MONEY MARKET.

Poverty Bay Herald, Volume XLIII, Issue 14053, 25 July 1916, Page 7

MONEY MARKET.

The banking returns reviewed m this issue reveal the fact that money is still m abundant supply, there being an improvement m the quarter of over a million, as shoAvn m the following comparison of deposits and advances: — Deposits, June 1916, £33,161,890; March 1916, £31,274,053; June, 1915, £28,645,155. Advances, June, 1916, £24,268,341; March, 1916, £23,733,---89 3; June, 1915, £23,423,576. Excess of deposits £8,893,549, £7,540,160, £5,221,579. . The increase, in the surplus of deposits is £1,353,389 m the quarter and £3,---671,970 m the year. The present posi- ' tion is that the banks are holding far more funds than they can prudently employ Avithin the Dominion, but m the face of this the Government proposes to restrict the use of this surplus, and enforce the employment of such funds Avithin the Dominion. These figures point to .a continuance of a plentiful supply of money for some time to come. OHir exports for the latest 12 months are about 11 millions more than our imports, 'which is a very handsome surplus, and all available indications point to a continuance of a splendid surplus on the trading account. The sheep returns show a nominal decrease of about one per cent., but m all probability the final returns will not show any decrease, which is highly satisfactory after exporting over 25 per cent, of our flocks, and this is a very important factor m the general prosperity of the Dominion.-^Ti'ade Review.