The Manawatu Standard, (PUBLISHED DAILY.) Suivant la Verite. MONDAY, JUNE 11, 1883. DUIL TIMES.

Manawatu Standard, Volume 4, Issue 159, 11 June 1883, Page 2

Manawatu Standard, (PUBLISHED DAILY.) Suivant la Verite. MONDAY, JUNE 11, 1883. DUIL TIMES.

•The ChfistchiiTfcli correspondent of the iAnckiand herald candidly admits that !in Canter bury Himes are iery dull, and ImonQy m Chtistchurch particularly jtight. He points out that Major I AtMnson 1 attributed this'sTate of things 'to „oyer f 7specy»l > atjipji /s and ovet-importa-ition, and while admitting that these jcanses may h'ive^ 'been at work else!where, the writer m question maintains ; they; are, certainly,, not, st the bottom of [the 'depression m the Canterbury jpftiyinice: "ke^ebntends that m CanterI bury, during-!^, last foar years, specula- ! lion 5 r hW ' been' <a thing uukhown, for |tha,t yer.y best. ,of reasons,— they have i bad inowspare Jmoney with which to i speculate. The same is true as to over* i importation j merchants have \been con« 'fining th('ir ( trading within the strictest limits for a long time past. He reasons that whatever may be the reasons which induce, the banks to refuse accommodation to itheir customers, they,, must be sought elsewhere. Probahly Austraiian requirements are »t thebott »m of the trouble.' Figures show as that ! banks < ver the water have been advancing enormous, sums ; in- dpyeloping pror perty inQ«i»ien*sUa,a:Wbcl elaewhipre.anci.it fol ows that they had none to spare their, agencies here. Another reisonis, thongh 1 not so ojp'enTy, given for their conduct*. 1 Grain buyers are ve-y influential p ; ople m Chris; church, and banks, are nnderstood not to be averse to consulting the interests of such powerful cli°nts. ; Just now there is.aila'ig'e^q'i^ncity. of slightly, damaged wheat, hanging over the, market "which Che' farmers ar| very anxioUß'to 'selliat a certain .fig ore, ami wbtc'h 'giram* merchants are perfectly ready to buy, but- afc qmte a different figure. Obviously 'if the ;farmers • could hold out for a time they might get the better of thetussle: -On the other hand if thf-y are forced to sell, they mast do so at the price the. merchants .choose to offer them. As most ot the farmers are m their tiankera' hands, on account of advances on this . yery wheat now forming the bone of contention, it lollows that a little i pressure by the banks on their country clients will suit the grain merchants to admiratiou . Zf t is bfc true the iartaers'-'outlook is, but a popi; one,., for , lipw' they can fight against banks and merchants working I together is not easy to Bee. It is but I common justice to add that the i Bauk ot iVew Zealand comes m for less blame tha-i its fellow institutions; whose heads quarters are m Fydney abff Mtlbonrne. People admit thajt. the Bank of New Zealand has not been backward ■in Ah'eHnWfceV-of- liberality ';' they .^ only | regret that it should Jhave been unequal to the task ef redbaing;. a^T ;tb,e pressure put on the colony by the Australian banks ,r c . : -y ■*-■.; -~ .