MONEY NOT CHEAP.
INVESTMENTS IN BRITAIN.
CENTURY’S HIGHEST AVERAGE
(United Press Association —Copyright.) (Received This Day, 11.45 a.m.) LONDON, February 25. Mr J. M. Keynes, ‘presiding at the annual meeting of the National Mutual Assurance Association, emphasised that the rearmament loan was well within the nation’s capacity. There was no reason why it should nay more than three per cent. He pointed out that it was a popular error to suppose that money was now exceptionally cheap. On the contrary, there was not a single five-year period between 1937 and 1914 when the average yield on long-term gilt-edged securities was as high. Yet our existing capital per capita was 50 per cent, greater. The sinking funds of public boards and huge repayments to building societies wei‘e collecting the steady growth of savings banks deposits. Large sums tjiat industry was putting into reserve from profits should amount to over £400,000,000 in a single year.
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Ashburton Guardian, Volume 57, Issue 116, 26 February 1937, Page 5
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153MONEY NOT CHEAP. Ashburton Guardian, Volume 57, Issue 116, 26 February 1937, Page 5
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