THE MONEY MARKET

New Zealand Times, Volume XXXI, Issue 6835, 3 June 1909, Page 6

THE MONEY MARKET

The, current issue of the "Trade Re-" view" says :-—"Perhaps , tho most important of the factors affecting the local inoney market at the prescrt time are the imports and exports of the Dominion, and the proportion which, m their respective volume, they bear to each other. As our trade statistics are published quarterly,'...the next statement "to appear is that of the 30th of the current, month, : which will be looked for with interest, vindications, ao far, oncourago-tho hope that the returns will show, like those of the March quarter, a fairly' substantial excess of exports over imports. The tables of exports show tliat for April and May the exports of frozen meat, dairy produce, and wool are considerably in excess of those for the same- time" in previous years, while tho cargo returns show shipments of wheat, oats, and other grain on a scile that w-o have not seen for years. The concurrence of' a strong demand and an exceptionally good liarvest enables this- to be done with profit to the grower and advantage to the Dominion. On the other hand the, indications in evidence are suggestive of a continued decrease in the volume o! imports in most, if not all. branches of trade, but more especially in those connected with articles of luxury. Already there are signs of partial improvement and a more sanguine tone,' though we still consider that substantial amelioration is not to be looked for till about the end of lihe current year. If, in the meantime, advantage, could be taken of the present cheapness of money in the London market and fuller supplies brought m by the Government or others for advance on freehold properties and for developing the unoccupied lands of the Dominion the process of' recovery would be hastened considerably and placed upon a more permanent basis.' 1