TRADE IN THE DOMINION.

Taranaki Daily News, Volume LII, Issue 52, 26 March 1909, Page 4

TRADE IN THE DOMINION.

A "PERIODICAL IiECTtI'TCATTON." Wellington, Tuesday. Tim present condition, of trade in the Dominion, formed the subject of some interesting remarks by Mr. John Dulhie to-day. "Thi; subject," lie said, "is an extremely wide one. If it is suggested that we might have a depression such as followed the war of 1803-5, or the Yogcl boom, 1 do not fear anything of the sort. New Zealand is now more greatly developed, and there is too much wealth hi tJlie community to admit of such a contingency, but we are probably on the eve -of a period which economic causes will largely control. During the hist twenty years employment has been greatly maintained by the expenditure of an "Abnormal amount of capital borrowed by the general Government, and by the various local bodies, probably, aiso, and to even a larger extent by private and company enterprise. By ibis the lands of the country have been made productive. Towns have been built, and industrial enterprise largely developed. But probably this class of expenditure will in future be more restricted, and so affect employment." "Tn any country after a period of inflation a cheek necessarily follows. The price of land during such a time advances beyond its productive or business value, rents rise above the profits of trade, or what those in normal employment can all'ord. Such is our present position. Hut while- so many are able anil ready to make investment in land, there may probably lie. no great slump. Yvt the prices of property will have to settle down before advances will again be procurable on legitimate values, lit prosperous times there it* always a tendency to overtrade, and periodical rectification is therefore incidental to business in all countries."