THE DOMINION'S OUTLOOK.

Taranaki Daily News, 19 June 1915, Page 4

THE DOMINION'S OUTLOOK.

The views of the chairman of the Bank of New Zealand 011 current events and their influence on the commercial and industrial affairs of the Dominion are always worthy of note, in spite of the tinge of excessive caution—oftimes pessimism—that U to be found more or less in evidence. While expressing the opinion, in liis annual report, that we may look for a continuance of good trade, lie considers that after the war drastic changes wil follow, and the value of some commodities suffer a. decline, while others will advance. Again, though ho points to financial case being apparent, he takes care to utter a warning tlia.t this ease is like the enlm hefore the storm, presaging strain and stress later on. It, is, however, with his remarks upon the movements that have been initiated at various points throughout the Dominion to establish new freezing works and refrigerating stores that call for notice. He is fit some pains to utter, words of warning to the initiators of such projeots, and he stresses the point that the present abnormal conditions should not be overlooked, and that the existing facilities for dealing with, frozen products are probably, in most cases, quite adequate. Mr. Beauchamp is evidently not aware that most, if not all, of the proposed new freezing works were projected before the war, -when conditions were normal. He has also .failed to grasp the fact, or is ignorant of it, that if; is the farmers who are chiefly moving in the matter of freezing works, in order thait they may be sure of disposing of their fat stock, and save the profits of the middleman. In this they show that wisdom which would not he in evidence if, as Mr. Jieauchamp urges, they abandoned the ventures. We can, however, applaud his remarks on the prospective. opening up of new markets with America, Canada, China, Japan and Russia, trade with whom seems to have illimitable possibilities, and at no distant date. This is far a more cheery view of the future than looking for the •storm to follow the present financial