THE MONEY MARKET.
The N.Z. Trade Review reports: Aloney is still far from plentiful, but we think tlie position shows signs of sonic improvement. It is only the usual course of events for the December bank returns to show a tighter position thm. (lie September returns, and this is 1 !:•: position now, as follows: Dec. 1921. Dec. 1523. Deposits ... £40,935,619 £49,456,892 Advances ... 47,558,726 . 47,118,296 Excess Advances £6,623,107 Excess. Deposits These figures speak for themselves. Deposits are steadily dwindling, but advances are keeping at a fairly steady level, probably owing to a tight rein being kept on them by the hanks. The current quarter will, no doubt, show a decided improvement in the position, bui a good increase in prices for our stable products is required to restore financial conditions. Tho balance of trade for tlie past nine months lias kept on the right side, and for the year ending 31st December there was an excess of exports of £2,084,338 as compared with an excess of imports of £15,148,487 for the previous year. A continuation of this excess of exports will help matters, but a much larger ex cess is required to meet our outside obligations.
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Bibliographic details
Poverty Bay Herald, Volume XLVIII, Issue 15746, 10 February 1922, Page 5
Word Count
195THE MONEY MARKET. Poverty Bay Herald, Volume XLVIII, Issue 15746, 10 February 1922, Page 5
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