The value of the trade is shown in the accompanying table : In 1903 the imports amounted to 12,788,6751.; exports 15,010,3787. (dairy produce 1,513,065l.; gold, 2,037,8321.) The quantities and values of imports are obtained from Customs entries verified by invoices and, where necessary, as with goods subject to an ad valorem duty, by examination. For exports the 'free-on-board in New Zealand' value is given; but, as regards the main items, the Collector of Customs examines carefully the amounts stated, and compares them with current price lists, to prevent any over-estimate. Goods trans-shipped at a foreign port, are regarded as imported from the country where they were originally shipped, and exports as destined for the country where it is intended to land them. countries named, however, may not be those of origin or destination, as no attempt is made to trace the goods beyond the ports disclosed by the documents presented to the Customs. Very little cargo in transitu passes through New Zealand. The The values of the principal imports and exports in 1903 are shown in the following table : : The expansion of the export trade in wool, frozen meat, kauri gum, butter and cheese is shown in the following table :— The total value of gold entered for export from New Zealand to December 31, 1903, was 63,149,1477. The gold exports for the last 10 years were as follows: Most of the mining is done on Government land. The following table shows the value of trade with different countries for four years:— United King. 6,504,484 6,885,831 6,851,452 7,512,668|| 10,259,342 9,295,375 9,450,648 11,345,075 States 1,776,978 1,979,320 1,715,295 2,154,966 1,858,582 1,993,831 2,684,350 2,233,996 183,401 157,451 159,213 9,416 13,577 45,199 66,396 160,193 10,196 2,162 5,033 57,907 458,796 520,217 489,964 669,649 463,047 859,155 792,244 538,525 Totals. 10,646,096 11,817,915 11,326,723 12,788,675 13,246,161 12,881,424 13,644,977 15,010,378 The value of the total trade (imports and exports) for five years at each of the principal ports is given as follows: The commercial intercourse, exclusive of gold, between New Zealand and the United Kingdom is shown in the following table, according to the Board of Trade Returns, for five years : The principal imports into and exports of British products from the United Kingdom from and to New Zealand in recent years were as follows: - In 1903 the registered vessels of the colony engaged in both foreign and coasting trade were 335 sailing vessels of 43,897 tons (net), and 235 steamers of 62,722 tons; total 570 vessels of 106,619 tons (net). The following statistics show the shipping inwards and outwards for five years: Tons 1899 1900 1901 1902 1903 573 965,598 638 1,089,179 No. No. Tons 807,866 825,275 1,075,906 546 956,865 553 1,040,778 Of the vessels entered inwards in 1903, 145 of 455,741 tons were British; 403 of 478,419 tons colonial; and 69 of 167,904 tons foreign. Of vessels out wards, 141 of 462,122 tons were British; 401 of 485,337 tons colonial, and 66 of 165,706 tons foreign. For the year 1903, the shipping at five principal ports was as under :— For On March 31, 1904, there were 901 miles of Government railways open for traffic in the North Island, and 1,427 in the South Island, besides 113 miles of private lines-2,441 miles in all. They have a gauge of 3ft. 6in. that year the revenue from Government railways was 2,180,6417., and the expenditure 1,438,7247., surplus 741,9177., the expenditure being 65.98 per cent. of revenue. The total expenditure on construction of all the Government lines open, and unopen, to March 31, 1904, had amounted to 22, 173, 2201. In 1903-04 the tonnage of goods carried was 4,072,576, and the passengers numbered 8,306,383. The private line of the Wellington and Manawatu Railway Company is 84 miles long. The capital cost of construction and equipment to February, 1904, was 805,4467. The gross earnings from traffic for the last financial year were 122, 1837., and the working expenses 63,6821. All the chief towns of the colony are provided with tramway systems worked by electricity, horses, steam-motors, or cables. POST AND TELEGRAPH. In the last five years the Post Office received and despatched the following correspondence :— Years Letters Letter Post Books and News- Money Orders Paid 245,377 No. No. No. No. No. Issued 1899 37,380,671 1,103,700 1,643,051 17,883,208 15,717,388 344,664 1900 38,662,296 1,236,183 1,908,515 17,948,858 17,045,715 369,834 265,178 1901 51,544,265 1,023,295 1,522,377 18.074,508 18,973,632 405,967 283,114 1902 56,689,256 1,025,375 1,302,167 18,917,994 18,517,276 367,207 286,369 1903 60,512,647 1,174,810 1,453,463 19,895,363 19,696,434 396,312 304,347 The receipts of the Post and Telegraph Department, including commission on money orders for the year ended March 31, 1904, amounted to 580,7717., the working expenses for the same period being 526,7477. The officials numbered 4,454 on March 31, 1904. The telegraph system is entirely in the hands of the Government. On March 31, 1904, the colony had 7,779 miles of line and 22,920 of wire. In the year 1866 there were 699 miles of line and 1,390 of wire. The number of telegrams despatched during the year ended March 31, 1904, was 4,965,197, of which 4,671,904 were private and Press messages. The telephone is very generally used, and is also in the hands of the Government. On March 31, 1904, there were 12,105 connections. The capital expended on the several telephone exchanges up to March 31, 1904, was 241,9031. The telegraph and telephone revenue for the year 1903-1904 was 237,5647. Money and Credit. There were, in December, 1903, five banks of issue doing business in New Zealand. Two of these were wholly New Zealand institutions, having a paid-up capital amounting to 750,0007., besides which the Bank of New Zealand has 1,000,000l. of 4 per cent. guaranteed stock. The total average liabilities of all five banks for the last quarter of the year 1903, in respect of New Zealand transactions were 20,361,9947., and the average assets 20,580,3877. The average amount on deposit was 18,788,8721. The value of the notes in circulation of these banks was 1,466,2791. The post-office and private savings-bank business has been progressive during the last five years :— Agent-General in London.-Hon. W. P. Reeves; Secretary, Walter Kennaway, C.M.G. Attached to New Zealand are the following islands: Auckland Islands, 50° 31′ S., 166° 19' E., 200 miles S. of Stewart Island. Area of largest about 330 square miles. Uninhabited. The New Zealand Government maintains a depôt of provisions and clothing for the use of shipwrecked mariners on the largest island of the group. Are Chatham Islands, 43° 50′ S., 177° W., 536 miles E. of New Zealand. 375 square miles; population (March 1901) 419 (207 Europeans and 212 Maoris and Morioris); 66,000 sheep, 450 cattle. The Cook and other South Pacific Islands were annexed to New Zealand in June 1901. They lie between 8° and 23° S. lat., 157° and 170° W. long. The Cook Islands and the other islands with their population are as follows :— |