IMPROVED CONDITIONS

Wanganui Chronicle, Volume 80, Issue 104, 4 May 1937, Page 8

IMPROVED CONDITIONS

STATISTICS QUOTED SPEECH BY HON. LEE MARTIN ( Ter Press Association. ’ HAMILTON, May 3. Figures demonstrating the improved financial conditions prevailing in New Zealand were quoted by the Minister, Hon. W. Leo Martin, when speaking at Pukekapin at the school opening. The exports for the first two months of the current year were £3,421,000 in excess of those for the same period of 1936 and £5,242,000 above the figures for 1935. The imports for the same two months were £1,794,000 higher than for the corresponding months of 1936 and £2,722,000 higher than for the corresponding months of 1935. Exports of merchandise during February last were valued at £8,730,755, one of the highest monthly totals recorded since February, 1929.

The Customs figures showed a marked increase, while the average weekly value of the bank debits to individual customers’ trading accounts during Febraury was £22,015,860, the highest average recorded for any individual month since statistics became available in April, 1928. In December, 1936, the average net note circulation reached the highest point ever touched in the history of the Dominion. Bank deposits also reached an exceptionally high level during February, the average amount of deposits being £67,930,728, the highest monthly average since April, 1928.

“ BETTER POSITION ” CONDITIONS IN NEW ZEALAND FIGURES QUOTED BY MR FRASER [ Per Press Association. ] WELLINGTON, May 2. “I want to quote figures to illustrate the fact that the country is in a better position than a year or two ago, though we all feel that, of course,” said the actlng-Prime Minister, the Hon. P. Fraser, when opening the Wellington Coronation Show on Saturday night. Exports during the 12 months ended March 31, Mr Fraser said, amounted in value to £60,235,000 compared with £49,676,000 in the 12 months ended March 31, 1936. Imports amounted in the 12 months ended March 31 to £47,621,000, compared with £37,440,000 in the previous 12 months. Savings bank business was another indication of the trend of progress. Deposits for the year ended March 31 were £30,677,000 and withdrawals £27,042,000. The amount sending at the credit of savings bank depositors at March 31, 1936, was £52,916,000. With an excess of deposits, interest on March 31 amounting to £1,514,000, the sum was now £58,065,000, an increase of £5,149,000 over the 12 12 month".