THE FINANCIAL POSITION.

Gisborne Times, Volume XXVI, Issue 2375, 16 December 1908, Page 6

THE FINANCIAL POSITION.

A BRIGHTER OUTLOOK.-i ';

the position sound

[Special to ‘Times.”]

WELLINGTON, Doc; 10. Tiho “New Zealand' Tiiade 'Review’ says that although thcro is no appreciable. change in the. money market •it can ho claimed' that there is a (direct measure of brightening in the 1 outlook. The .improvement in the •prices of wool land the certainty of a record clip together with the prospect of an exceptional heavy output of dairy produce and the excel- ; lent rates that are being paid for these commodities give promise of ta I substantial improvement in, the total value of the exports of the Dominion for 1908-9. The price of wool however, still falls short of the values that ruled in 1906-7, while the exports of kauri gum and hemp, are certain to show a very serious fatling-olf from the figures of that period. There is, therefore, no hope of attaining the twenty million standard in the current year’s exports. On the other hand, continues the “Review,” we certainly 'look to see a reduction in the scale of our imports but any benefit from this direction will not be l’eilt for some little tiihe. The Dominion is undoubtedly sound hut will have to be content to go slow for a time. dChe chief difficulty is experienced in mection with transactions in land ich has reached an unreasonable el of .prices, both in rural and 3 an properties, and may with ad:itage be brought to a lower plane, e Advances to Settlers office is, we . informed, meeting a p pi! ica tio nis loans at the rate of £IOO,OOO ia nth, hut are limiting advances to 00 in each ease. The money used this purpose is, it is announced, ng' obtaine"d - f rom outside the minion.