THOROUGHL[?] SOUN[?].

North Otago Times, Volume CVII, Issue 17169, 28 March 1927, Page 4

THOROUGHL[?] SOUN[?].

:-:::o:\tgmic position of DOMINION. / rilGH CREDIT ON LONDON MONEY MARKET. ; "The present general ec'onomiv. position of the Dominion may be correstly descrihed as thoroughly sound," declares Mr L. B. Beale, His Majesty's Trade Commissioner in New Zealand. in reporting upon the economic and commercial conditions in the Dominion during 1924, 1925, and the first seven months of 1926. "The State flnances, under slirewd and capable direction, are showing satisfactory results,. the banldng position has been wisely handled, and there is no evidence of any excessive timidity in commercial circles. The slight unemployment existing is but a passing phase the efforts to stimulate and improve production are bearing fruit, and any favourable movement of price levels will not only maintain, but enhance, the prosperity oi the Dominion. The psychological effect of a temporary reaction has heen undoubtediy to cause too pessimistic a view to be taken locally ot the immediate future hy some sections of the community, but the high credit enjoyed by the Dominion in the London money market in itself bears evidence to the justly favourable regard in whiich New Zealand is held by the most expext and dispassionate experts.®9