COMMERCIAL.

Wairarapa Daily Times, Volume VII, Issue 2140, 7 November 1885, Page 2

COMMERCIAL.

Messrs Charles Poy/mII and Go,, mortgage agents, Wellington, report tlie demand for capital oil mortgage investment has been' limited dunug the last month, while tliG supply of money has considerably increased. The rate of interest has consequently decjiijed fully one-half, and IB now 1 per cent, for moderate, and 6£ to G per cent, for largesums, ' Special arrangements forestra large amounts may possibly bo. entertained /it s£, but there is no probability of any further fall below these quotations. Already symptoms of a strong paction in the Home market have occurred, wjj])' a 'sudden commercial rise of J per centr-namely, from' If to 2 per cent, The continuous fall in ojjr chief exports has given rise to a general uafavorableimpression that oyer.-productlon is 'the cause, and that any reaction is therefore improbable, With this irrational conclusion we must beg to differ, and our opinion is based upon the, solid ground of long personal experience, Sincfe 1842, yhen stations in Australia were dmted and |l\eep were sold for Gd per head, nearly every decade we have had somewhat similar transactions .gccwfiijg, where, like th© present one,, there w/is apparently little prospect of recovery. There are. now m;tain prospects of China being oped out with a network Qf railways, developing'a trade with 400 millions ofpeople, Egypt, with a new loan of 10 millions, and Central Africa, are following in the gamo course, and before, therefore, we lend ourselves to the folly of hopeless despair we should recollect that the continents of the world are at present bijt barely half supplied, and that the age of improvement is now moving on with rapid strides, . "