THE MONEY MARKET.

Taranaki Daily News, Volume LV, Issue 151, 13 November 1912, Page 2

THE MONEY MARKET.

| I The New Zealand Trade Review says: I Throughout Australia money continues very tight, and locally, although the position is better than on the other side, money is by no means plentiful. .) The import and export returns, which we review in this issue, show the principal reason for this, as will be seen by the following comparison of imports , and exports for the past three years:— 1911-12 Exports £20,714.505 Imports £19,615,291 ■Excess exports ... £1,099,304 1910-11 Ex Ports £19,912,656 Imports £18,611,960 Excess exports ... £1,300,696 1909-10 Exports £21,958,864 Imports £16,101,886 Excess exports ... £5,856,978 The balance in the latest two years shows considerable reduction on the previous year, and falls a good way short of what is needed to meet our outside obligations; consequently a shortage of money is only to be expected. While a good proportion of our imports are needed for the opening up of fresh country, etc., there is also a considerable increase in the expenditure on luxuries, which might very well be curbed. The present season gives every promise of being an excellent one for exports, and if due caution is observed as to importation and general expenditure, the market should improve in the new year. The latest Post Office Savings Bank returns show an excess of withdrawals for the first time for three years; this is probably due to the higher rates ruling outside attracting funds

I away from tliat institution.