BALANCE OF TRADE.
(To tbe Editor.) Sir, —I notice that a leading financial expert in Auckland, on being interviewed stated that the Dominion's increased importation was dearly due to the prosperity of the year just passed. Sir, the inflated importation was solely due to the fact that during 1910-11 Sir Joseph Ward borrowed in England some six millions sterling, for the Old Country will give credit for an almost unlimited amount provided that credit is taken out in commodities, and that no coin, or at least very little specie, is asked for—consequently big, borrowing entails excessive important, not of money, but of goods. “ Hino illae lacriaiae.” —I am, etc., H- J-
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Bibliographic details
Auckland Star, Volume XLII, Issue 191, 12 August 1911, Page 9
Word Count
111BALANCE OF TRADE. Auckland Star, Volume XLII, Issue 191, 12 August 1911, Page 9
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