THE MONEY MARKET.

Ashburton Guardian, Volume XXIX, Issue 7731, 26 February 1909, Page 4

THE MONEY MARKET.

THE WAY TO J3.KTTE.It TIMES.

WELLINGTON, February 25. Speaking at the animal meeting of the Chamber of Commerce to-day, the chairman (Mr Rarkness) said that, again and again, they hntl been told that the financial stringency was a passing cloud that would drift away into unkuown regions under the genial sunshine of Dece:nher, 1908. Others had, again, asserted that m June, 1909, the prospects would be bright ; yet the cloud remained, with this difference only—the lining had a darker lino. No platitudes, no optimism, however infectious, would accomplish any marked change. What was needed was hard, honest toil, combined with selfdenial and the curtailment of extravagance. The revival of the price of wool, the steady market for frozen meat, and the phenomer.-il values of dairy produce, together with the prospoct of an abundant harvest, had saved the dominion from a disaster which was serious to contemplate. In regard to leading lines of woo], frozen meat, and dairy produce, the outlook was decidedly encouraging. It only required a steady— not a forced—development, and the country would respond with no niggard hand if its people would but be true to the best traditions of their past history.