TRADING RETURNS.

Temuka Leader, Issue 2208, 30 May 1891, Page 3

TRADING RETURNS.

(Trade Eeview.) The subjoined figures show the total values of the imports and exports of New Zealand for the past 10 years, and in juxtaposition with these the yearly averages of the totals of notes and bills discounted, as shown in the bank returns: —

The late Colonial Treasurer, Sir H. A. Atkinson, in his last Financial Statement told ua, from the evidence afforded by the property tax statistics, that private borrowing outside the celeuy ceased at the end of 1885; also that the inward flow of money from colonial borrowing came to an end with the close of 1889; in fact, that during the three years 1887-89

the colony had remitted to pay interest on its national debt more by £1,680,000 than it received in borrowed money. The effect of these operations can be traced in the totals of imports and exports. In the earlier years borrowing, both from public and private, was in full swing, and accordingly we find the imports far in excess of the exports, while in the latter years the cessation of hot rowing and the expansion of our products caused the position to be entirely, i reversed. The influx of foreign money in the shape of goods, chiefly consigned, produces, for the time, glutted stocks, disorganised trade, forced sales, unprofitable business. The community is that forced to lean heavily on tha banks. With the restoration to a more natural and healthy state ,of the import market, tte pressure is removed. It mustnot be forgotten that for the last few years the terms of credit in our wholesale market have been shortened. This took effect in the soft goods branch in the latter part of 1887, and in the general trade from July 1, 1889, and has, no doubt* materially assisted in the reduction of the volume of discount. It is, to our mind, an eminently satisfactory picture that is thus presented. The colony as a whole, both publicly and privately, is no longer leaning on the outside capitalist, and considerably curtailing; its demands for banking assistance in its own borders; while at the time it is, by the expansion of its production (justifying its public works policy), providing sufficient to honorably pay its way in the world. The Eeview gives the imports of the, colony for the four years ending March 81 last at £24.779,077, and the exports at £34,784,781, and makes the following remarks: — In the volume of trade these figures are striking and interesting. They shew that our exports fer the four years have exceeded bur exports for tha same period by over £10.000,000. Of general merchandise we have shipped more than we have imported by £7,283,785, in addition to gold of the colony’s production to the amount of £38,123,826. Of this value we have received back in coin £401,857 more than we have sent away. A remarkable fact in connection with ibis last point is that tbe average amount of coin held by the banks in the March quarter of 1891, only exceeded the average for tbe similar quarter of 1887 by £55,727, the respective amounts being £2,268,688 and £2,212,911.

Bank . Import b. Exports. Discount. 1881. .. £7,457,045. £6,060,866 £4,218,559 1882 .. . 8,609,270 6,668,008 4,520,816 1883 .. . 7,974,038 7,085,999 4,673,895 1884 .. . ' 7,663.883 7,091,667 4,365,216 1885 .. . 7,479,921 6,816,989 4,419,107 1886 .. . 6,759,013 6,672,791 4,406,395 1887 .. . 6,245,515 6,866,169 3.604,937 1888 . . 5.941.900 7,767.825 3,171,896 1889 „ 6,808,863 9,341,864 2,850,944 1890 .. . 6,205,777 9,832,934 2,524,573