REPLY TO CRITICISM.

Taranaki Daily News, Volume LII, Issue 175, 17 August 1909, Page 3

REPLY TO CRITICISM.

ME. MACKENZIE'S REMARKS AT BALMERSTON. SURPLUS OF EXPORTS OVER IMPORTS.

r .„.,.■ • Dunedin, Friday. n J'eplying to criticisms made I>v' an Auckland banker on hi;, 1 Palmcrstoi North speech, the Hon. T. Mackenzie says: "It is as well for this banker's reputation as a banker and a statistician Unit he -has not attached bis name to us statement. My assertion was' tliat the Dominion's surplus of export* over imports during the six months ended •iOt i June aujpuuted to five and a-half t mllions, which was a record in the history of Now Zealand, not only for six months, but the nearest approach to ■ -„- 01 ' a „ whole -v™r was under four millions of a surplus. .That is not a question of opinion at all; it is a ones- . Hon of fact. I gave -the statement at a casual interview as I was passing hiough Palmerston North in the train. J have in my pocket a copy of the New Zealand Trade Review of sth August a recognised trade journal, aild it ° ' lh.it Ihe excess of export, over imports tor the six months ended 30th June is i0,a1»8,562; so I understated the surplus by i-8502. The nex.t point is that i said that the banks had been eased icily four n.Ulions. On that subject lcuxcil to thc extent of £3,891 07(1—a very substantial relief-and, looking at . the excess of exports over imports m l , are disposed to infer that the banks' customers have already benefited to a . considerable extent' ' ''Another point that the well-known ' banker makes ,si„ regard to money ! h™ ?, ? °!' A reaU,Tead. mg authority on badfcing advised me on my way South that £IOO,OOO is n™w available for investment on any good security Perhaps this well-knmvn ■miker belongs to the cla* who desire to continuation of high ?ates of the" Z Vr Md , Wi?heS t0 ™Press pon the public who want to borrow that money UtMKt> nsi ft t «»» fication for lenders obtaining unfair I rata, of interest. The real facts oftne case, however, are that we are on the v up-grade, and that money is easie" and to. J?r W '° haTC bona fide BCC»ri„n /<? .f n " me will find MS? m **° tUtt * " *«<*