RESTRICTIONS ON CREDIT
Fear Of Excessive Curbs VIGILANCE URGED UPON GOVERNMENT (New Zealand Press Association) WELLINGTON, March 8. Credit restrictions should be closely watched and relaxed as soon as necessary, said the president of the Wellington Chamber of Commerce (Mr H. G. A. Swan) today. "To claim that the credit restriction programme has already performed its main task and should now be relaxed may be regarded as bold in some quarters,” said Mr Swan, “but it should not be overlooked that antiinflationary measures may, if not handled with constant skill and a sense of flexibility, degenerate into a process of deflation.” That could be particularly so if, in the ebb and now of the trade cycle, demand had already reached its peak and was turning to an ebb, he said. At such a time, a squeeze could quickly become a clamp. “Assurances have been given from
authoritative quarters which lead to the belief that, as soon as the over-all position warrants it, the restrictions will be relaxed. I trust these assurances are being borne in mind on a day-to-day basis,” Mr Swan said.
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Press, Volume XCIII, Issue 27913, 9 March 1956, Page 10
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183RESTRICTIONS ON CREDIT Press, Volume XCIII, Issue 27913, 9 March 1956, Page 10
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