STATE HOUSING FINANCE
ACCOMMODATION FROM RESERVE BANK DIRECTORS’ EXPLANATION . ( [From Our Parliamentary Reporter.] WELLINGTON, July 26. The manner in which finance has been provided for the Government’s housing construction scheme is the subject of a brief explanation in the annual report of the board of directors of the Reserve Bank of New Zealand, which was presented in the House of Representatives to-day by the Minister for Finance (the Hon. W. JsjQSh'), It is stated in the report that at the end of the financial year advances by the bank to the State or State undertakings under the heading other purposes” were nil. “During the year,” the report continues ‘‘accommodation granted against Treasury bills in connexion with the Government’s housing scheme rose from £IOO,OOO to £1,300,000. In the month of March, however, when the Government balances were swollen as a result of revenue collection, the Treasury utilised some of the available funds by temporarily relieving the bank of all Treasury bills which had been taken up in this connexion.’
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Press, Volume LXXIV, Issue 22464, 27 July 1938, Page 12
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168STATE HOUSING FINANCE Press, Volume LXXIV, Issue 22464, 27 July 1938, Page 12
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