A PESSIMISTIC PROPHECY.
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TBIES.
(By Telegraph.—Press Association.)
CHB.ISTCHURCH, this day
Tie Lyttelton '\ELmes,' , . in an article this morning, .as.the. result of interviews with, financial men, the opinion that the remarkable prosperity enjoyed by the Dominion during the last fifteen years will receive a check this year. The article says: ''It was about 1893 when depression., which had dogged New Zealand's steps some thirteen jrears, passed away. Since then there has been an unbroken record and good prices have been general. Many who closely watch public xtuaßees believe the great buoyancy of the past will be lost, and that the Dominion will experience a short term of financial stringency which "will be very much like hard times."
The "Times" attribute this to the fall in the price of wool, representing a loss of two millions, and the raising of internal loans in the Dominion instead of in the London market, _It fears a fall in the values of land, both rural and catVj throughout the colony.
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Bibliographic details
Auckland Star, Volume XXXIX, Issue 113, 12 May 1908, Page 2
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173A PESSIMISTIC PROPHECY. Auckland Star, Volume XXXIX, Issue 113, 12 May 1908, Page 2
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