0.—3

20

Gbjumi 7.—lnter-relations of Timber-consumption, Building Activities, Population Movements, and External Trade.

5. Timber Industry and Markets. At no time since the pre-war period lias the industry more nearly approached a rational state of stabilization, and in no year has it achieved more rapid progress towards this very desirable objective. Basically the timber trade depends upon the constructional and building industries for its domestic markets, and as these industries move in sympathy with general population movements and trade fluctuations, it follows that so must the timber trade move correspondingly. As illustrative of the inter-relations of the various factors involved, the accompanying graphs covering the period 1900-29 have been prepared. From these it will be seen that as measured by a consistent excess of exports over imports, the decade ending in 1907 was a fairly prosperous one, and that both the natural and external increase in population showed a substantial improvement as compared with the previous decade. The erection of new houses, &c., was considerably stimulated, and in 1908 wood consumption rose to a peak of 390,000,000 ft. As is usual with such trends, house-building tendedjto exceed normal requirements, and whereas the housing ratio or number of houses per 1,000 of population was at 195 during this decade, within the next decade it rose to 204. At no time since the pre-war period has the industry more nearly approached a rational state.