The Daily News. WEDNESDAY, OCTOBER 21, 1914. CONDITIONS IN THE DOMINION.

Taranaki Daily News, Volume LVII, Issue 126, 21 October 1914, Page 4

The Daily News. WEDNESDAY, OCTOBER 21, 1914. CONDITIONS IN THE DOMINION.

Tli ere is, it seems, n good deal of unem- \ plcyment among tlie building trade. Ac* : cording to an Auckland Press wire, tlier# j are at present 250 earpeutcra out of work in the northern city, a*d reports from other centres reveal a similar state of i.V.i;x*. TUmUy there is no cause for 'a cessation or building operations or business of any kind. Now Zealand, by eason of its geographical position and the fact of it being a producing country, \ i probably less affected by the war than any other country in tha world. As a matter of fact, the war will actually benefit New Zealand, in flint the unwonted demand for foodstuffs will causo a substantial increase in prices to the producer. Butter is now commanding six shillings a hundredweight more • than it did this time last year, whilst jclieeso is realising approximately lis por cwt. more. Tho probabilities aro that |these prices will increase still more, ow'ing to the disturbance of supplies from j Russia, France and other European countries. The climatic conditions in tl)«

■Dominion have never been more favorjable for dairying than they have been jso far this season, and the prospects for ja record producing season are bright. |As for frozen meat, the demand is un- | usually strong. Present prices on tha 'London market for New Zealand beef are more than 2j per cent, greater tliin at the same time last year, whilst the price for mutton shows an increase of 1 per cent.; that for lamb showing »n licrease of 2S per cent. The prospecta or wool are also very satisfactory. Crossbred.*), which form the great bulk of our ; wool export*, are in great dejinand for blankets and warm clothing [for the soldiers, and growers can confidently look forward to receiving very [payable returns during the coming scajson. It is not too much to expect that as a result of the war New Zealand's 'exports will increase in value by from three to five millions sterling this year. At the same time, the imports will hare fallen oil appreciably, leaving what will possibly be the greatest, margin of credit New Zealand lias yet experienced. Against this, however, will have to be set a part of the expenses we are incurring over sending snd maintaining our contingent. Probably tlio cost for the year will run into nearly two millioa sterling, but this charge will be met out of a loan, the repayment of which will bo distributed over a number of years, j The future as far as we in New Zealand jare concerned "was never so hopeful, and (business, instead of being Black, should brisker than usual. Many people are a little apprehensive of what the war may bring forth, and have accepted the Prime Minister's advico to 'husband their resources a littlfl too literally, The banks aro pursuing a very cautious policy. Whilst not pushing clients- in any way, they arc making no fresh advances. The Government lending departments are no better; they are n»t falling over themselves in their eagerness to loan money to settlers or anyone else. This, ; of course, stops a good deal of enterprise, ■ especially in the building line, but the general situation is so satisfactory that

both the State and the banks might very safely and profitably unloosen their purse-strings and give the Dominion a lead which at present it ia badly in need of,