FINANCE AND TRADE.

Wairarapa Daily Times, Volume XVI, Issue 5114, 27 August 1895, Page 3

FINANCE AND TRADE.

Specially compllcdfor llio" Watrarapa Dally Times. 1 '

, DIRT-CHEAP MONEY. Wlieu will the reign of dirt-cheat monoy como to aft end ? Those com petent to judge, profess to see the time near at hand, and there aronol ymnting signs that their prediction ». correct. Cheap money as w( liave known it during the last few months, cannot bo regarded as a blessing. Money has been cheap tc a few only, that is to say those whe were fortunately able to oifer exceptionally good securities, were the only ones to obtain monoy at a cheap rate, Furthermore, lenders have put out their money at low rates, with tho object of getting safe investments. All through, the rate of interest lias been with lenders a secondgry consideration, but safety they . have all studied with extreme caro. This is begotten of commercial no-confidence which happily is now passing away. Thereaction, when it fairly setsin, will have a disastrous effect on all high-class securities, more particularly Government stocks, which investors in their mad rush for "safety " havo caused to rise to a great altitude. COLONIAL I'ROSPKCTS. For tho colonies the prospects are brighter now than they have ever W® o ' has recovered and conJgfTues to show a healthy market; much of tho firmness in the wool market is no doubt due to the operations of American buyers, who have been stimulated by tho duty on wool iriiported into the States being abolished. Tho futuro of the wool market will therefore dppond greatly on the freaks of Yankee politicians; if, amidst party struggling the stupid protectionists should clap tho duty on wool again, it will be an evil day for us. Then if we turn to other of our staple products, we find frozen meat advancing, wheat is steady, the live stock trade is rapidly developing; dairy produce has ovevy chance of extension, Freight charges have been reduced, and generally the new season opens up with the brightest hopes, new Zealand's wants, To givo an impetus to the revival in this colony, there are two things which we require, to my mjnd, to accomplish. The first is that the affairs of the Bank of New Zealand f&ould bo finally settled, By the this is in print we shall probably bo 011 a fair way to seeing this accomplished. Tho next thing New Zealand requires is to rid itself of the present Ministry. The SeddonGovernmenthasbeenso thoroughly identified with tho worst depression on record, that until that Government ceases to exist, the depression will be assumed to be still with us. Confidence is a plant of slow growth, and capitalists who have lost confidence in the Colony, will, as long as JlrSeddonis at the head of tho alfairs, exercise extreme caution. lam not prepared to say that the present Government is responsible for the depression, but I do say that their actions have been such as to intensify tho depression. The Colonial Treasurer has much to answer for, and so has the Minister of Labour, who seems never tired of harassing the employers of labour. Let Now Zealand get clear of tho banking question and rid itself of tho Seddon Government, and a rovival in business will quickly follow. THE BANK QUESTION.

There is much speculation as to tho nature of the report to be subr niitted to the House by the Select Committee. In Wellington various absurd rumours are alloat, but tho general opinion seems to be that further assistance will be needed by tho Bank, but whether Parliament , will riso to the bait a second time has yet to be determined. The rank aud file of tho Liberal Party do not seem well disposed to the idea, many of them think that if the country needs a State Bank, it would be better to begin from the beginning rather than take over an institution like the Bank of New Zealand. A political organisation in Duneilin has sounded tlie first protest, and as this Society is of the 11 right colour" the Labour members will derive strength form > tho protest in any opposition they may show to fresh banking legislation, The opposition members of the House are not likely to vote blindly and will no doubt endeavour to score oif the Government, as the responsibility for the position rests with !&£eddon and his colleagues. CIEARIXG RAMUS. Mr Bradbury, of Sydney, who has just returned from ayisitto London, expresses an opinion which should be of considerable value in the Wairarapa, Mr Bradbury looks to export as the solution of the rabbit question, as London, Liverpool and Manchester can take all the rabbits Australia can send. Get rid of bunny by turning him into a marketable article, is the solution of tho difficulty, and to me it is surprising that some steps have not been taken in the Wairarapa, to deal with the' matter 6n the lines suggested ' b'y'the'Sydney expert. A ".Babbit Freezing-and Tinning Company" should find existence profitable- in llasterton, aud I aril 'sure it' the farmers and townspeople joined together the necessary capital could be found; the benefit would be mutual, The industry would accomplish the double object of finding work for many people and turning a ta>m waste into a profitable article. Tho question is worth looking at the point of view suggested by •^^Jjradbury. HIOZE.V MEAT. During tbe week there has been a weleomo advance in tho London price of frozen mutton. Lamb, bowever has receded |d. The movement is shown as under Aug, Aug, Move15th, 22nd. meat. First quality 3?d 4Jd EiicSd Second do 3gd M Riso |l Lamb 4d 3?d Fall Jd STOCKS.

Colonial Government stocks show a falling tendency. In the i per cants tbree denominations exhibit a decline while the others are without variation. The table of comparison is as follows Aug. Aug, Novell* rncnt, • New ZMlanil 1929 ... 113 112 _ N.Si "Wales 1933 Victoria 1920 ... 8, Australia 1030 ... 112 111? Fall 5a Queenaland 1924 ... UIJ 111 Fall 5s W, Australia 1934 ... 120 120 Jtho 3f per cents there has been for market, New Zealands having advanced 5s and South Australians 15s. Victorians and Tasmaniaus have dropped; the others are Unchanged.' 'The closing prices are eoqijarpd as u'pder!• : ' L ' " '''' "Aug, Aug, Move15th. 22nd. meet. New Zealand 1940 'lOOl 1064 Itieo 5s N.S. Wales .1921 ... 1074 107} - Victoria 1923 .. lOlf lOlf M-6a S, Australia 1930 105J M. Rlml6, Queensland 1924 «... 104 V Tasmania 1940 IN} 101 Fall 10f ' " Percy hsws,