HOPEFUL PROSPECTS.

Taranaki Daily News, Volume LV, Issue 190, 31 December 1912, Page 4

HOPEFUL PROSPECTS.

The factors that make for buoyant trade and- prosperity are abundant and conspicuous. To quote a contemporary: ■British is- enjoying unbounded and unprecedented prosperity; there is extreme industrial activity throughout Great Britain, and a great trade boom seems inevitable. In Germany and France there is also activity. America lias harvested a record crop, and trade in that immense country is booming. The trade of Argentina.stea'dily grows, and so also does that of South Africa and India. From ail points of the com-, pass the reports of improvement are very cheering. The basis of this prosperity is the magnificent crops harvested this year. In a recent number of th,e Journal des Economistes, Mr. Yves Guvot emphasises the importance of the -world's crops as a primary element in human progress of national prosperity. According to the latest estimates, the cereal harvests of 1012 put* at the disposal of mankind £-240,000,000 more than those of the preceding year. The total estimated value of wheat is £700»000,000, and the aggregate yield of the world's crops of wlieat, barley, oats, rye and maize is reckoned to Wworth nearly Gijeat Britain, the United States and whatever interferes with this, the greatest industry of the world, is consequently injurious to human advancement. Breat Britain, the United States and Germany cannot be prosperous without that prosperity being reflected in New Zealand. We are, therefore, bound to have a very favorable experience in 1913. The only cloud, at the moment, and it appears to be somewhat large, is the political situation in Europe. If there is no big European war, then the forecasts will be good, but if there is war it will -be impossible to say what will happen. Trade is so good at the moment, and with big prices for the immediate future, that pressure is sure to be applied to hold the pugnacious statesmen in check. The prices for all our produce should continue at a high level, there will probably be plenty of work at good wages for willing workers, and tne profits of traders and manufacturers should be satisfactory.