The Guardian (And Evening Star, with which is incorporated the West Coast Times.) THURSDAY, JANUARY, 3rd, 1924. NEW YEAR PROSPECTS.

Hokitika Guardian, 3 January 1924, Page 2

The Guardian (And Evening Star, with which is incorporated the West Coast Times.) THURSDAY, JANUARY, 3rd, 1924. NEW YEAR PROSPECTS.

V: the dawn of a Now Year it is plea•‘■ant t.<> tiv anil estimate Ilia economic I* 1 "-'Toots of tlio Dominium No two authorities arc likely to arrive at tlio siime definite conclusions, but it is probable that there would be general agreement on the broad facts. After all there is no one capable of forecasting tile i'utnie. ’-it- were this poos’! I" a great mane m aple would bo in Ibe line of the n- t-ii.-h-ipnVkly !->t The measure of our j mspor’lc or ten ocoi.nmie vnurtln.-. . ..Jui— '■V.l.itiiy. ,!.- fends !!! . '; the volume of onr espnm . ami lie pr;ce , teali-.-d for auie In point ol t'll. we ‘“(end upon our pn maty products, such as wool, meat, butter am! cheese, lot our welfare. Wbou those commodities are .soiling at high prices, w are ill the prosperity zone, and. if there is tin expansion in the column as well, then we are verv

pi'espoious. Our prosperity <-an bo itii ci cased by heavy burrowing by the (loi vernmont :ii:t l the local bodies in J,ondon, for tins money or credit so obtained is additional to whatever may be obtained front the sale of onr produce, l.aat year showed that New Zealand had completely recovered from the slump of lljt'o-21. The quarterly banking averages first demonstrated this, and it was emphasised by other returns, such tor instance as Customs icterus, the railway returns, and the 'State finances. The recovery came iisoiiiowhat .speedily, certainly before many people thought probable, and the banks are responsible for this. During the slump, the banks .strained tluir resources to help their customers, which gave them the right to impose conditions leading up to recovery. The hanks insisted upon the liquidation of surplus stocks and the strictest-economy in all directions and by the enforcement of these conditions the mercantile community soon secured full command of their affairs. Besides these success fill efforts of the bank's, tin* economic conditions were greatly assisted by the strength of the dairy produce market. 'Jiio output of butter and cheese showed an increase and the money value of the exports approximated to £16,000,C<)0. A third helpful faction was the heavy borrowing in London by the Government and the local bodies.