Our Future Prospects,

and the means by which we can assist to improve them.

Increasing our facilities for inter-communication, is an efficient mode by which we could foster and extend our commerce. The growth of trade in any country, may be taken as in direct ratio to the means of communication provided. There is nothing that tends more quickly towards improving the trade of an exporting country, than rapid transit and cheap freights. In countries where there are few railways and very little water communication, intercourse is restricted, and the benefits of labor are hardly felt, while comparative poverty prevails. But introduce facilities for intercommunication, with cheap loco-motion, to any country which has great natural advantages, and that has an industrious population, and it is like breathing life into so many statues. Give them the use of railways, roads, telegraphs, telephones, and steamships, and the torpid population developes into action and vigor.

The efforts that have been made to secure the construction of the railway to the West Coast, are too fresh in your minds to warrant my taking up your time with any new argument in favor of this important work. Suffice it to say, we need it, and although not prepared to entertain the extravagant terms asked by the English Syndicate, we should not relax our efforts to have the line constructed without un-reasonable delay, and we ought not to hesitate in expressing our dissatisfaction with the dallying proposal in the Public Works Statement now before the House.

We recently asked the Government to subsidise a direct steam service to Queensland. The importance of this market, as a fresh "channel for employment" for our surplus products, appears to be scarcely realised. It was very justly pointed out at a late meeting of the Chamber, that facilities for communication, with consuming markets are every whit as necessary as local railway facilities, as although the latter cheapens the cost of production, they cannot benefit us fully, without we obtain at the same time means of regular communication with our customers. I will not take up much of your time in dilating upon the many advantages, which Queensland offers as a customer for our products, but I may be permitted to refer to the following figures, as showing the rapid growth of a market that is so close at hand. In 1860 her population was 34,367; in 1870 it was 109,897, in 1880 it had increased to 226,077, and it is estimated this year at 320,000. The regular direct steam communication with Sydney, enabled us to export last year £714,916 worth of our produce to that market; but to Queensland, although she should relatively provide a far better outlet for us, our shipments for the same period only amounted to £58,259. It appears almost like wilful negligence to leave such a splendid field almost entirely to the enterprise of the Southern Colonies of Australia and Tasmania. Without direct steam communication, it is impossible to develop a regular or large trade, as we cannot hope to divert business from old channels, without we can supply our customers' requirements with punctuality and dispatch. It would doubtless take a year or two to firmly establish extensive commercial connections, and we can scarcely expect a private Steamship Company, at its own risk, to start and continue a regular service, and bear the burden of initiating it, simply because it would be a great colonial benefit. It is true that this Company has laid the s.s. "Taupo" on the berth for Brisbane, but we need a boat to run up the coast of Queensland, say to Brisbane, Maryborough, Rockhampton, and Townsville; and enterprising as the Union Company have proved to be, they evidently dare not face the loss, that would doubtless be made while initiating a trade with the several Queensland ports. A small subsidy, however, would be money well spent, upon what may fairly be termed a reproductive work, and it will be a short-sighted policy if the Government neglect the opportunity now offered, of making a cheap arrangement with the Union Steamship Company.

Your Committee have reported upon many of the advantages accruing to the colony, from the two direct steam services to the United Kingdom, and I will not further enlarge upon the subject, beyond referring to the satisfactory inflow of capital which they are the means of introducing, by bringing here each voyage so many well-to-do immigrants.

In further considering what steps may be taken to remedy the existing depression, it appears to me that no problem can more fittingly engage our attention than that of immigration. We must not restrict cur production, but develop it further, and as there is little to be done in creating absolutely new markets, we should consider how best to develop a home consumption. I may be pardoned for again mentioning, that our foreign trade is not altogether an accurate test of the progress of the colony, and although our exports of late years, have undoubtedly increased, I page 24 do not think the ratio of increase has kept pace with what it should have done, considering the large amount of money that has been expended upon public works. The fact is, our population is not sufficient to utilise these works profitably, and we need to attract suitable settlers, to obtain the full advantage the colony should derive from its extensive system of railways and telegraphs, in order to get a fair return upon their cost. From the interested view of the taxpayer, anxious to be relieved from the present burden, if from no other, we should avoid delay, and take steps to introduce a steady stream of immigration, and if this were done, we should find that concurrently with it, an ample supply of capitalist settlers would be attracted to our shores, who would aid us in employing the additional labor, as well as help us in our work of colonisation.

Another means of assisting to remove the depression, would be to modify the system of farming that has hitherto been so generally followed. The cultivation of wheat has been pursued too exclusively, and now that it is seen, that it cannot invariably be relied upon to yield a profit, farmers are wisely combining pastoral and dairy with agricultural pursuits. Our great distance from European markets, and consequent heavy expenditure for freights; the cost of labor here as compared with its cheapness in India, the difficulty, if not impossibility, of introducing the elevator system, which has done so much to lessen export expenses in America, are all against us. We should no doubt continue to grow wheat, to a greater or lesser extent, but in future, every expedient known to scientific farmers should be adopted, and no dependence placed upon the climate, to absolve us from the effects of negligence, and lack of foresight in not providing against being caught by rain at harvest time.

It is satisfactory to notice, that farmers are turning their attention to raising pigs, and I am convinced, that as curers adopt the most improved appliances, they will be enabled to find wider markets, and that hams and bacon will become one of our most satisfactory exports. As time progresses, we shall also find that smaller farms, will ultimately prove more remunerative, than the larger areas of land that are now so generally held. With moderate sized holdings, upon which dairying is combined with grazing and agriculture, we shall have made a more prosperous community, and consequently an enlarged basis, for supporting the taxation that is inevitable for many years to come.

In looking over the prospects which the immediate future appears to present, it is satisfactory to observe, the steady manner in which local industries continue to be developed, but they meet with many draw-backs, and scarcely receive the support they are entitled to. If colonists made a rule of using locally manufactured articles, in preference to purchasing imported goods, at any rate whenever they are obtainable at the same cost, they would materially assist in developing the manufacturing industries, and in thus helping their neighbours they would be helping themselves. The most economical manner, in which the Government can afford incidental assistance to local industries, is such a debatable subject that I will refrain from referring to it. It must, however, give general satisfaction to learn from the Public Works Statement, that so large an amount of railway plant is now being manufactured locally, and as our future prosperity depends as much upon the progress and success of our manufactures, as upon our agricultural, pastoral, or mining pursuits, we should not omit any opportunity of encouraging them by every legitimate means in our power.

We might also endeavor to increase the output of our goldfields. I have already explained that if a greater abundance of gold were produced throughout the world, there would be a tendency to a rise in the price of all other commodities. As, therefore any increase in our production of gold, would add to the world's supply, such an increase would have a tendency to raise the price of our exports, and consequently, both the yearly interest to be pa d by us to our bondholders, and its pressure on us as taxpayers, would be diminished in proportion to the advance in price of the articles we ship in payment of our interest.

We hear a great deal about the critical position of the colony, but there are many other proofs than those I have already adduced, that should be patent to every one who looks around him, that New Zealand is not retrogressing, Every year, the colony is visibly and tangibly adding to her material wealth, by the construction of new railways, new harbors, new docks, new factories, new houses, and by the transition of large areas of land from a state of nature to a state of cultivation. In ten years, from 1875 to 1884, our population has increased, from 341,860 to 564,304. and food, clothing, lodging, and all descriptions of both luxuries and necessaries of life, are more cheaply and abundantly supplied to them than before. In the face of these facts, it is impossible to believe that the wealth or capital of this country is diminishing.

We may also bear in mind that there is a limit to the supply of cultivatable land in the world, while the world's population is fast increasing, and therefore using up that supply, hence, as the demand becomes greater, while the supply remains stationery, a proportionate rise in value is always taking place. We may further look to the certainty of a gradual reduction in the rates of interest hitherto current in this colony, and as the rates here more nearly approximate these ruling in England, so will the capital value of our public and private lands increase.

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As the commerce of the world is at present conducted, we may not be able to entirely control the tide of our trade, which ebbs and flows more or less irregularly; but I trust sufficient has been said to show, that even when the tide is at its ebb, and we are consequently suffering from a wave of depression, at least we can mitigate its effects, by a prudent but progressive management, of the external and internal commerce and manufactures of the country, which are within our own grasp.

Doubtless many mistakes have been committed in the past, and a large amount of public money has been squandered upon unproductive works, while our public and private expenditure has been extravagant. We have thus created a heavy debt to non-residents, the burden of which will be felt for many years to come, and we need wise and liberal legislation, together with strictly economical management of our public and private affairs, to enable us to meet without difficulty the interest on this indebtedness.

There are, however, many signs around us, of a determination in both commercial and domestic circles, to practice rigid economy, until the crisis we are passing through is a thing of the past; and there are good grounds for believing, that this economy has already borne fruit. We may, therefore, fairly hope that now we have resolved to live within our means—let those means be never so small—we shall shortly cease to feel that any pressure exists; and could we but induce each successive Government, to be equally economical in administering the affairs of the State, and at the same time to confine the expenditure of borrowed money to strictly reproductive works, we might indeed hope that the present cloud would soon pass away.

In conclusion, I may add, that although I do not shut my eyes to the fact, that the low prices which have ruled for so long a time past for our chief exports, of wool and grain, have given a serious check to the rapid progress the colony was making a few years ago, I cannot believe, that a magnificent country like Now Zealand, which contains within itself all the essential materials for creating wealth, can suffer permanently, let the depression in the rest of the world be never so obstinate.

We have a climate and soil unsurpassed in the world, for the production of all descriptions of animal and vegetable food. We have enormous forests of magnificent timber. We have an inexhaustible supply of valuable minerals, in the shape of gold, silver, copper, coal, &c. Our pastures teem with flocks and herds of highly bred sheep and cattle. We have the healthiest of climates, as our death rate will show, and we never suffer from droughts or plagues, and last, though not least, we have an intelligent and industrious community, in fact, every element that represents material wealth.

How, then, with this superabundance of food, with these valuable minerals, and in-exhaustible supply of raw material, suitable to carry on almost every known manufacturing industry, can we, if we are loyal to ourselves and to our adopted country, have any fear of the future?

[Applause.]

Mr Joseph Gould said, in rising to second the adoption of the report, he need not say much, as the Chairman had treated the subject most exhaustively. On the subject of the depression, he might say that in the countries he visited, especially in America, the struggle for existence was awful. Throughout the length and breadth of the United States not only had the farmers to work early and late, but their industries were in a most depressed state. They also limited their out ut of production. Whilst in Chicago there was a meeting of the ironworkers, who resolved not to go beyond 33 per cent, of their power of production. The farming industry also, out West, was most depressed, and he was glad to find the farmer here in a much better position than in the countries he had visited. What had struck him was that their people here earned their money far more easily than in other countries. As he had said, he was glad to find, when he came back, that compared with other countries their farmers here were in an excellent position, and were enabled to make money. [Cheers.] While he looked forward to better times he felt this, that even were matters to remain as they now were, their people would be better off than the people in many of the countries of the world. [Hear, hear.] He seconded the adoption of the report.

The motion was put and carried unanimously.

Votes of thanks were then passed to the retiring President (Mr John Cooke), the retiring Committee, the Auditors, and the Scrutineers.

Mr Matson brought under the notice of the Committee the desirability of electing the members of the Chamber. They had come there that day to hear the address of the President, and here he desired to say that this was an address reflecting the greatest possible credit alike on the Chamber and the city. [Cheers.] It was a marvellously creditable production, and he said that their President that day was entitled to their best thanks for his able address. [Cheers.] He now begged to move the following resolution:—"That in the opinion of this Chamber the incoming Committee be requested to take into consideration the question of the system whereby the officers are nominated and elected, the rule which at present obtains I having many objections. This meeting page 26 therefore hoped that the Committee will devise some other method which would meet the approval of the Committee."

Mr D. Caro seconded the motion.

The President said he felt sure that the Committee would do all they could to improve the system of election, but he desired to point out that the notification of the nominations being due had been published in the local papers in the most prominent part. At present he must say that he failed to see that Mr Matson's resolution would effect any great change, as each member had now a right to nominate members for all the offices, and no less than seventeen members had been nominated for a Committee. He certainly could not conceive a more comprehensive system than the one now in force.

Mr Weston supported the resolution, as he thought it would be far better that the nominations to the various offices should be made in the room at the time of the annual meeting.

Mr Chrystall moved as an amendment—"That written notice be given in future to each member of the date of nomination of officers one month before the period."

Mr Roper seconded the amendment.

The President point d out that the system now carried out by the Chamber was the one obtaining in connection with the joint stock Companies in the city.

Mr C. W. Turner felt that it was the fault of the members themselves and not the rules. The real remedy was that the members themselves should take more interest in the work of the Chamber. [Hear, hear.] He trusted the resolution would be withdrawn.

Mr Pickering felt that no great harm would be done if the Committee considered Mr Matson's resolution. There was far too little interest felt in the affairs of the Chamber by the members themselves.

After some further discussion, in which Messrs Murray-Aynsley, A. C. Wilson and Banks took part, Mr Matson obtained leave to put his motion in the following form:—"That in the opinion of this Chamber the Committee be requested to take into consideration the question of the system whereby the officers are nominated and elected"; and in this form it was carried.

Mr Turner moved a vote of thanks to the Chairman.

Mr Banks seconded the motion, expressing his high appreciation of the able address given by him, which would be of great service alike to the Chamber and the colony.

The meeting then terminated.

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