CHEAP MONEY.
According to Mr Duthie the Government will not be able toborrrowat per cent. The moment they attempt to borrow, down goes their credit. Besides, cheap money, he contends, can only be had where there is satisfactory security, and the harassing legislation of recent years has produced higher rates of interest. Even tho Premier cannot regulate the price of money. A few years ago the average rate of interest was 5£ per cent., with 6 J per cent, as an extreme. Bub now the rate was 1£ per cent, higher, the, increase being entirely due to the recklessly harassing policy of the present Government. Tue only method of reducing the rate of interest was by guaranteeing peace and security for the development ot enterprise.
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Bibliographic details
Press, Volume LI, Issue 8867, 9 August 1894, Page 5
Word Count
125CHEAP MONEY. Press, Volume LI, Issue 8867, 9 August 1894, Page 5
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