LESS PRIVATE BORROWING
SYDNEY, Oct. 9. A sharp decline in new policy loans issued by life insurance societies has taken place during the war. In June, 1939, the total of such new loans granted was £227,000,000, and in June of the following year this figure was exceeded, new loans amounting to £230,000.000. The growth of incomes and of money in circulation is diminishing the demand for new loans, and the tendency is rather to repay old ones. In June, 1941, new loans totalled £171,000,000, while last June they amounted only to £81,000,000 In July the figure was lower still, at £ 78,000,000. The same trend of debt repayment is seen in the decline of trading bank advances, which totalled £264,000,000 last August, compared with £294,000,000 in August, 1939.
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Auckland Star, Volume LXXIII, Issue 241, 12 October 1942, Page 5
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127LESS PRIVATE BORROWING Auckland Star, Volume LXXIII, Issue 241, 12 October 1942, Page 5
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