THE MONEY MARKET.

Taranaki Daily News, Volume LII, Issue 166, 7 August 1909, Page 2

THE MONEY MARKET.

A fairly cheerful reference to the state of the money market is made in the current number of the Trade Review., which says that the ollicial returns of exports "and imports to 30th June showed a substantial increase in the former and a decrease in the latter, this resulting iu an excess of exports over imports of over £2,400,01)0 following on similar movements in the March quarter. The totals for the six mouths ending on 30th June, apart from specie, compared as follows: .C Exports .. .. 12,2112,144 Imports .. .. 0,783,882 Excess of exports .. X5.508,5(12 The corresponding returns a year ago showed an excess of only .11,700,522. "The increased excess of the present season," says the paper, "brings, of course, a substantial alleviation to the financial jxtsitieui. Comparing the bank returns tor the same periods, we Unci the movements in advances and deposits chow as follow: December June Quarter. Quarter. .C .C Advances ~ 21,423.752 1!),042.;)31 Deposits .. 10,422,054 20,031,750 being a decrease of .U2.351.371 ill advances and an increase of 1:1,500,805 in deposits. The position is thus relaxed to the extent of .C3,801,071i—a very substantial relief; and, looking at the execs'; of export,; over imports, we are disused lo infer that the banks' customers have.already benefited to a considerable extent. The last half of In, year-July to December—is the slack export season, and already the shipments of wool, meat; and dairy produce have assumed greatly reduced pro|airtions. The exports of grain will thi> year conic to the rescue to a substantial amount, and on the either hand it is practically certain that importation will continue on a reduced scale. Prospects for pastoral and agricultural production during the coining season are exception- I ally favorable, and given paying prices I in the markets of con»iimptio;i a return to a fair measure of prosperity is hopefully looked forward to for New Zealand iu the year 1000-10."