BALANCE OF TRADE.

Taranaki Daily News, 11 December 1920, Page 9 (Supplement)

BALANCE OF TRADE.

SIGNIFICANT FIGURES. 1 ' NECESSITY FOR INCREASED PRODUCTION. Some significant figures, published in the New Zealand Trade Review, dealing with Dominion imports and exports were brought under the notice of some Wellington business men by a NZ Times' reporter, and the opinion was general that there was a genuine effort to secure a long continuance of industrial and commercial activity and an .ncr ease( , prodllction , Nw - Zea]and , g fiituie would not he a particularly Btafe' ♦w', The jolin,al in -1««tioi , stated hat from the start of the war Znwl t ° f la6t 3 ' CM NeW Zeaknd eujojed a heavy excess of exports over SV" 8 Chi6fly *» tte high prices ■ realised for our produce, but alto partly to some restriction of importation, "is favorable trade balance resulted in money being plentiful, which enabled the Government, to raise a large part of their requirements for war purposes within the Dominion The average yearly exces„ of exports during the five' years ending December 30, 1919, Wftg> ~o u„ h ! Lf T milli ° nS - Duril * the cu ™t year however, imports have grown irapidly, and now exceed exports

WELLINGTON OPINIONS. WHAT OF"THK .FUTURE? ' ■Those to whom the above figures were. twLt J '.w T ?!f 3 ' re l ,orl(>r st "ssed the fact that while the excess of exForts „ver import, for 1!>I9 totalled 1!» ««• I'niw, this year imports exceeded expo t, by nearly three and a-half mill-wite-a difference of 22* millions. One leading commercial mm, said; I he figures may well cause business people-ami the public generallv, for m,T f oo " eer ? wl - t o P«««e and ask : Mhat of the future? We have had a most successful and prosperous period, the war brought many millions to New Zealand, and there has been a state of general prosperity. This related to labor, as well lls to business generally, for while the bovs were awavowr 1011.000 left our shores-there was a shortage of labor in almost everv tmU. aM witli the increased fJswpaj.

ity came increased wages: everything commenced to i'ise, until now the maximum has been reached. "It may he well from their point of view, but it is quite futile, for* the labor bodies to call out incessantly for more money for the men; the business men of New Zealand cannot do the impossible, and J maintain there must be an end to this vicious circle cult, and that the Dominion must be allowed to right itself. There must 'be more consideration and more operation, and less of the selfish spirit. This applies to all classes, and not to any particular section of the community, lint .the time has come when there must be a reckoning up, and a reversion to the former practice of assisting industries and speeding up production. Unless this is done nothing but financial chaos, and much depression—which bringh misery in its train—can be ours." The concluding paragraph of the Trade Review's article is as follows: "It is patent that there is as urgent need to restore the trade balance by straining every nerve to increase production, and to do this much more intensive cultivation is required. On the other hand, we shall have to strictly curtail our importations. If these factors receive the attention they deserve the Dominion should continue prosperous, but unless the balance of trade is restored Ave shall have "to face a period of financial stringency and depression of trade."

Year to Sep. 30. 1920 ... 1919 ... 1918 ... 1917 .. 1910 ... 1915 .... 1»H 1913 .... 1912 ... 1911 .. 1910 ..' 19O0N. IMS .... Imports. 51,371,188 Excess of Exports. •3,400,276 28,01)3,130 24,278,377 21,355,1)80 19,212,240 4,577,001 9,382,900 23,791,1:12 11,135,380 19,780,224 9,924,210 21,056,384 2-2,808.354 2,702,903 814,082 19,015,2ft] 18,011,000 Ki.101.8S0 14,910,005 1,099,304 1,300,090 5,858,978 3,784,151 •- 17,750,808 M.380,281 190" 10.071.SS7 3,819,959 190G 13,575,121 ccess of imports. 4,134,257