A WARNING AGAINST SPECULATION
OPTIMISM OF MR REGINALD M'KENNA
LONDON, January 26
Mr Reginald McKenna, presiding at the annual meeting of the Midland Bank, uttered a warning against excessive speculation. There were at present no signs of speculative mani-i developing in Britain, and for this reason the banks should use the opportunity to prevent the possibility. They had the power to restrict credit to legitimate trade and to refuse easy money to speculators. The general recovery in business had not yet ended. Though last year's rate of expansion might not be maintained there were no signs of the expansion leading to dearer money. 'The banks had a wide margin of resources available for advance, should greater demands be made on them. The* future could be viewed with confluence. World trade promised to recover further if peace were maintained.
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Press, Volume LXXIII, Issue 22002, 28 January 1937, Page 10
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138A WARNING AGAINST SPECULATION Press, Volume LXXIII, Issue 22002, 28 January 1937, Page 10
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