The Daily News SATURDAY, OCTOBER 9. THE SEASON'S OUTLOOK.

Taranaki Daily News, Volume LII, Issue 210, 9 October 1909, Page 2

The Daily News SATURDAY, OCTOBER 9. THE SEASON'S OUTLOOK.

There is every justification for the hopeful outlook that is being taken throughout the dominion for the producing year just opened. So far as we in Taranaki are concerned, seldom indeed have the prospects of a bountiful harvest from the dairying industry been so bright. An extremely mild winter, following a siMinner which induced a much greater growth of fodder than could be consumed, enabled the herds to winter under circumstances that brought them into profit in the best of condition. The increase in the dairy herds, combined with the anticipated increase in the aggregate production of the herds, promise a very Considerable increase in the season's export of butter and cheese. While, therefore, the prices may not rule so high as those at which many factories were fortunate to sell at tho couuucii'jcmeut of lasL reason, (here is ovei reason to believe that the increase in the volume of sales will considerably more Lhan compensate the province for any imam (.paled drop in values. To our miiid, although we do not pose as proplK'U of an industry that has baffled those wh.i most closely watch ln». .vinual gamble—for such it is—of our products in the Home market, there is not the slightest reason why very satisfac tory prices should nut be realised. Naturally buyers, .in \.ew of the Miiiie

what unfortunate some of them had last season, are not taking the risk of competitive pricc.v to ?vcui'r outputs this season. But their ell'oris at Home will he no less siu-nuoii.i this year to secure tin* best possible price when disposing of their purchases or consignments. The English retail market, moreover, promises to be in -,i modi more healthy condition, as recent file?, indicate that the unemployment and decreased spending power of the workers are likely to be much less acute during the coining winter than was the case last year. Further, also, it mav he

taken for granted that the defects in our butter that were alleged to have prejudiciously a Dec ted its sale will uol lie in evidence this year, and th" last, il is to he hoped, lias been heard ot f* water-logging." The outlook of the cheese market is decidedly r<\i>-aring. and the great expansion lliai is certain to be witnessed in this year's munufactnre should-be still fm\irr enli.i 11 -mI by the very satisfactory prces expected. On the whole, therefore, no npprehensii n need be felt in the dominion re-pivi-ing the siu'i e*s of this year'-' dairying operations provided a season of ordinan weather conditions is experienced. As with the dairymen, the Hocks of Hi" pastoralists have wintered well, and tin lambing season throughout New Zca land has been a partieu! .»v prolitabh one. The export of lamb from the dominion should be very large, and price-

promise to be well up to tile averse. While tin' mutton anil beef market max not fully recover the buoyancy of a few Reasons back, thort* are already indica tions that a payable market will Ix met. hi the South Island also farmers are in good spirits respecting the year's harvest prospects. The Ihix imlustry. which for some time past lias been under a cloud, is showing undoubted signs of returning prosperity, and inci ra>vil prices combined with later methods and economical handling should very soon witness the reemployment of nunv hundreds of temporarily *• retrenched'' workers. The timber industry, also, seems to have speedily recovered from its late depression, and the difficulty in j»ome localities is now to iind the labor to cope with the demand on the ,miIU All these circumstances, combined with the .present vigorous settlement of the land, make the outlook for the year one of tin* brightest in many bright years, ,nxl should be rellected in the tone of business generally.

I THE MONEY MARKET. "There has of late been lio noticeable change in the conditions obtaining in the Slew Zealand money market," sa/s the Trade Review, "the supply of money both in banking circles and fti tile open market being fairly sufficient for ordinary requirements: Th« quarterly returns to 30th September are looked forward to with much interest, both those relating to banking business and those dealing with the imports end expoits of the Dominion. As regards imports and exports, the September quarter is the weak period of tile year. For exports it is the fag end of the prodnu year, and the volume of shipments ialways very liglit, while imports ale usually pretty heavy. It is practically certain that on this occasion exports will prove heavier and imports lighten than usual, but wt think it is too much to hope that the excess will not prove to be on the side of imports. At the same time the September quarter brings with it the requirements of the producers for the means of preparing and moving the season's products'. Kor these reasons we do not think that the coming banking returns can be expected to disclose much, if any, further ease ill the financial position. fndee<|, we regard it as possible that any alteration may .ie in the other direction. However, the season is exceptionally forward, and the returns of the wool clip and of the dairy trade are likely to be higher than ever before, and to bo gathered in at an earlier date. We therefore regard tl.e prospects in the near future as very c. couraging. On the other hand. I'ie Prime Minister reports havino made satisfactory arrangements during his recent visit to jjondon for the supply ol needed funds for the Advances to Settlers Office, for public works, and for local governing bodies. The money required for these purposes being tints provided for outside the Dominion, the local market will be relieved of tiic demands which in lucent vears have absorbed funds which uifght otherwise have been available for local require- . menu. There is therefore every pros- 1 peel, in the absence of uulooked- rr ' complications, of a steadv improvement 5 in the financial position "with the turn ! of the year, and thenceforward."