THE WORST OVER.

Taranaki Daily News, 30 March 1921, Page 5

THE WORST OVER.

NO CAUSE FOR PESSIMISM. No ono can predict the future, but we think the worst is over, and that we have got down to bedrock so far as our pastoral staples are concerned. The tremendous volume of imports, the financial position in London, the compulsory loan and ths six million drawn for income tax have all assisted in thedecline. It was the association of these with the slump which has really caused the depression in this country. We think that matters are on the turn. Already sheep values are hardening, the London banks are again buying bills, and the ten and a half millions die Government demand for the Soldiers’ Loan and Income Tax have been provided. The American exchange is bettei and commenced its upward movement this year much earlier than last. Retailers tell us tnat business keeps good with them, and although the banks have had to give more assistance than in the ordinary course of things they wished to our traders, now that orders to England have been cut down to sorting up lines only, should within the next six months, be able to relieve the banks of a large part of the burden they are now carrying. We consider that the position is moving slightly upwards, and if everyone - ’ will show the same grit that our people generally do when they realise they have a difficult position to face, they will pull through with nruch less difficulty than they At one time thought. The sun which is hid to-day will shine again to-morrow. --'Mercantile Gazette.