Agricultural Produce.

Our annual production is a far more important matter than our accumulated wealth. Far more important because there can be no doubt that if our production is satisfactory, then, no matter how poor we may be, must grow in wealth, unless we are altogether thrift, less; while if our production is not satisfactory, we must grow poor, however great our accumulated wealth. In the three principal branches of production—vix, agriculture and pasture, mining, and manufactures, we have statistics which give us a very fair idea of oar position, and, fortunately, there are even better materials for ascertaining the position of Victoria. The table illustrating the production of our agriculture is prepared on Mr Hayter's system, in order to give us as exact an idea as possible of how we compare with Victoria. The amounts of produce in both colonies are probably fairly accurate, but difficulties arise in respect of prices. The Victorian statist has prepared his list of prices from a number of returns showing the value of produce on the farm in every district of the colony. The prices are simply the average amounts that the farmers obtain; no account is taken of the value added by transport, &c. Now in this colony we have return of average prices for each provincial district, but these returns in many cases give too high a value for my purpose, as they show what the consumer gives, which is often a good deal more than the producer receives My prices then are mere estimates, they are arrived at from a comparison of the official returns already mentioned, with the average declared values of exports and with the market reports; and the results have been criticised by experts who very kindly rendered their assistance. Since the paper has been published the table of agricultural produce has not been attacked and as it needs no explanation I will merely say that the price of wheat, though it would be high for the present moment, is below the export average of 1886; and that the value of smaller crops, as to which the data were very insufficient, has been put at a figure which I believe to be considerably below the truth.

Agricultural, Produce.—1880-7.

Comparative Table on Mr Hayter's System.