"FINANCIAL EASE."

Evening Post, Volume LXXVIII, Issue 121, 18 November 1909, Page 7

"FINANCIAL EASE."

♦ TRADE REVIEW'S COMMENT. Commenting on the import and export figures up to 30th September, the New Zealand Trado Review gives an opinion that "the returns on the whole are calculated to help forward the restoration of easier conditions in the money market." The total values for the last three years (excluding specie) are: —

"'These figures," remarks the Review, "give proof that the" latest year has practically brought the. Dominion back, in ihi& respect, to the position it occupied in 190&-7; that is to say that the value of the exports was sufficient tp pay f or the imports and leave a margin enough to meet the ' outside obligations, public and private. The figures indicate the sudden change brought about in 1907-8 by the shrinkage of exports and expansion of imports, when the former fell short of the Bam required to pay" Tor the latter, leaving' interest obligations out of the question. The Heficiency was, of course, worse than is shown by the figures owing to the realisation of the wool clip falling short of valuations by about one million. We have now entered upon a new produce year, the result of which, judging by present indications, promises to be extremely good, and, as the local money market seems to bo for tha present relieved, from the demands that have been made in the past to meet the requirements of the Government and of local bodies, there is good ground for anticipating a period of financial ease in the near iuture." The falling-off in the imports for the September quarter, in comparison with 1908, is, apart from specie, £839,091, equal to 17 per cent. "The rate of importation, last year," states the Review, "was excessive, and we believe the shrinkage is not more than is desirabla to assist in Testoring tho equilibrium between imports and exports as well as to bring importers' stocks to a more healthy volume." Ifc was indica.ted/»by the returns for the month of September, published yesterday, that importers were ir.crea.sing their orders in Eome important lines. "Trade conditions in country districts," the Review notes, "are beginning to show distinct improvement, thanks to the activity connected with wool-shearing and tho money circulated by the dairy factories. Tho excellent prices realised for wool at recent sales will also put farmers in good heart and give assurance of increased financial eaeo in the near future. In town trade is still a good deal of a hand-to-mouth character, and almost confined to articles of actual necessity. Conditions are, however, sound, and engagements generally well met."

£ £ £ Exports 18,700,156 16,370,58? 19,891,846 mports 14,916,005 17,75U,6d8 16,071,887 J ETport3 3,784,151 — 3,819,959 Exces6of Imports — 1,380,281 —