The Wairarapa Daily. TUESDAY, OCTOBER 26, 1880.

Wairarapa Daily Times, Volume 2, Issue 604, 26 October 1880, Page 2

The Wairarapa Daily. TUESDAY, OCTOBER 26, 1880.

Annual and biennial bank reports are not, as a rule, of special interest, The; dividend, the bonus,, and the slice allotted to the reserve fund, are usually much about the same whether times be bad or. good. Occasionally, however, in the chairman's remarks some little indication is found of how the wind; blows, and the commercial world is taught to smile or mourn, asthe case may he. The annual meeting of the Bank of New Zealand last week is a case in point. In our present issue we publish the following comforting words which fall from the lips of the Chairman" We have now the cheering prospects of reviving tvade and increased success in all the staple industries of the colony. Our resources' in London are maintained at a very high point, that being the only market in which we can command temporary employment for our surplus funds; but I trust the growing requirements of the colony will, ere long, enable us to use our funds locally." These words suggest to us the reflection that the weather must have been very bad in the past when so much sail has bad to be taken in, But they also indicate that the bad wealher is behind lis, and that shortly we shall tie able to carry our full stock of canvass with a fair breeze again. The period of collapse has-passed away, and an era of gradual expansion is dawning upon us, Capital is abundant, and- is seeking outlets. If it does: not find them in New Zealand at the old rates it will have to tako them at new ones, which will be on a reduced scale, There is a chanco before us of cheap money. We want cheap 1 money badly in New Zealand. If -we get cheap money, cheap labor, and cheap rents in this colony, we shall soon shake off 1 all embarrassments, and. increase rapidly our population and material wealth. No community can thrive with interest at ten and twelve per cent, wages at WJven shillings and eight shillings per day, and four-roomed cottages at twelve shillings and fourteen shillings a week. Wages and rents have come down, and money is, : to:" a certain cheaper; but, judging from the speech of the President of the Bank of New Zealand, wo are disposed to believe that money will como down below the rate at which it now stands, ; and tiat 1 after-many years we,shall have " cheap money" in Now Zealand,