The State of Trade
The Napier Telegraph, in an article on the state of trade says :— From all sides conies the complaint that there is no business doing. Perhaps under the circumstances, it is just as well that legitimate business is slack. When money is tight, and long credit demanded, there is little if anything to be gained by pushing trade. The solvent tradesman feels the shoe pinch however, in cases where a compounding debtor can afford to undersell his neighbor. Given that both have bought in the same market, it follows that the one who has discharged his liabilities for ten shillings or less in the pound, can afford to sell at fifty per cent, cheaper than the man who has made no composition with his creditors. ... The scarcity of money is due to two causes, namely, the large amounts that have to be sent out of the colony to pay interest on public and private debts, and the decreased value of colonial products in the markets of the world.
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Bibliographic details
Feilding Star, Volume VIII, Issue 90, 5 February 1887, Page 3
Word Count
171The State of Trade Feilding Star, Volume VIII, Issue 90, 5 February 1887, Page 3
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