The Daily News. WEDNESDAY, MAY 18, 1917. THE DOMINION'S TRADE.

Taranaki Daily News, 16 May 1917, Page 4

The Daily News. WEDNESDAY, MAY 18, 1917. THE DOMINION'S TRADE.

Now that the final trade returns for the •year ending March 31 last have been gazetted, the figures will come very much as a surprise by reason of the enormous increase in imports. It has to be borne in mind that increased values have a marked effect in swelling the total both of imports and efforts, the value of the imports being that at the port of shipment. Thero will doubtless be several explanations put forward relative to the largely increased imports »t a time when rigid economy has been so persistently urged, but it is amazing to find that the imports for 1916-17 are more than four mlillions in value than those for the preceding twelve months, | and this in spite of the shipping famine. For the four years prior to 1916-17 the value of imports to the Dominion varied but little, keeping on the twenty-one million mark except in 1914r15 when they dropped jußt below twenty millions, It is quite possible that owing to restricted shipping facilities goods that were expected to arrive a year or two ago have come to hand to swell the total, but four millions extra require* 'some other explanation, and the.only ono that presents itself revolves round the fact that the prosperity -which is now being enjoyed in the Dominion has.created a demand for high priced luxuries. It is matter for regret that the ( ,vast sums of surplus mpney now lying idle in the banks, together with that represented by the outlay on non-essentials, should not be utilised in developing the resources of the Dominion and meeting the urgent need for public works, necessary to the welfare of the settlers. In ordinary times there would have been ample justification for a feeling of pride at tfhe large increase in imports, because it would have reflected the money-spend-ing capacity of the residents. It seems marvellous that a small and comparatively new country like New Zealand can import goods to the value of twenty-five and a-half millions in one year, and at the samo time export goods totalling in value over five millions more than the exports, and yet such is the case. If we turn attention to the trade of the Mot:iev Country the position h very much different, for there, during April, the exports decreased by over o million, whila the imports increased by nearly nine millions. Of course, there is no comparison between the two cases, but it is well to Tecognise how badly Britain is being hit by the war as compared with the Dominions, and the comparison cannot fail to produce material for reflection. How much more then would be the surprise of the public if, with regard to the imports, the actual selling value here were set down instead of the price at the port of shipmont; and with regard to the exports, if the value of the whola of the produce awaiting shipment was included in. the total. Stocks of dairy produce and frozen meat have been accumulating to such an extent that th-i congestion is causing considerable anxiety to producers and shippers. At the present moment the Auckland freezing works are blocked ' with frozen meat, stored butter and fruit, with little prospect of an early clearance, and the time from now to the opening of the new dairying season in August is but short, so that unless relief comes the position will be acute, for the experience of Auckland is that of othec export centre j. The Imperial Government controls the shipping and is doing its best to relieve the strain, but the fiat has gone forth that absolute essentials must have preference, hence the gravity of the situation. In the face of the enormous import trade to New Zealand it might on thought that the vessels utilised for that purpose would have sufficed to over' come, or at least materially alleviate tho stress of the exporters, but out of the total imports of twentyfive and a-half millions less than fourteen millions came from the United Kingdom, while those from Australia fell off by about half a million. One of the remarkable features of the trade returns is the evidence that is afforded concerning the great impetus given to trade with America and Japaa ice the war. The value of United

Slates imports lias risen from two to four millions, while the trade with Japan increased more than four fold ( £163,047 to £UU3,172). Both iheso countries have, like the Dominion, much benefited by conditions arising out of the war, and though they are both Allies, the question arises as to whether New Zealand is doing her part in. helping the industries and commerce 6f the Motherland. It is quite possible that in the early stages of the war there were difficulties in getting orders carried out in Britain, but industrial organisation there has now been systeMatiscd, and it will be it seri'ous blot on the Dominion if a single article is obtained elsewhere when it can be procured from the Motherland. Japan is sparing no efforts to capture trade and it is quite possible that she will be able in the near future to assist in solving the> shipping problem, but the claim of Britain must not for an instant be neglected, and it would have been matter for congratulation if the whole of our increased imports had been obtained there.