Page:The New International Encyclopædia 1st ed. v. 14.djvu/614

* NEW ZEALAND. 522 NEW ZEALAND. part of the country to anuther. Considering the smallness of the population, the foreign coninierce is hirge. In I'JOO, Gl(j vessels entered New Zeahmd ports, with a tonnage of 854,t)32. Of these 372 were from the Commonwealth States, 83 from the United Kingdom direet, and llil from other eountries. The total tonnage has more than doubled sinee 1881. The value of im')ort3 increased from £U.-2U.523 in 18'J0 to £10,U4(i,0yij in I'JOO. and the value of exports increased during the same period from i'J.Sl 1,720 to £13,240,101. Almost the whole of the imports is for home consumption and the domestic exports are of domestic origin. Xearly three-quarters of the total exports are eontrilmled by the agricultural and pastoral industries, wool being the largest item, followed by frozen meat, butter and cheese, and grain. The export of frozen meat began in 1882 and increased steadily until 1900. when it was estimated at £2,123,881, almost the whole of which went to England. Cold and kauri-gum are also im])ortant exports. Al)Out three-liftlis of the imports arc from the I'nited Kingdom, and over three-fourths of the exports are to that coun- try. In the trade of the colony the Australian States rank second and the United States third. The imports from the United States are much in excess of the exports to the United States. Auckland, Wellington. IJlulV Harbor, Littleton, and Dunedin are the largest ports. BaiNK.s. Owing to the active participation of the colonial Covi-rnment in the economic life of the comnuinily, the liehl of ])rivate banking is a comparatively limited one. In 18fl0 there were five commercial banks, and in I'JOO the same number. The deposits have increased from £343,- 310 in 1857 to £1.5.570.610 in 1900. Of the five banks two are New Zealand institutions proper and the other three arc branches of the .Vustra- lian banks. The Bank of Ni-w Zealand is the mo>t important institution and is semi-govern- mental in its nature. Four out of the six direct- ors are (according to the act of 1898) ajipointcd by the fiovernnient. which is both a heavy share- holder and depositor. Of the total deposits this bank has almost 50 per cent. The whole amount of loans ma<le by all five banks in 1900 was £12.- 084,744, of which 30 per cent, were made by the Hank of New Zealand. These five banks are also banks of issue. Their notes are not legal tenders, but can be made so for a limited time by a proclamation of the Covernor. In 1860 there were six private savings banks. These still ex- isted in 1900. with 31.475 depositors and £855.- 792 deposits: but the law of 1867, which estab- lished the postal savings system, prohibited the organization of other ]irivate savings banks. Forty-six banks were established under the postal system in 1807. and in 1900 there were 445. The number of accounts increased from 2150 in 1807 to 197.408 in 1900. and the sum of dep<i.-its from £71.197 to £5.809.5.52. Nearly every family has an account. The public trustee does the work usually done in the t"nited Slates by the private trust companies. Also, the land registration ofTiees compete with the private banks in holding real estate mortgages. The high development of the cooperative s|)lrit in New Zealand has also made the buildinj; societies and frien<lly societies successfil. The cnvem- mental iniurance system attracts a considerable amotint of the people's savings. Government. The Parliament 13 composed of two bodies, the Legislative Council and the House of Representatives. The former consists (1902) of 44 and the latter of 80 members. They hold ollice for seven years except such as were elected prior to September, 1891, who hold for life, as all members did before that date. There are 80 mem- bers in the other House. They are elected for three years. All registered adults of either .sex who have resided in the colony one j'ear and three months in the electoral district can vote. There are four native ilaoris in the Lower House, elected by the adult (male and female) native population. The administrative function is in the hands of a Gov- ernor, appointed by the Crown, and the Ministry of eight members. The tiovernor has the power of veto over bills or can sulnnit bills for con- sideration. He summons, prorogues, and dissolves Parliament. For ])ur|Hises of local government the country is divided into counties and boroughs, road districts and town districts. Fi.vANC'E. The participation of the Government in industrial activities resulted in large annual receipts and expenditures anil in a heavy debt. The receipts from taxation increased from £1.755,- 414 in 1880-81 to £3,042,890 in 1900-01, and re- ceipts from other sources increased during the same jieriod from £1.529,028 to £2,804,020. In the fiscal year ending in 1901 the receipts from the custoius amounted to £2.180.802, being the most important single source of revenue. In the same year the receipts from the railroads were £1.720.041 ; frinn stamps, including |)ost and tele- graph, £903,935; from land tax, £294,584; and from the income tax, £173,809. The total ex- penditure increased meanwhile from £4.019.850 to £5.479,704. and the public delit from £28.185.711 to £49.591,245. There was a sinking fund in 1901 of £1.033.494. The largest items of expenditure are the public debt charges, £1.745,610, and rail- ways, £1,144,832. Other important items are education. £481.087; post and tidcgraph. £410.- 304: and the constabulary ami defense. £347.448. The rate of increase of the debt of the colony has not been nearly so rapid as that of its wealth. Dkfexse. All the principal ports are stningly defended by means of batteries, torpedo-boats, and submarine mines. All males between seven- teen anil forty years and unmarried men between sev<>nleen and forty-five are liable to military service. In 1901 there was a volunteer force of 17.000 men. Sr.vTE .CTIVITIES. New Zealand has become well known because of the various ways in which the functions of the State have been extended. The tendency in this direction was well devel- oped prior to 1890, but became especially marked about that time. The movement has been the outgrowth largely of the inlluence exerted by or- ganized labor upon legislation. The power of this element has been exercised through the exist- ing political parties, and not tliroiigh the agency of any |)oliti<-o-socialistic organizations such as have generally sought to ailvancc radical niovc- menls in other countries. The experiment, for instance, has been made of preventing strikes and lockouts and adjusting questions at issue between labor and capital by compulsory con eiliation and arbitration. Provisions are made I 1 t reached the question can lie carried to the cen- tral court of arbitration. The decision made eiliation and arbitration. Provisions are made 1 by which either employers or trade unions may f bring the dispute before a board of concilia- j tion. and if a satisfactory aL'reement is not (