MONEY MARKET.

Poverty Bay Herald, Volume XLV, Issue 14647, 3 July 1918, Page 5

MONEY MARKET.

' ■; The! !ooal r money market the Trade, Review) is ait present somewhat ! colorless;, that is to. aay. there : is stiU an ample supply of funds layailabley^due" 'principally to' tn6 laarge. amount paid ijut, by. tb,e Imperial (Jovernnjent pn;acconnt !of our. produoe,' whether: shipped' .or, npfe j and .these payments to: date anioUnt to ; close on 70 ■.- miHions, Mso to the lairge lo6»I> expenditure: of? .\ loan mopey^by the.Goverr^,; ment. In .normal times' the taibney macV ket heref is largely controlled by the re-, ■lationship of iinportsja'ndejcportsviand coiv : sequently a fair gang© .of- .the!fmQnetar.y ! position can be made by. a •oomparison of ' these..trade " retprns,.;'biut riiiatters are veryr different' ncKW-^wOoK is f -.paid for on 'spot,/ 904 per cent; id' advanced' againsj dairy fproduca m store,' -and;? now" the". Imperial '• ■Goverhmont' : : has ', advancfed: three milliops.iagainst frozen iheatr;; m Btore awaiting shipment. -In thiß direction the Imperial :Qovernment ijhas "iire^ted JN ew Zealand '■ remarkably; "rwell, aiid has contributed to a very -^ considerable extern^ towards :thfrpr6se>i)b:satißfaotory financial.' position of the: jßominfbn. ;v Good . prices and ? prpmpt payment have put a, Ifirge amount«ot money ijtto r imnt^diatiei : circulation. ' v Not' only is'-therQ ample j?apit^l available here on- the sp6t, ,bqt(the|(ank , of New Zealand holds a y^ry latge.sum m London m a form readily aVaUable •for', transference Here should - decasion arise. ■• / '■■''! h i - : -' / -.'c-i± ,*> ~: -> >■ tj ■.-. The prosperity Voecasiotied v by war prices tfor your produce^ has caused.. such ] an - influx fof • f uridsi ihere>' that < the ,/Gov;^ emmdnt has been, able Mrraise Joans to r an' 1 - extent: never dreamt ;of-; prior '.tori the j war. ..Since the '.'butbreaicJ. of war.: the • Government has .'raised /r loans'.* for.\ ?tfar ; purposes amounting to £56,558>916, also \ £9,P00,00Q 'for.ppblic works,Hland set-' tlement, .etc.; within, New:* Zealand, (also i819.52^t575 m tondony.: v Besides > this large 'aihbtmt. of loan money the people ■• ofv/New , Zealand have contributed $&,- • 774:800 m money , dr^ goftds lor yariotls* patridtia funds, also «i: large, amount m i money and; ©oodsr'sent' direct to^ overseas f relief! projects. .■;■ TJns/all shows that New ! is rem.arkabV prosperous, larcr^- ! lv as' a result of -the v war. 'After the ; 'ivrar there will com* a period of readj ustment^ when , prioes . may , not be so ; good and money 'much- less plentiful, but^ the banks have this m view and nre pro-; vidine 'accordingly to meet the , after-war i conditions. . ; >c. ... '.vv-f';,.-.' •