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Gisborne Times, Volume XXVII, Issue 2474, 13 April 1909, Page 4

NEW ZEALAND PRODUCTS. The farmers of the Dominion have been subjected to many vicissitudes during the past eighteen months. Prior to this values of our raw products were almost uniformly high and the seasons on the whole were moderately good. Then came the disastrous slump in t-lic wool market which brought down one of the chief sources of revenue by nearly fifty per cent. Fortunately this all important staple has since gradually recovered a place which, though not on a level with former values, must still be. considered as satisfactory, but the position with regard to other products is still somewhat discouraging. The hemp market, which slumped so badly that many mills had to close down, is still very low. A couple of years ago good quality hemp was worth £3O a ton, to-day it only commands *£23, and unless some improved process can be discovered whereby the material cau be produced more cheaply it is hard to see how the industry can maintain its position as one. of our main sources of revenue. Mutton, too, is in a more depressed condition than it has boon for years, and the latest report from*the High Commissioner to the effect- that Canterbury mutton is worth only 3Jd per lb, and North Island 2?d is really alarming. The fact of the matter is that the competition of Australia and the Argentine is being severely felt, a:, .more im.-H-.rtanU. I.— . '.T.nwißLfi'wmwjn 1

tho poverty of the masses in England who, under the present depressed conditions ca-nnot afford to buy our meat. The fact that excellent climate renditions have permitted exeept'.uja !y large exports to be. made, whilst st tiefactory iu itself, has a so the effect of producing a glut in an already depressed market with the natural result of still lower prices. Even lamb, in which tho excellence or the Dominion article enables us to overcome the competiton which is so strong in other lines has fallen of late. On February —f th Messrs AVeddel and Co. reported Ca ■ terbury lambs at si, and to-day they are as low as 4|d. On the former date North Island lambs were quoted at s£d, now they are down to 4sd. On top of this comes the news that the butter market, which was the one bright spot on the commercial horizon when things were at their worst,i has also slumped, and butter which was worth 12|d early in the season wall only command 9|d. This is a very marked reduction and it is sincerely to bo hoped that the slump will not prove of long duration. The season just closing has been almost a record one so far as the podigality of soil and climate is concerned, but the benefit of this over abundance of products seems likely to be seriously discounted by the unsatisfactory condition of the .Home markets.