MONEY SUPPLY

Evening Post, Volume CXXXIV, Issue 43, 19 August 1942, Page 4

MONEY SUPPLY

RESERVE BANK" REPORT

An increase in New* ; Zealand's v money supply during, the .war to the :^. extent of £42,800,000 is announced -ixi-■•'■■'■ - the annual report of the Reserve Bank ~ of New Zealand tabled in the House of ■:• Representatives last night., TheprlnciT. ;v, pal reason for this: increase ;has -been.. k . that the Dominion's -receipts -from^ v overseas since September,-■'.-1939, .ex-.; ■' ceeded the; external expenditure- by ■ £22,300,000, as shown' -lay;/the• rise < m^ the combined assets "of ..the,. Reserve v ■■: Bank and the trading;•banks;■during^, V that period;-.. .:■' '■. ■" . ; y; V- .:■* i,'-}'^:"'::-<r^ '■*£ --V^'-' Credit expansion ml^w.Zealand is:?::vV also a factor, land is shown ; as.follows;7:;;, Advances by the Reserve Bank in-gv creased by £9,800,000; holding of securi- ? ties in New Zealand by the trading banks increased by £13,900,000, bfEset 5 > by a fall in advances, which makes the net increase £9,900,000. Notes "-heldI, by $^< the public have increased since* Sep*- > .a: tember, 1939, by £6,800,000. >; i %g.

The Town Clerk of Petone, Mr. H. l-ilif Firth, reported on Monday that this tom year's rates were coming in most satis- S-?if|^ factorily, £1931 having been received, 4&¥?sy as against £405 at jthe corresponding .&WM time last year. 7 "' ;|li|§ The Petonc Borough Council -'has ':otjss agreed to th& expenditure of £20 ssvto^is&§ equip five E.P.S. accommodation posts f^Sf with provisions. - - ©S^f?