THE WORLD’S MONEY MARKET.

Manawatu Herald, Volume XXXVI, Issue 1248, 21 May 1914, Page 4

THE WORLD’S MONEY MARKET.

In an address to the Canadian Club at Ottawa, Sir George Parish said there was a notion prevalent in some quarters a few years ago that London was ceasing to be the world’s money market. On the contrary, during the past year, when Berlin, Paris and New York had less money to lend than usual, the London market was open to all comers and was able to satisfy them to the extent of two hundred and forty millions sterling, of which five-sixths was lent to the dominions and foreign countries. The ability of England is, in fact, greater than ever before. Her investments in colonial and foreign countries now exceeds three thousand five hundred millions sterling, and of this sum Canada has taken five hundred millions. The lendings have been principally for railway construction. Sir George Parish dwelt upon the growth of British wealth in various ways. The national income he put at present at two thousand four hundred millions sterling per annum, and expressed the belief that in thirty years it will be more than double the amount.