The Manawatu Standard (PUBLISHED DAILY.) Suivant La verzte. MONDAY, JULY 23, 1883. THE FINANCIAL DEPRESSION.

Manawatu Standard, Volume 4, Issue 193, 23 July 1883, Page 2

Manawatu Standard (PUBLISHED DAILY.) Suivant La verzte. MONDAY, JULY 23, 1883. THE FINANCIAL DEPRESSION.

From all parts of the colony come reports of 3ulf "times and scarcity of money. Yet, stranija to say, we do not 'hear of the labour market. being inactive. There .^e no unemployed agitations as there were two years ago, and m most districts the. supply of labour is not equal to the demand. Yet mon»y is very tight, and the prices for stock and produce are exceptionally almost un* precedentedly, low. We mu£t bear m mind that New Zealand, according to Major Atkinson, has to send Home some £2,500,000 as interest annually. It follows that, if prices foi our staple exports are depressed and wool fetches only 9d to lOd per Ib instead uf 12d to 13d, the wool-growers must send to their creditors 41b for every 31b sent a year or two ago. The prospect of England's and of the United States' invests are good, txpona tr m lariat Britain to che Australasian colonies lor me first 20 weeks of 1883 suow, according to Messrs Stables, Stbakeb. *nd Co.'s cirjualar a falliu^ offoffu.lv 15 per cent, for the wholfipf JX e \r Zealand The excess of advances over; deposits m the banks throughout the Australasian colonies also shows a alight decrease. The yield* of pold is an important factor m the gen en. I con eidpration o£ this question. Larg qaantitiOß of gold haye of Jafce been sent to Italy, to the Continent, and the' I'uit-d States, which means a harden ogof th« nioney-tna<ket, with a cor- < syondin*: effect m the Colonies. I here is not m eh indication of gold becoming cheaper, and the tendency of staple commodities being worth more m th« inaikets is not therefore to bd anticipated. Considering the whole question, ; ia us varied aspects, especially the feature that capital is bejng direct d into more reproductive channels, each «b local iudujteies, meat frewintgyohjege;

butter, aud bacon tactories, &c, there U reason to believe that within a few mr.n.'ha nsor? the present financial depression will ue greatiy rn'ietad j th #u.h some time must elapse before brisk uess take 6 the place of the present stagnation m all branches of business.