ECONOMY URGED.

Taranaki Daily News, 27 November 1920, Page 4

ECONOMY URGED.

KEW ZEALAND'S FINANCES. BANK INSPECTOR'S VIEWS. Matters affecting financial affairs in New Zealand were touched upon by Mr. B. M. # Molyneaux, New Zealand inspector for the Bank of New South Wales, in the course of an interview with a Daily News reporter yesterday. In regard to the position in New Zealand generally, Mr. Molyneaux expressed the opinion that a certain amount of economy should be exercised by the people. While good prices were secured for produce during the war, resulting in an increased amount of money in circulation, the position has now slackened, and there may be a falling off in trade. According to Mr, Molyneaux it will take some time before the economic position has righted itself. One feature of the financial stringency which exisfs, said Mr. Molyneaux, was the accumulation of exports, which are being rushed into the Dominion from England and America. Some of these goods have been on order for a long time, and in certain cases the importers have even given up hope of securing delivery and placed another order with a different firm. 111 order to meet obligations through the arrival of the goods many of the New Zealand buyers have to seek asssitance from the banks. The fact that there are many people, including local bodies, desirous of borrowing money, enhances the stringency, and besides this position having to. be faced there is. a problem awaiting the Government as to how to assist the wool-growers to meet the slump in the Home market, by Holding the output until better prices are offering.