MONEY TIGHTNESS.
AND LOCAL BODIES' LOANS. (By Telegraph.— special to -.«tar.") WELLINGTON, this day. The member for Palmerston North (Mr. J. A. Nash) suggested to the Government that it should this session legislate to enable local bodies, with the consent of ratepayers, to reduce the term of loans, also to pay up to six per cent interest. Mr. Massey replied that a reduction in the term of loans was being considered by the Crown Law Department, which was not quite sure it could be arranged. If it were possible a clause on this point would be inserted in the Finance Bill. As for the rate of interest, there was not so much difficulty about that as actually getting the money. He thought, even if eight per cent were paid, it would not get over the financial difficulty, and it was in the interest of the whole Dominion to keep down the rate.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/AS19210312.2.19
Bibliographic details
Auckland Star, Volume LII, Issue 61, 12 March 1921, Page 6
Word Count
152MONEY TIGHTNESS. Auckland Star, Volume LII, Issue 61, 12 March 1921, Page 6
Using This Item
Stuff Ltd is the copyright owner for the Auckland Star. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Auckland Libraries.
Log in