The Feilding Star. Published Daily. FRIDAY, OCT. 13, 1893. A Hopeful Picture

Feilding Star, Volume XV, Issue 90, 13 October 1893, Page 2

The Feilding Star. Published Daily. FRIDAY, OCT. 13, 1893. A Hopeful Picture

* Most people are aware that there is just now an unusual tightness in the money market, and complaints are heard on all sides of the difficulty of obtaining supplies to meet obligations. The New Zealand Trade Review reports in this connection that in the open market there is a dearth of money available for mortgage purposes, whether in large or in small amounts. At the same time it points out that greater ease may be confidently expected with the advent of the wool season, when the negociation of drafts on England will cancel old obligations, and thus set free a large amount of money. The production of wool and mutton is undoubtedly the premier industry of this colony, because out of a total of £9,534,851, representing the whole of last year's exports, no less than £5,668,624 (or nearly sixty per cent) was due to sheep-farming alone. The wool so exported was valued at £4,313,307, and sheepskins, mutton, tallow, and preserved meats made up the remainder. It is not too much to expect, therefore, that when not less than four millions of money are suddenly released, as they arecertain to be, a more favorable state of business of all kinds will appear in every part of the colony. As the wool season, on which so much depends, has now practically begun, surely it is not too much to expect that even within the next few weeks we may begiu to feel the benefits arising from this source of income. We may add that as tlie wool increase for the whole colony this season over that of last year, may be put down at not less than twenty-five per cent, the money circulated will be greater in proportion. This is a bright aspect of the condition of affairs, and ought certainly to encourage business men who are at present inconvenienced by the tightness of the money, market to a more hopeful feeling than they have had for some little time.