W. Samoa
p. 11 · Read in the full issue
More Prosperity For
Territory Free of Debt and Has Quarter Million Reserve
APIA, June 24.
WESTERN SAMOA still sails along on the wave of prosperity which began with the American invasion of 1942 and which does not look like abating for some time. Figures released recently show that revenue for the last financial year under review was £59,838 more than offi cial estimates.
Savings Bank deposits increased in the same period by £52.900.
Prospects for 1946/47 are even better: copra and cocoa prices have risen lately and new industries are going into opera tion.
Greatest surpluses came from the De partment of Health (where almost £B,OOO from sales of liquor under medical per mits swelled the coffers), Justice, Postal and Radio, Public Works, Treasury and Customs, The public debt which had been whittled down to £9.244 in April, 1944, has now disappeared altogether, and the Ter ritory is now not only self-supporting, but debt-free. Accumulated reserves in 1945 were over £260,000.
Copra and Cocoa Rise
THE Administration has announced that following an increased export price offered by the British Ministry of Food for the whole of the Samoan pro duction, arrangements have been made with copra merchants from June 17. to pay from 14/- to 14/6 (according to dis trict) per 100 lb. for native copra. The Government is paying merchants at the rate of £2B/10 - per ton after that date all stock on hand being taken over at the old price of £22/10/-. (The currency is New Zealand—which is of practically the same value as Australian.) First result of this rise is that Samoans all over the Territory are now cutting copra—an enterprise favoured by the sunny, dry weather we are having at pre sent.
Cocoa beans are selling from £9O to £lOO per ton according to grade, FOB Apia. In some instances, European plant ers who have sold cocoa on consignment have realised considerably better prices than this for their product.
The “Waihemo” recently left here for Auckland with 800 tons of copra and 35 tons of cocoa beans—total cargo worth £20,000; the “Parkdale Park” sailed for Vancouver on June 26 with 2,000 tons of copra (worth over £40,000).