The Manawatu Herald. Tuesday, May 2, 1916. THE MONEY MARKET.

Manawatu Herald, Volume XXXVIII, Issue 1545, 2 May 1916, Page 2

The Manawatu Herald. Tuesday, May 2, 1916. THE MONEY MARKET.

IN a. review of the position of the money market, the New Zealand Trade Review says : —The exports and imports to March 31st last, and tlie hanking returns for the • piarter ended March 3Jsl , give ample evidence of the-prosperity of the Dominion and the abundant; supply of funds available consequent on (be splendid prices which are being- realised for our staple articles of export.. Our linancial position is inseparably connected with the relationship our imports hear to our exports, and (bis argument is wellborn e out by the following figures : Excess of Excess of Year ending Exports. Deposits. March 31. £ £ 191(5 12,159,9(50 7,540,100 DM 5 7,000,740 3,088,(570 1014 1,(503,274 303,500 1013 1,333,577 804,700 DM2 *770,000 887,353 1.011 4,112,121 3,000,(550 1010 0,003,5(50 4,102,310 * Excess of imports. The movements in these two sets of figures do not, quite coincide, as there are other factors that have to he taken into account. Imports are generally paid for at once, while exports may not he realised till the next quarter ; also loan moneys come out in (he form of imports of goods, and the hanking figures we give do not include Government accounts. The present position is a record for tho Dominion —we have an enormous surplus of exports of over twelve millions, and tin l hanks have a surplus of deposits of seven and a-half millions. While, money is exceptionally plentiful there is a good deal of hesitation as to investing, chiefly due to feeling of uncertainty as to how long the. war will, last and what- conditions will he subsequently, and consequently lending rates keep firm.