items is piobably one ot value rathei than quantity, and the second may be accounted for bv a larger portion of tho skins beinjf worked up by our tellmongers. A<? thero is a large increase in frozen mutton, there cannot wel,l be a dccieasc in the number of skins. The kauri gum returns show an incicise of 5 per cent, on the previous year, making a total return of £380,930. Butter and cheese al&o have increased by nearly 90 per cent. In concluding, the report stated : '■* It will be seen that our external trade i" much mote varied than is generally supposed, and that there is great room for expansion in vaiious diiections. Our exports now far exceed our imports, which would not be a healthy state of things but for the fact that we have a largo amount of interest to pay to British capitalists. As, thowever, the mle that exports produce imports still operates, and our purchasing power is in proportion to our products, wo may fairly expect a re\ival in our import trade, now (hat wo ha\e largely increased means for paying for imported goods, though in some cases the recent increase of duties must tend the othov way. The year 1888 is, wo bclio\o, unexampled "in tho history of the colony, ah show inu not only a lemui kable incioasc in our total e\poit«, but an incieaoe showing increased activity in a large number of diffctent industries, and we believe in the advent of a, steady and prosperous futuic." The Chairman, in moving the adoption of the report, lemarked at length on the industrial depression through which the colony had passed during the period 1886 to 1888, and to the silver lining of tho dark cloud that now appeared in the shape ot an improved harvest, and improved prices for colonial articles of export. '♦He thought that the lessons taught by past experiences would be valuable if they were not too soon forgotton, but borne in mind as a wholesome correction of their commercial sing. He then proceeded to discuss the cause of such waves of depression as had been encountered in the past, and came to the conclusion the blame rested largely on their own shoulders, and that the remedy was in their own hands. The depression was to a very great extent due to the almost unstinted borrowing policy of the past, which had permeated the whole colony, its Government, Harbour Boards and private bodies all fighting with each other over the extent of their operations. The result had been the construction of unjustifiable public works, and a vast expenditure in unnecessary governmental machinery. Their attitude in 'the future should be a strong determination not to undertako any except manifestly leproducuive works, Thero should be increased

ecohomy in the public ■ service, and \ the pre&enfc heavy taxation should be i lessened, and if in this manner ' New Zealand would be true to itself there need be no fear for the result, viz., an assured success for the country's future. So long, however, as the colony relied on borrowed money, trade and commerce could not flourish, capital would not come in, and depression would be the inevitable consequence. Captain Colbeck ne:st referred to the future prospects of the colony and colonial industries. He said he rejoiced because of the signs of returning prosperity that were manifest, andthatthere eeemed to be indications that there would be a permanency in the character of thc^e mprovements, although not so certain in this ic^pect as might oe desired. He mentioned the failure of Australia's grain crop lasb son son, and icmarked that, although this had proved to be New Zealand's opportunity, they could neither expect not wish that there would be any iecuuence of thia misfortune to the sister colony. He remarked upon the vast impiovcment that had taken place in such industries as* corn, flax, wool, gum and iron, and in lefevence to the latter said that there were indications that the manufacturing of iron was likely to be very choitly established, most probably in Auckland, on a sound basis. — On the motion of Mr J. r. King, seconded by Mr J. Waymouth, the Chairman was accorded a hearty voLo ot thanks for his address, and it was ordoied to be piintcd with the annual repott Oi-HUims. — Mr A. Clark proposed that Captain Colbeck be re-elected to the position ot President, and in doing so testified to the assiduity ot the President dining his pa&t term of office. Mr A. Xi. Nathan seconded tho nomination, which was agreed to unanimously. Mr J. Milne was unani mouely elected Vice President, and Mr A. H. Nathan representative of the Chamber on the Harbour Board. CoiMMTTTPiK. — The Committee for the ensuing year were elected as follows :—: — Messrs C. C. McMillan, T. Henderson, A. H. Nathan, A. Porter, N. A. Nathan, C. Y. Hough ton and H. Green. Auditor, Mr J. Waymouth. Thanks.— On the motion of Mr A . Porter, seconded by Mr A. 11. Nathan, a vote ot thanks was accorded to the retiring Committee and also to the Secretary, Mr Young, for valuabloservice& rendered during the past year. • Hints. — Mr J. Reid suggested that the new Committee should take into consideration the oppressive taxation now imposed, especially mentioning the necessity for taking action in order to obtain a repeal of tho property lax, and M. A. Clarke suggested that inquiiy should be made as to the possibility ot opening up trade with South America and South Africa. This concluded the business