The Daily News. SATURDAY, AUGUST 12, 1911. TRADE RETURNS.

Taranaki Daily News, Volume LIV, Issue 43, 12 August 1911, Page 4

The Daily News. SATURDAY, AUGUST 12, 1911. TRADE RETURNS.

The official returns of imports and exports for the quarter ended on June 30 are to hand, and, as usual, afford interesting reading, bearing as they do on the progress and prosperity of the country. Exports for the June quarter totalled £4,72-2,729 (1910, £5,709,006), whilst imports were valued at £3,969,439 (1910, £3,553,484). The excess of exports over imports in the June quarter was thus £753,290, as against an excess of £2,355,522 in the same quarter of the previous year. Although the last year shows a drop of £1,400,000 on the year before, it is still well ahead of any previous year. The 1909-10 season was a record in the history of the Dominion, brought about by heavy production and excellent prices for our main products. In the 1910-11 season the output was not quite so large, owing to drought, and values were slightly lower in many cases, but still a remarkably fine total was reached. With wool rather more than half the decline is accounted for by the lighter clip and the balance by reduced values received. The increase in frozen meat is entirely due to better prices. A larger output of hemp and kauri gum is outweighed by lower prices, while in butter, cheese and tallow the decline is partly in values. Turning now to imports we find that the total for the twelve months exhibits the substantial increase of some two and three-quarter millions. Following are the total va?ue» of our imports for the past five years: Including Excluding Year. specie. specie. £ \ 1 •<■£ 1006-7 16,311,854 15,486,903 1907-8 17.736.308 17.484,669 1008-9 16,535,018 15,755,090 1909-10 15.645,060 15,266,815 1910-11 15,579,109 18,001,021 It would appear from these figures that with two years' reduced buying importers' stocks had reached a fairly low level, and that they were replenished last year in anticipation of improved trade. No details of the classes of goods are given in the import returns, but the Customs revenue returns show the heaviest increase jn "goods by weight" and "goods ad valorem." In the latter drapery always represents a very large proportion, Spirits and tobacco goods have an increase of about 5 per cent. To a considerable extent exports provide the funds to pay for imports and to meet interest obligations. The following figures give a comparison of the totals, the value of specie being omitted:

Excess of Exports. Imports. Exports. £ £ £ 1906-7.. 19,403,248 15,486,903 3.916,345 1907-8.. 16,745,589 17.484.669 *739,080 1908-9.. 18.309.279 15,755,096 2,554,183 1909-10. 21,911,723 15,200.815 6.644,908 1910-11. 20.510.928 18,001,021 2.509.907 * Excess of imports. From those figures it appears that the country recovered remarkably well from the depression of two years back, says the Wellington Times, to which we are indebted for the above particulars. With a favorable season for primary products in the coming spring and summer we may look forward to the national income being at a high level, and, consequently, to a general activity in trade.

'fortable salary and house allowance (he is a bachelor) running well over £IOOO a year, this is remarkable. In the Council the other day he said that farmers employing "hands" should be csmpelled to give them some of their land! Years and years ago Mr. McGowan was a,.j grocer, and a very sueeessul one. There I is no record that he gave pieces of his I business to his assistants. After he became a Minister of the Crown, although he got a much larger salary than he as a bachelor needed, he did not hand any of it to set up his private secretaries in business. If he ever had any share 'transactions—and he may have had—it is remarkable that on a rising market he did not make his fellow-Thamesites happy with large bonuses or endow a hospital, or buy a park for the people. This giving away of land is a good idea —if Mr. McGowan will begin the giving. Years ago in the days of bushrangers and Botany Bay Australian squatters who had land had no money. They paid their "hands" in sheep or cattle; and the beasts ran on the squatter's land, or the ■ squatter gave his workers a few miles of country. But Australian land wasn't worth fCO an acre, or two shillings for that matter. We will imagine the quite well-off Mr. McGowan as a Taranaki farmer who has worked quite as hard at his farm as Mr. McGowan worked in his grocer's shop at the foot of the Waiotahi creek—or wherever it was. He pays his man what is the prevailing wage, but the law jumps up and says that besides this the man shall have part of Mr. McGowan's farm! Imagine Mr. McGowan's horror for a minute! On the other hand, Mr. McGowan is not a farmer. He probably has no agricultural land, and his holdings may be confined to business or residential sites. Suppose A.B. to be his tenant. A.B. has paid rent, say, for 30 years. Why not give A.B. the house? "But," says Mr. McGowan, "I don't want to make laws to hurt myself. I desire to make the farmer disgorge to the poor suffering milker." When Mr. McGowan, ex-Min-ister of Justice, etc., initiates the reform he desires, by handing out free land for work done by men who have been paid for it, we expect to see farmers following suit. Anyone who has the felicity to know Mr. McGowan will also know 1 that the medicine he prescribes is not for personal use. That socialist story ought to fit in here once more: "If you had two horses, Mr, Red Flag, would you 1 give me one!" "Certainly!" "And if you had two cows —one for me?" "Of course!" "And suppose you had two pigs!" "Ah! You cunning beggar! You know I've got two pigs!"