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Hokitika Guardian, 13 January 1932, Page 4

“Thk important point about the banking returns is that they show that the institutions have made ample provision for another year of iow prices.” This statement was made by a Christchurch company manager interested in rural finance, who was interviewed regarding the banking retinas for the December quarter. "During the past year,” the manager said, "the banks have bad to carry the burden of production in New Zealand on their shoulders, and they have evidently done it very easily. They should certainly have no difficulty in arranging finance for tin- farmers for another year. In 192 G there was an excels of advances over deposits of £7,000.000, and although trading was much freer then and everyone was optimi'Sitie, the laet shows that the available credit is capable of considerable s ' retelling. A year ago nm advances were £.‘5,000,000 over the deposits. To-day there is a fairly even break, and while the position is due in some measure to a deliberately restrictive policy on the part of the banks, the true explanation quite clearly is that tho demands of the

trading community have been much fighter than ii) past years. This leaves so much more credit available for financing production, and the farmers consequently should not have the slightest fear about obtaining finance for the next twelve months. It is the best news we have had for a long time, and the only better news that we can hope for under the present circumstances is a lift in the price,? of our products.”