The Guardian And Evening Star, with which is incorporated the West Coast Times. MONDAY, AUGUST 28, 1983. THE REVIVAL.

Hokitika Guardian, 28 August 1933, Page 4

The Guardian And Evening Star, with which is incorporated the West Coast Times. MONDAY, AUGUST 28, 1983. THE REVIVAL.

A writer in a financial journal describes the present gradual improvement in affairs, as “a spontaneous revival of confidence.” Ho sees signs of it in a more buoyant share market. The initial cause was the conversion scheme of Government loans reducing the rate of interest, and thereby setting the pace. The blanks in turn cut down, interest rates on deposits which had been increasing to the disadvantage of the general economic position. Mortgage rates had been reduced also, and in any case there wias less business in that sphere. Those with money, looked round for more remunerative investments, and the stock 'market came into immediate prominence. Holders of capital desire to see their incomes maintained, and investments are sought. Exchange rates are too high to export money to advantage, and so we see a greater volume of money circulating in the country. This movement stimulates trade and' has created a degree of confidence which is a special aid'to a; return of prosperity. New ventures particularly in the mining world, are finding general support, and it is hoped the same favour will be shown towards industrial investment. The public are realising the position ,and this should oncou,riage the Government to foster the promising outlook. There is talk of an enlarged public works policy to provide more genuine employment. That would, be most helpful in. assisting to l circulate more money. The full effect of the subsidised building scheme is not yet felt, but by summer, that also should be of material assistance to the general situation. Our correspondent at Wellington, in a recent letter, had a cryptic note hinting that Messrs G. W. Forbes and R. Masters were returning with a sugar-coated message, and this will assist the rising barometer of better times. There is room for help too by the reduction in taxation, permitting more money to go into other avenues of more direct circulalation for the public benefit. The high exchange rate, it is not unreasonable to hope, may soon be reduced,/ a probability hinted at in more quarters than one. Favourable gestures by the Government would be most helpful at the present juncture when the outlook is so promising in other directions. The country, dt is plain has to work out its own destiny t<> a great degree. International co-operation is being withheld, and Imperial help is limited. But there is a tide in our national affairs which is flowing in the right direction, and the fullest assistance from within might achieve much, and help the more nermoment establishment of better times. It is pleasing to 'find that in the long last there is a possible way out of the financial enlargement so long delaying recovery, and the achieving of progress. A fine opportunity is at hand and requires to be made the most of. Our own distinct is doing its bit in providing mining ventures which are proving attractive to the investing oublic. Folk interested in milling 'are coming here to search out new ventures. The seasonal flow of tourist traffic is promising. Our settlers, after a mild winter, are entering on a new season in good heart with a promise of better returns alike for stock and produce. A brighter vista onens up which will be all for the public good.