New Zealand.

Samoanische Zeitung, Volume 19, Issue 35, 30 August 1919, Page 2 (Supplement)

New Zealand.

PLENTY OF MONEY. AWAITING USE. Commenting on the financial situation in New Zealand, the Wellington Evening Post of a recent date, says : " The abundance of money in New Zealand for which no immediate employment cau be found is one of the most remarkable features in the nn--nancial history of the Dominion. Without again going over the ground covered by the bank returns which showed an increase in private deposits as at June 30 of /4, 157,000 over those of March 31 last—it may perhaps be said that the Dominion was never so flush of money ; at any rate to such an amount, awaiting profitable use. * Some relatively large sums to be placed at call are being " hawked about,' ? if the expression be permitted, and are not finding acceptance. The money market is thus certainly easy; but some authorities believe that this is but a temporary phase. There is the next War Loan to come on to the market, but for v hat amount and on what terms has not yet been disclosed. In view of the deferment of so many Government, municipal and private works during the war, there should presently be a brisk demand tor capital during the next y?ar or two. Works will probably not be seriously considered, with a view to undertaking them, until the War Loan has been disposed of. The influx of capital is due to the steady and remunerative prices received for the Dominion's produce. »