The Daily News. SATURDAY, SEPTEMBER 10, 1921. REGAINING STABILITY.

Taranaki Daily News, 10 September 1921, Page 4

The Daily News. SATURDAY, SEPTEMBER 10, 1921. REGAINING STABILITY.

The figures printed in another part of this issue relating to imports and exports are very interesting, and show that New Zealand is steadily getting back to a sound trading position. The imports for July were down to £l,856,000, compared with £5,143,698 for July of last year. The exports for the month totalled £4,959,000, so that the trade balance in our favor was over three million sterling. The imports for the seven months, however, were slightly greater than for the same seven months of 1920, but a perusal of the figures shows that in January, of this year the peak was reached, and there iias since been a steady decrease, which no doubt will be maintained, for the importing now being done is confined to essentials. Generally speaking, the country. is fully stocked, due to the filling of old and forgotten orders during the past nine months, and the country will be able to live to a great extent upon its stocks for some time to come. Concurrently there is, despite the collapse in the meat, and wool markets, an increase in the value of the exports. For the seven months of this year they amounted to £32,169,802, as against £27,094,698 last year, an improvement of over five million sterling. This is very gratifying. With a continuance of the movement of imports and keeping up onr exports, as seems likely, the financial position must soon substantially improve. It is interesting to note that the total value of exports for the year endued last July was £51,517,000, a wonderful result considering how some of oui" products have slumped. Dairying is, of course, mainly responsible for this very fine position, and it looks as if it is going to save the situation again this year. We are indeed a fortunate country. We are inclined to regard ourselves as very hard done by because some of our primary industries were so hard hit by the world depression. We had had a long and unbroken period of good .prices for all products, and could hardly understand that they could be subjected to any violent decline as was the case, but compared with' other countries we well off, for no sooner do the prices for one product fall than prices for others increase. At the present time the value of our exports is pi-actically double that of pre-war days, so we cannot complain on the score of our naI tional income. It is our expenditure that has been at fault, and that is in process of rectification, las the marked fall in imports

shows. With a reduction in the cost of administration, and a consequent lowering of taxation, which is pressing heavily upon the community, New Zealand will soon be in a strong and comfortable position again.