The Wairarapa Daily. WEDNESDAY, SEPTEMBER 12, 1883. TRADE.

Wairarapa Daily Times, Volume 5, Issue 1481, 12 September 1883, Page 2

The Wairarapa Daily. WEDNESDAY, SEPTEMBER 12, 1883. TRADE.

Tiude throughout the colony still continues depressed, and over importation is regarded as the primary cause of the torpidity which prevails. During the past few months a check has been put on importations, which no doubt will have a good effect in bringing round a more healthy condition of affairs, hut as yet stocks have not by any means been reduced to a normal standard. During tbe first half of the current year importations as compared with the corresponding period of the previous one fell off in Canterbury to the extent of 30 per cent, in Ot&sp to 16 per cent, and in Wellington to 25 per cent, In overtrading it may be said that Otago has been reckless, Wellington more reckless, and Canterbury most reckless. All three provinces are now endeavorin,; in commercial matters to get straight, but before they float clear of their difficulties we may expect a few sharp wrenches in town mid country commercial circles. Town merchants who have been overstocked with goods havo for some time past been forcing them into circulation in the country legardless of price or security, To do this they have given undue credits to their customers which will bo with, drawn as soon as the necessity for forcing goods into the ma.ikot no longer exists. Unsound trade is being perpetuated in order to enable merchants who are overstocked to get rid of their imports. The time, however, will probably Boon arrive when the penalty for reckless trading will have to be paid, and a return to legitimate commercial operations will be preluded by the fall of those who have built up their credits on unsubstantial foundations. There are other causes at work which have contributed to the depression now existing besides over importation, Thousands of persons in this colony are trading without any capital at their backs, and thousands of persons who have money in their businesses divert it to speculative channels, Too few people are engaged in this colony in producing wealth, and too many are employed in merely distributing it. Taxation presses heavily on us for the railways we have made and the other public works which we h.ave constructed out of borrowed money. There is now an enormous drain of gold from this colony every year in proportion to its population, and we are beginning to realise that wo are paying too dear for our steam whistle. The lesson of 1878-79, severe though it was, has not been sufficient to teach us prudence, and we should not be surprised if it were repeated before trade thoroughly rights itself in New 'Zealand.

THE following is the progiamme for to-morrow :—His Excellency on his arrival at half-past'tplve on the station platform by the reception committee, the volunteersforming a guard of honor. On leaving the platform nn address.of welcome will be presented, the friendly societies, lire brigade, etc., forming a line to the station gates, The Governor will then be driven to the Club Hotel, and as soon as he arrives the public lunch will take place. The toasts on this occasion will be brief, to enable His Excellency to drive down to the Ploughing Match. A halt en route to the latter will probably be made at the schoolhouse, where the school cadets and children will be drawn up in line. It is.' expected that the return train to Wellington' will leave about half-past three, so that the time alloted to tho various features in theprogramme will necessarily be brief,