THE PRICE OF MONEY.
This is howvjthe. Otago Daily Tiims views the commercial 6bb find. flow :-*— <« With an improving money market the hopes of all commercial men begin to revive. • Pew of our readers, probably, outside the ranks of those most directly concerned with large monetary affairs, are aware how d'FPPtty and exactly the price of" deposit money" gauges the prosperity of trade. From an eminent financial contemporary, on* the other side we extract the following figures, and our readers, looking back over the past four years, will
at once recall the facts which go to prove this statement. The price of money m Australia — and with no notable difference the dates hold good of New Zealand — was, m
From the above it will be seen that, as is only natural, prosperity is coincident with 4 per cent, and anything less as the bank rate for deposits, while 5 per cent and upwards means had times for us all."
■' . . po. p.c. August 1880, reduced from 5 to 4 February, 1881, „ , X 4to 3 November 1881, raised 3 to 4 August 1882, „ from 4 to 5 November 1882,,, „ 5 to 5J December 1882, „ „ 5^ to 6 July 1884, reduced „ 6 to 5J
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Bibliographic details
Manawatu Standard, Volume IV, Issue 239, 5 September 1884, Page 2
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201THE PRICE OF MONEY. Manawatu Standard, Volume IV, Issue 239, 5 September 1884, Page 2
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