THE MONEY PINCH.

Manawatu Times, Volume LXV, Issue 1902, 23 April 1913, Page 6

THE MONEY PINCH.

EFFECT ON COMMERCE. Association. —By Telegraph. Wellington, April 22. Speaking at the annual meeting of the Chamber of Commerce to-day, the president, referring to the trade outlook, said money stringency was all that New Zealand had to fear, and commercial men were necessarily acting with caution until the position became more settled. Fortunately there was some indication that an improvement had set in, for the Bank of England reduced the rate of interest last week, and if the political outlook improved no doubt the rate would be brought down another half per cent, presently. He quoted figures showing the favourable gress made in New Zealand produce." If the present prices were maintained he said it was safe to say New Zealand exports to the 30th September next bade fair to exceed last year's total by something over £1,000,000 or £1,250,000. The increase was a large one, and would bring the year up to about the level of the best previous year, 1909-1910. The piice of wool had advanced the vaflae of „tlie season's clip by about a million. Wellington had become the leading selling centre of New Zealand. For the first time dairy produce had now passed the three million mark in exports, and was running close to frozen meat for second place on the list. To sum up, the position of export lines was satisfactory, and it would have been more satisfactory if increases had been quantity in-

creases and not price increases, as the former were the result of in- ' creased productiveness, and might be •onsideied paramount, and the latter were'subject to market fluctuations.