ARE BAD TIMES COMING.

Timaru Herald, Volume XIIC, Issue 13489, 10 January 1908, Page 3

ARE BAD TIMES COMING.

Tii- " Economist " has made an inquiry into ih- vifect of the- American crisis and |"Jnir money" on the home tiade. Summarking th-- outlook ori Xov-.-iiib.-r 24th. i: &;ivs : •• 'Lhe g.iur.il inula position of tli«i oiintry. so far as can be gathered from :h- vulamiiKH:-, cum upondnnv? we haw ivc-ivctl isiuv. we think, he very bri.Hy siimmtuKscd." Almost every industry is already ha;npir.'d by dear money. and unclss the stra'n is soon relieved. the in-ihi.-tii-.s which most on civdit are lik.-lv to l)i- subjected to a lii-voiv d.pit/j----sion. " Trades that niv connect.'d v. iih the United Stiites are already feeling the pinch. and otlieiK whose relations with Ani.-riea are hiss direct are certain to be air. eted in Ihe I'ui ute. The latest n,=-ws lrom th;- States i.-. di-tinctly bad. and report--, from Germany point to the existence of grave difficulties in Ji-er]in. as w-.1l ax in Hamburg. The City of London is fortunate in its splendid banking tradition. :ti» admirable organisation, and iui eiiounouo wealth. "On ihe other hand, it must hj; admitted that- iu-- capital resources were severely depleted by tli? South African War." and that, of counse. makes it more difficult for th.' weaker brethren here to resist. *h > adverse of a foreign ciN-io. The best opinion of the City is that we ought, to be prepared for two. three or four months of dear money."