FINANCIAL OUTLOOK.

Dominion, Volume 1, Issue 210, 29 May 1908, Page 10

FINANCIAL OUTLOOK.

STEADINESS AND GENERAL CONFIDENCE. (B7 TELEGRAPH.—SPECIAL, CORRESPONDENT.) ' Cliristchuroh, May 28. n J IIS a(^ress the quartorij' meeting of fclie Canterbury Chamber of Commerce, the President .said: Tito general stato of trade and the stringency of the' money market had been matters that they were becoming familiar with, both subjects haying recently booii' rory ably_dealt with by articlos in the press and by tho financial reviews, so much so that ho had no fresh' facts and figures to place before tho meeting) and a,J the samo time figures were not required' to prove tho solid foundation on which commerce -was be- 1 ing carried on at the present timo, as thero . was a steadiness , and . general ' confidence, recognised by nearly everybody that augured well for .financial' giurazements being-met i and tho conviction . that the,; average man had made cood.uso of the' many years of prosperity, and was in a position to stand any reasonable strain that lessened financial facilities might put upon him. As with the individual, so in tho aggregate, and he firmlv believed that tlio mass of our'traders, though .fully, realising the..necessity .for nautipn .ingiving ' extended terms,' yet would be' prepared to grant reasonable credit if, so required to their more needy ; customers, believing that the country was thoroughly sound at .the core and well ablo to. meet al! its liabilities as they matured. The present, chock was almost salutary eno, as nothing else could so ; effectually: stop the buying of land at tho .nllated values that had ruled for many months past. Therein had been tho greatest danger and menace to the future development of this Dominion. However, though, somo would require assistance, yet there was nothing in. tho present situation that indicated in any way general disaster. On the contrary, the outlook was distinctly hopeful. Wool had, taken a decided turn upwards, sheep, and lambs continued to realise excellent prices, feed was fairly plentiful, arid the fine spel' of autumn weather had enabled farmers to get in their crops under most favourable conditions. Wheat, oats, barley, chaff,' etc., were bringing excellent prices. Seeing tho backbone of the country was strong,' what was wanted was not so much to look at the profits that might have been and the luxuries that would have been enjoyed, but to take, as it were, a grip of the present with both hands, and with a 'courage founded on "tho conviction that the Dominion was undoubtedly sound throughout, face tho future with a determination that must command succcss and bring about renewed prosperity to all. •