CHEAPER MONEY.

Auckland Star, Volume XLIV, Issue 185, 5 August 1913, Page 7

CHEAPER MONEY.

EASEEK TENDENCY IN LONDON. A PLENTIFUL SUPPLY. (By Telegraph-—Own Correspondent.) WELLINGTON, Monday. Sir Joseph Ward regards the present tightness of the money market as only temporary. In the course of his speech at a prrblic reception this evening he said: — "The money market nray have been tight and it may be tight now, but the tendency lis now in the direction of an easier condition on the London market. In the Old Land there is available for the purpose qf investment every year money to the extent of at least £300.000,000, and frequently as much as £400.000,000. Although the lendere may have been trying lately to get a little more from the iborrowens, it is a mistake to suppose that in the Old Country there is not a plentiful supply of money. It would be a great mistake on the part of those carrying on the affairs of this country to go upon the London market twice in any one year, but with the productive capacity and indmstrial power of this country, we can, with confidence, rely upon soon getting over any temporary difficulty in regard to finance."