Present Position.

Extent of Trade.—A sketch of the present position of the trade of New Zealand is practically a recapitulation of the statements already made. It is therefore unnecessary to do more than refer to the diagrams and give a few leading facts and figures.

For the 10 years ending 1875 the Imports averaged £5,767,717 and the Exports £4,980,458, and for the ten years ending 1885 the figures are: Imports £7,635,501 Exports £6,383,893. This is the value in the Colony of both Imports and Exports, but if the value is taken in the producing country the Imports will be reduced by 10 per cent. On this basis we have for the last ten years sent £100 worth of our products to other countries for every £107 worth they send us.

Returning to Colonial values the greatest difference between our imports and exports was in 1863 and 1864, the goldfield years, when the imports exceeded the page 32 exports by £3,539,269 and £3,598,988, more than double; and again in 1874 and 1878, when the figures were £2,873,543 and £2,739,963. The only years in which there was a balance on the other side are 1870, 1871, 1872, and 1880, when the exports were from £47,714 to £1,203,891 in excess of the imports.

During the five golden years ending 1866 the imports exceeded the exports by £12,598,153. It is curious to speculate how these imports were paid for, as there was very little borrowing publicly or privately in those days.

The diagrams show extraordinary fluctuations in the import trade. Leaving out the goldfield years, when it went up £5,476,341 in a single bound, which is easily accounted for, there have since then been several ups and downs—the rise from 1871 to 1874 was £4,043,619, and the fall from 1878 to 1880, £2,593,652. I suppose these fluctuations are attributable to "over-importing," the cause, according to popular tradition, of all the ills to which commercial New Zealand is subject. The export trade, on the other hand, is remarkably steady. Since the first jump up in the goldfields' years the fluctuations on either side of the average line have never reached £500,000.

Nature of Trade.—At present about 20 per cent, of our imports are eatables and drinkables, and 40 per cent. clothing and household requisites. Of the exports 72 per cent, are pastoral and agricultural products, and 14 per cent, come from the mines.

Comparing our exports with those of the other Australasian Colonies, we find that in food preparations New Zealand holds a foremost place, and in the matter of frozen meat, she exports four times as much as all the other Colonies put together. She has also a speciality in kauri gum. On the other hand Victoria exports nearly four times as much leather, and the tin and copper exports of New South Wales amount to about a million annually. South Australia of course greatly exceeds all the other Colonies in the exportation of grain.

Another point worth noticing is the extraordinary way in which the other industries took up the running as the gold exports gave out. Since the first great shove, gold has contributed little to the gradient of settlement. The gold line is falling nearly as fast as the other is rising.

Interchange.—About 70 per cent. of the trade of New Zealand is with the United Kingdom, and as might be expected there is more reciprocity between her and the mother country than in any other case. During the last ten years the balance of trade between England and New Zealand has only averaged £5157.

Our next largest transactions are with Victoria which gets about 12½ per cent, of our trade, but in this case there is less reciprocity. The Victorians only take £100 worth of our wares for every £160 worth they send us. Furthermore what we send is mostly gold, and what they send is not their own products but the manufactures of other countries. The trade with Victoria has fallen off greatly since the establishment of the direct steam service.

The trade with New South Wales, although rapidly increasing, is still somewhat less than that with Victoria, but there is far more interchange of commodities. New South Wales is one of our best customers; she takes large quantities of our produce, and a fair share of our manufactures.

Manufacturing Industries—The details of the Industrial census taken in March last, are not yet published, but the Registrar-General has kindly furnished me with the following general results, together with the corresponding figures for 1881:—

The value of the raw materials used up in manufactures proper is about £2,000,000.

The proportions of the population engaged in manufactures in other countries are—Great Britain, 24½ per cent; Belgium, 17¼; Prussia, 13; France, 12; and the United States, 7½.

A further comparison of the Industrial position of the Colonies is made in the number of persons engaged in leading manufactures:— page 35

	N.S. Wales.	Victoria.	New Zealand.
Grain Mills	662	869	448
Sugar Manufactories	2190	—	—
Sugar Refineries	172	200	27
Confectionery	414	359	110
Jams, Sauces, &c.	138	466	251
Coffee, Spice, &c.	34	310	149
Moat and Fish Preserving and Salting
	432	376	1097
Cheese Factories	____	96	110
Breweries	788	955	475
Aerated Waters, Vinegar, &c.	1043	1050	291
Woollen Mills	312	814	867
Clothing Factories	2265	5317	1269
Tanneries, Fellmongeries, &c.	1951	1863	1093
Boot Factories	2289	4165	1654
Soap and Candles	163	438	204
Saw Mill and Wood Factories	4247	4333	5042
Furniture	421	1708	739
Carriage Building	1936	2204	664
Agricultural Implements	341	1152	336
Engineering and Metal Works	3500	6163	2031
Glass, Chemical, and Manure Works	162	372	80
Rope Factories	128	449	242
Ship and Boat Building	1004	42	174
Paper Mills	100	180	37
Total Persons employed in Principal Industries	24,692	33,881	17,390

Deducting the sugar manufactories, which are a speciality, this table shews that with few exceptions New South Wales is far behind Victoria in leading manufactures, and that she is also surpassed by New Zealand in a few of the more important industries.

General.—This concludes my sketch of the history and present position of the trade and industries of New Zealand, and I claim to have shewn that the handful of people who constitute the pioneers of this infant nation have skillfully initiated and are zealously and successfully carrying out the "heroic work of colonisation."