"THE LAST STRAW."
f \ HIGXX& SAJTX KATZ. ■ MAYOR TELLS FARMERS. L. ■ ■■ ■ t 07 TelesTtpb.—JPrtw A«#ocUUoa.i %> CHRISTGHURCH, this day. At a welcome to 300 visiting Otago jferaers to-day, the Mayor, the Rev. J. <L Archer, said "The last straw to break flw camel's back is the extraordinary *n<l unjustifiable action of the banks of tew Zealand. It is quite O.K. lor them * P*y VMXt interest on money paid in, iut they are going to charge 7 per cent or money loaned, and the worst feature ■ that that will be charged for money >n which they pay no interest, namely, loose deposits. The interest rate qn fixed deposits has been increased by only jkalf per cent." "Vicious," came an interjection. Mr. Archer added that farmers would PI well advised to give serious thought to the banking position in New Zealand, *od he was speaking as a political econoferiat of thirty years. There was a banking monopoly in the Dominion, and it pad the support of the Government.
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Bibliographic details
Auckland Star, Volume LVIII, Issue 109, 11 May 1927, Page 10
Word Count
165"THE LAST STRAW." Auckland Star, Volume LVIII, Issue 109, 11 May 1927, Page 10
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