CREDIT EXPANSION
IN NEW ZEALAND SINCE WAR BEGAN (0.C.) WELLINGTON, this dav. New Zealand's money supply has increased during the war to the extent of £42.800.000. This was disclosed in the annual report of the Reserve Bank, of New Zealand tabled in the House of Representatives last night. It was shown that the principal reasan for the increase had been that the Dommion's receipts from overseas since September. 1939, exceeded external expenditure by £22.300.000. as shown by the rise in the combined assets of the Reserve Bank and the trading banks during that neriod. Credit expansion in New Zealand was also a factor in the position, this being detailed in the report as follows;— Advances by the Reserve Bank increased by £9.800.000. holdings of securities in New Zealand by trading banks increased by £ 13.900.000. offset bv the fall in advances, which make the net increases £9.900.000; notes held by the public increased in amount since September, 1939. by £6.800.000.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/AS19420819.2.17.6
Bibliographic details
Auckland Star, Volume LXXIII, Issue 195, 19 August 1942, Page 3
Word Count
159CREDIT EXPANSION Auckland Star, Volume LXXIII, Issue 195, 19 August 1942, Page 3
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