Manawatu Herald. SATURDAY, DEC. 81,1898. Money.

Manawatu Herald, 31 December 1898, Page 2

Manawatu Herald. SATURDAY, DEC. 81, 1898. Money.

Last week's issue of the New Zea. land Trade Review contains the following relative to the Money Market : — From the most important of the financial centres of the world, come advices of rising rates for money. In Australia also an advancing tendency is reported and it becomes an important question whether the wave is likely to reach New Zealand. The usually impassive character of this market and the heavy accumulations in the hands of ihe banks would suggest a negative un-wti*. Moreover, the influences responsible for the rise in European countries are apparently more or less temporary in character, and the remarkable increase in the world's output of gold is calculated to prevent the occurrence of inconvenience from the requirements of new gold standards. On the other hand, if heavy withdrawals from Australia continue we could scarcely expect to escape the effect. Our exports are, however, larger now than ever ; we are actively engaged in sending for. ward our wool clip and dairy produce, and have every reason to anticipate a bounteous grain harvest, further improving our position. On the whole we are disposed to doubt the probability of an advance in money rates in New Zealand unless in the contingency of serious international complications, the probability of which appears to be steadily receding.