The Daily News. FRIDAY, JULY, 17, 1903. THE CONDITION OF GERMAN INDUSTRY AND TRADE.

Taranaki Daily News, Volume XXXXV, Issue 166, 17 July 1903, Page 2

The Daily News. FRIDAY, JULY, 17, 1903. THE CONDITION OF GERMAN INDUSTRY AND TRADE.

The British Cojsul-General in Berlin, (in a general review of Get man industry : and trade, which has been published by the Foreign Office, states that the depression of 1901 was feU, though in a less degree, last year. Failures of important financial and commercial undertakings, which gave a shock to credit in 1901, were few and unimportant in 1902; and, although the latter showed a healthy recovery, the results were satisfactory in only a few branches of enterprise. For agriculture the year was a good one, but nob for industry, The cotton trade was depressed, wool and jute were better, mining and machinery, especially the electrical in- ) dustry, were in an unsatisfactory state; porcelain and glass were good, chemicals showed a email declinp, while sugar, breweries, cement, and paper were can- ' siderably worse than in 1901 so far aB dividends were concerned. The want of employment and reduction of wages had their usual result in decreasing the purchasing power of the great mass of ' the population. The exports were greater in quantity and value than in 1901, and nearly reached those of 1900, which was a record year; but this is to be attributed to industries fiaiiog no outlet for their produces at home, and beiDg forced to export. "It must not be forgotten," says the ConsulGeneral, " that the flatness of the whole mirket led to an export trade which was in many cases unremunerative, to use no stronger expression ;" and it is in this way that he accounts for large advances in exports in such articles as cottop, groceries, chemicals, and, above all in iron goods, where the increase is nearly 5| millions sterling. This las f , whioh >s the most striking feature op i the export trade, he attributes tp the , readiness of the manufacturers to ex- ' port at an actual loss in order to limit production as. little as passible, and to the facility with which America absorbed almost all the export. The United States took 313,000 tons in 1902, against 22,500 tons in 1901, and 8000 in 1900. German trade with Canada las': year was good ; with Australia it was bad, owing to over-export the previous year in anticipation of an inorease in the tariff; while with South Africa, German trade did not fulfil the expectations formed on the restoration of peace. The Oonsul-General con eludes his general review with the following observations:—" The question as to how the new Customs tariff will ftffdot the competition of German industry in ths world's marke*, and hiw trade contracts will be thereby influenced, is one of enormous importance for the development of the German export trade. As is well-known, both questions are the subjects of lively discussion, but no definite conclusion on the matter can ba at present arrived at." - -