NEW ZEALAND PRODUCE.

Taranaki Daily News, 10 September 1921, Page 2

NEW ZEALAND PRODUCE.

A SLUMP PEPvIOD.

SER T. MACKENZIE ON FINANCIAL COMPLICATIONS. NEED FOR ECONOMY. Jieturning from a visit to New. Zealand after performing the duties o' High Commissioner for the Dominion for eight years, from 1912 to 1920, the Hon. Sir Thomas .Mackenzie, G.C.M.G., K.C.M.G., in an interview, was not able to give a very glowing report of the condition of New Zealand’s produce trade at the present moment, but he was not pessimistic of the future, feeling that conditions generally, would soon right themselves, and again brings a healthy outlook. Sir Thomas said: “When I left New Zealand things ■\vere in an unsatisfactory position regarding produce, and that reacted on the whole business of the country. Unfortunately there had been a land boom, when prices had gone up far beyond economic prices of land, and people were discovering that in view of the falling market there were going to be considerable financial complications. The chief cause of all this wa's undoubtedly the unsaleableness of wool at remunerative prices. I always held it to be a fatal mistake on the part of the authorities here to place too ■high a price on the wool, thus .putting the manufactured article beyond the ability of the general public to buy, and there must be quite a season’s wool unused up which ought to have been put into use and pretty well worn out by this time. “Turning to the question of meat and dairy produce, which rank next in ■value to us, the situation is much more encouraging. Of course, we are still suffering from the hold-up of meat, and from there go much on the market this is not in prime condition. An effort should be made here to dispose of that at any cost and to get it out of the way, so that healthy trade may be restored. There is still a reasonable demand here for . lightweight sheep and a keen demand for our New Zealand lambs. Beef, we all know, does not pay to ship from New Zealand to this country just how. As an instance, a friend of mine said that he had shipped beef from New Zealand, but he did not expect the price that it would realise here to pay the charges necessary to bring iti here, irrespective, of the value of the meat itself. The question of shipping charges is one engaging the closest attention of our representatives at this end, and they are more familiar with that question than I. am at this moment. At the same time, I have been in touch with shipping people, and have heard the statement of their side of the case. The other side can only be stated after an actuarial investigation ‘by those familiar with the shipping ‘question.

DAIRY PRODUCE STILL GOOD. Dairy produce is still a good proposition. There has been a sharp recovery in value of both, butter and cheese during .this week. Before I left New Zealand a cable we received from the Old Country gave the impression that there was going to be an over-supply in thi* country. Thait I combated >on Ithe other side, pointing out the world’s statistics and the consuming powers of the cojnmunities in support of my contention that butter would be a profitable article to continue manufacturing. This has been verified.

“Speaking generally. New Zealand is going through a period of considerable financial stress, and in this respect she is much in common with other countries. I have faith that we shall pull through isl right, but our people will require to exercise much more economy than they have been doing. I saw evidence in New Zealand, which was in marked contrast with the thrift and careful' habits of the people prior to 1912. This past extravagance, combined with falling prices, has brought the present situation. “Regarding our products, I feel strongly that a better system should be adopted between this country and New Zealand for informing our producers of the position „pf markets and the giving; of forecasts as to futures.”