The Wairarapa Daily. MONDAY, FEBRUARY 4, 1884. THE MONEY MARKET.

Wairarapa Daily Times, Volume 6, Issue 1600, 4 February 1884, Page 2

The Wairarapa Daily. MONDAY, FEBRUARY 4, 1884. THE MONEY MARKET.

-- ——• The Wellington. Price Curl-rent'for 'February in its usual article on the money market" says;—[,', : Tlie. official 1 summaiy of the returns ;of the banks trading m Few Zealand, for the quarter orided on/the 31stDecember last,- appoiu' ; in this week's Gazette, .Those returns are now anxiously looked for frorri quarter to quarter in the hope that they may;disclose some reduction in the'heav/.demands for accommoda-' .tion./iyhich have for some time past been-made upon the banks by the . %adihg; community, and so pave the way.fc •easier terms for money;!'- With the ' beginning of 1888 a check was given, to the rapid increase of-indebted-ness, but-since that time the. variations . in the aggregate's of advances,- though tending.'jn;the'Wght direction, have been poo insignificant to have any good effect, The. present return shews a slight increase in the borrowings of the public, and though it is but slight it is disappointing, when a. reduction was hoped-for.'.' The fact that discounts are steadily, though slowly, declining,-, whilst the advances, not represented ; by commercial papers, are increasing is i regarded as an unhealthy symptom, ' Liberal supplies of money are coining j in from the English "market, and banks | consequently are less eager for deposit ( than formerly. It. is now expected 1 that the high rate hitherto paid for i fixed-, deposits will at once be reduced. < There is more money in the .opsin' ' market, ; Bttd there is'alsomore demand ' for it, iflS pi no changes in lending j ,■''.' • - .'.V- '> ■

i:at«s have been nwdej-bufc it is evident that-the-raonoy market' iseasier, and, ,aa a uutural v .consequence, there must i ■be alterations in monetary:,tariffs. The j prospect of an easier' monoy market ond a fair harvest ought to make things, pleasante? all round. It- is evident piir farmers; now liave some' faith in. the latter, as financiers have in the former. 'lie. low prices ruling for wool are against the colony, but if New Zealand be forced by successive years of low:prices for' her staple product.to develop other exports to take, in a measure, its place, the : present cjond will not be -altogether without a bright side.