THE MONEY STRINGENCY.

Wairarapa Age, Volume XXXI, Issue 3027, 26 October 1908, Page 5

THE MONEY STRINGENCY.

IS IT PASSING AWAYi ADVANCES TO SETTLERS. By Telegraph—Press Association. CHRISTCHURCH, October 24. "An apparent stringency in the money market," Sir Joseph Ward said to a press representative, "is now passing away. The complaint that settlers and workers have been unable to obtain advances from the Advances to Settlers Department too is being overcome. So far this month £259,000 has been advanced, and the Department will probably lend an equal amount during November. That means practically £600,000 loaned out of the State in eight weeks. With considerable knowledge of the position in the Dominion in connection with the applications coming in, I am able to say that the Department is meeting the requirements very fully. I feel quite satisfied that by December any local tightness of money that may exist will have eased off very considerably. There is a very large sum of . which 1 am aware coming.into New Zealand soon, and this, too, will'have a very good effect. And then, too, our people are having a very fine season in the country. The butter districts expect a larger output than ever, and good prices- are assured. There is a stronger and healthier feeling among those who a few months ago were excessively pessimistic. I noticed with great pleasure that the "Press," in its leading columns, has consistently set its face against taking up an alarmist or even gloomy view of our finances. These articles came at the most desirable time, and I am sure have had a distinctly steadying effect."