The Chronicle PUBLISHED DAILY. LEVIN. TUESDAY, JANUARY 20. MONEY MARKET.

Horowhenua Chronicle, 20 January 1914, Page 2

The Chronicle PUBLISHED DAILY. LEVIN. TUESDAY, JANUARY 20. MONEY MARKET.

Tin: latest issue of the JNcw Zealand Trade lie view says that- tlie bunking' rot urns for the December quarter exhibit the usual movements lor this time of year, and disclose the fact {hat; money is still very far from plentiful. The banks have lent out over a million more than they bold in deposits, or £d(J2,:.55U more 'than was the case a year ago. The lateness of the wool season and the disorganisation of trade through strikes are probably the main causes of this. Though the current quarter will bring a replenishment of the banks colters from the realisation of the season's produce, it is unlikely that money will become cheap for some considerable time. Attempts are being made in some quarters to make political capital of the scarcity by blaming the present Government for it. To anyone acquainted with the rudiments of finance this is absurd, and it is very regrettable that such statements should be made. Money like everything else is controlled by the great law of supply and demand, and as there are enormous demands for capital all over the world, rates are correspondingly firmer, and we in Ts T ew Zealand are feeling this in common with the rest of the civilised world.