RECOVERY OF TRADE.

Taranaki Daily News, 8 September 1922, Page 4

RECOVERY OF TRADE.

SLOW BUT STEADY MOVEMENT RENEWED PROSPERITY AHEAU NEW ZEALAND’S PROSPECTS, By Telegraph.—- Press Association. Wellington, Last Night. Speaking at a farewell luncheon to* day, the British Trade Commissioner Mr. R. W. Dalton) said that in spite of the depression an analysis of New Zealand’s trade showed that of goods which the United Kingdom was capable of supplying the United Kingdom secured about 61 per cent, of the import trade in 1921, compared with 56 per cent, in 1920, 45 in 1919 and 46 in 1918. In 1914 her percentage was 67, compared with 61 last year, and he considered it would not be long before the United Kingdom’s share of trade surpassed the 1914 figures. It would be safer and sounder if conditions improved quietly. He thought there was indicated a definite and quiet improvement, which would ultimately result in the re-efltaiblishment of the pre-war sound economic health. (During the past few months a definite though slow monthly improvement had been taking place; the output of iron and steel had been gradually and steadily increasing; the coal situation had been revolutionized in twelve months, apart entirely from the effects of the American coal strike; the great Manchester trades were receiving more and more enquiries from home of their largest markets; and the woollen trade of Bradford showed a very decided im* provement. There had been no crash in the Dominion during the economic depression such as might have occurred. His own opinion was that a very definite improvement had been seen in New Zealand and very likely a further period of considerable prosperity was not far ahead. He found that during the year of severe depression in all the world’s markets the actual sales of New Zealand’s wools had been 50 per cent, in excess of the actual yearly production. There might easily be soon such a shortage of wool, owing to the reduction of flocks, as would send values up to a high level. The output of dairy produce showed an increase of nearly 40 per cent, compared with 1921.