THE MONEY MARKET.
SIGNS OF IMPROVEMENT. Money ks still far from plentiful, but we think the position shows signs of some improvement. It is only the usual course of events for the December bank returns to show a tighter position than the September returns, and thjs is the position now, as follows: —Deposits: December, 1921, £40,935,619; September, 1921, £43,445.663; December, 1920, £49.456 892. Advances: December, 1921, £47,558,726; September, 1921, £4B,039.011; December, 1920, £47,118,296. These figures speak for themselves. Deposits are steadily dwindling, but advances are keeping at a fairly steady level, probably owing to a tight rein being kept on them by the banks. The current quarter will, no doubt, show a decided improvement in the position, but a good increase in prices for our staple products is required to restore financial conditions. The balance trade for the past nine months has kept on the right side, and for the year ending December 31 there was an excess of exports of £2,084,338 as compared with an excess of imports of £15.148,487 for the previous year. A continuation of this excess of exports will help matters, but a much larger excess is required to meet our outside obligations.—Trade Review.
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Taranaki Daily News, 13 February 1922, Page 8
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198THE MONEY MARKET. Taranaki Daily News, 13 February 1922, Page 8
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