THE CREDIT SQUEEZE
Sir, —There is no such thing! Antiinflationary necessity, would be a more appropriate slogan. It is either the restriction of bank credit, except advances of actual community savings, and higher rates of interest —or rising prices. We cannot have it both ways. llf interest is low prices rise and we pay more for homes and goods. This cannot be denied. Then general rise in prosperity over the last five years has been phenomenal. I know, because I have made the required observations. Of course, many have missed prosperity. On the 'whole, the National Government has done a good job. Mr T. P. Shand’s Gisborne address was straight to the point. We must save more while we are building hydroelectric works, roads and bridges—termed capital development. Young people earning good money should invest in the £10.000.000 loan. They will want this money when they marry, so why waste it now? —Yours, etc., RALPH S. WHEELER. Timaru, June 21, 1956.
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Press, Volume XCIII, Issue 28002, 23 June 1956, Page 5
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161THE CREDIT SQUEEZE Press, Volume XCIII, Issue 28002, 23 June 1956, Page 5
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