THE MONKEY MARKET.

Taranaki Daily News, Volume LI, Issue 227, 18 September 1908, Page 2

THE MONKEY MARKET.

According to the, Mercantile (Jazette money is certain to bo dear and scar.v m acw Zealand lor some time yet it sav s that thi* dearu'cMs will be strongly telt this month ii.nd urxt mouth, but thinks that a certain measure of relief should be experienced in November. Jbc Gazette go,s (11l j lie pinch is now beinsj fell, some are inclined to assail the banks for refusing to make advances «„ apparently good security like real estate. Apart from thu fact (halt the bank.s are ample just ilied in (loin- as tliev think lit in s, "'l | ;i "mtlcr, it is hardly compel,.,,|. ;, n nutsider tn indulge iu advev ;c cnlilmcnl. || .| MlW|| |, v ( | |c ],. |Jl)c j ni , '"I"!'"-- I'"' Ilie .hill,, ipiarter that the Ine brinks I rail inn' in X,.\ v Z,.aland bad iii'-reased t.lieir advances'by owr llnve '"'llio" sterling while at tlie same time

I heylust 111 deposits about II million Mll ,| '""'I" I'iivc been decidedly ""<1 liavo done their utmost ro awOjmnoiliitc flip public, but it is not to "I",': 11 " 1 "ml 111'' responsible officers nould 'livest themselves of caution. The 'l<-]iismmls upon tlic banks have been extraordmary, not alone from the regular customers, but from others -also "The f'nvnfo icmiinjr institutions. such as lae . "wurancc companies ami buildin.r sow,-tie,. have 01 . nnw ;j )in „ '?"■ ;"" 1 borrowers lav. urns been fort-od |o turn to the hanka not always with success. The trailin? community has increased its indeht:- ' W,, H because of the

~'i»at (lisparilv between exports and import. . While the forme,- hive decreased elatter have mcreiHed, :I „d , v i t h (!, n '•mt.uN-il vj),..nrnvi-r <,/ j| i( n ,, r) i>! ( . considerable diniclty has be',, ''need in liijiiulafin<; sl„,.| ; s. Besides e„- < J.\Aolinn to Hh'cl Jls well JIH ]K"lS*i!)l<' le demands ot borrowers during Ihn months pa.-l. (he banks have had to for meelinir advances dnee, nrhve p, ; n„,l of ui.i.l, uiil ri V,v, ' nil "'>' On (lie nh ,l. ( tiev w well; i,7 fl f Te Solved tflie community to the toll ex.eni 0 | (1,,.],. ,-(.i, pmv si-iently Wl |li r-wM |„ (he pro-pec! ire acquirements. Tl„ r |,., v „ rn , ( , fy on real estate. ; ,„d f {)l . V( , n . , renvois. >,N. it is ~„n !| j,:,^

o tie up money i„ -.lo\v 5,.,| ties such as real estale happens |o he Jllst 110 W. and secondly Hie !inf]nl,'d' values ol laud mat-., real esinte a risky security 101 l |, ,Im®. »•!,.. 11,,' d ■llsar- llk-v crumof f]j] •]]jiliiMi- li speculations who are incensed at lb - banks. 1.-.'i iii j, „.j|j found |h-,< Hi l.., M | ;< |,. nv wi , h considerable rani ion. ami in (lie besl in. tere.ts of the mi I ion. The inflation in land values mwt be squeezed out before I hciv can b' s -iny general recovery and values are f-illin? sf-e-nlilv, \o 'doubt slrenunns effurU .ivill be made lo maintain values, lmt I'tore is no fi-'hUn™ , against the actual economic conditions.

Land values have declined in other parts of the world, and New Zealand must conic into line.