The Daily News. SATURDAY, JULY 15, 1905. TARANAKI'S POSITION.

Taranaki Daily News, Volume XLVII, Issue 7873, 15 July 1905, Page 2

The Daily News. SATURDAY, JULY 15, 1905. TARANAKI'S POSITION.

o It seems almost inconceivable that vie should he obliged to revert to this subject, which Was dealt Willi fully in these columns sonic three | months lack. Our Wellington morning contemporary has, however, thought lit to resurrect the subject, and" to proclaim to its readers thai a depression exisis in Taranaki, ami that Wellington merchants are experiencing a difficulty in getting money from Taranaki clients. We [are not concerned as to the source (from which the Times has drawn its information, except to point out iha I a mere glance at the value oi Taranaki's exports would have Inei. sufficient to convince any person of intelligence thai so far from there being any justification for the existence of a. •depression, the figures show an advance in value over preceding years, liolh the Mayor of New Plymouth and Mr J. B. Conuett have, while at Wellington recently, made the position of matters clear and demonstrated that the restricted circulation of money in the district is not due to a depression, tout to a late spring, a dry summer, and a lower yield of milk than the average looked for. To compensate for these drawbacks to some extent, there has been a higher price ruling for tatter, jjul the producers have learnt a lessohi in prudence. The Times reprcseiti'alivc who interviewed Mr Connet I, apparently did not understand how to reconcile ihe shortage of output witll the increased value. We arc not surprised at his asking for an explanation, Jiecause it is abundantly evident that <]re whole subject is not understood ty our contemporary, and it is to be regretted that misleading statements, should he circulated by any journal. Kvcn jvhen giving a full account of the interview with Mr Counctl, there appears as one of the headings, "The Financial Depression in the District (Taranaki)," and though the matter was "discussed" by the reporter, he appears to have only spoken once, ana then to ask a question which *v fully laid bare his want of Knowledge

lof tin' subject. There was nothing fresh to bring forward beyond what we bad already pointed out as to tliu ;»und financial position which exists ihl Taranaki. Undoubtedly there is a lightness in money v-. this district, bui certainly no depression. tiiecx- 1 ei'ci. a." of caution and prudence in spen. ling money in the face of such an unfavourable season as that wc have jtet coucludwi, is to be commended § 11 tradesmen overstocked on ttre ass suiptiou that the wonderful progress of the past few years was nut to rvc-t'hi: any check, then merchants m'*y ha»e tljlficulty in getting paid up„ hut there is no danger oi the iiicojivyenicuc*: being mote than temporary. At the same time, if they find our <i.i.lesmeu dealing aitn merchants in tlie other cent its whose repireseiii.ttives do not make a discrrdit-dM.< outcry against the credit oi this <:\strict, they need not be surprised, anil will only have tl>e consolation m' throwing the blame lon the indisi'ieet journal which is oim of the li,st to .decry the discrediting of ilie colony by its political opponents. If the Pelonc Chronicle is to be bcljeTcd the number of men ! out of work.in Wellington exceeds a)) i previous records. Thai may, Well lie I poinled In as u sign of depression, though even such an undesirable I stale of affairs may be capable of a j reasonable explanation. Our Eltham j contemporary states that the pre- j srnt winter reason has neither becu better nor (torse than its pretlcces- / sors, tad U& iadicitions o{ a prolific

season ahead arc brighter than ever. The same ftoHs good in other parts, ami it is about time that wc heard the last of these attempts to discredit a district which has shown greater progress o( late than any other in the colony.