THE SILVER LINING

Rotorua Morning Post, Volume 2, Issue 273, 13 July 1932, Page 4

THE SILVER LINING

Had New Zealand not lost some of her resilience through hope deferred, she would have been thrilled by the successive items of great good news in the last two or three weeks. The settlement of Lausanne is only the latest of a series. We say ulatest" advisedly because we hope and believe it is not the last. The improvement applies both in the money and commodity markets. In the financial world particularly in London, there have been many signs of growing strength and confidence. The bank rate is at a lower figure than since the "nineties" and cheap money is exercising a powerful influence in many directions. The most notable is the gigantic British conversion loan but the effect has been felt on most classes of stocks and shares, even our distant stock exchanges joining in the appreciation. On the commodities side the metal mark|ets have begun to react favourably and New Zealanders do not need to be reminded of the rise in wool and dairy produce prices. Meat quotations are also firmer and some slight gains have been made. No doubt the business of recovery will be slow, requiring a continuance of discipline and determination. All the same we can at last feel that we are on the way and that is a great deal gained.