THE CREDIT SQUEEZE
Sir, —Two items of interest from “The Press” today. One, Mr Nash speaking at Thames: “There are times when unemployed labour and unused materials justified governments making money, but today there was more money in circulation than goods to buy.” Mr A. D. Bell, chairman, speaking at the annual meting of shareholders of the Farmers’ Trading Company, Ltd., Auckland: “The most positive result from the recent hire purchase regulations was the considerable drop in hire purchase sales.” From this it would appear that we have at the same time “more money in circulation than goods to buy,' and more goods seeking buyers than buyers seeking goods. Maybe every house contains a refrigerator, washing machine, etc., or maybe the circulation of money is not working properly.—Yours, etc., L. J. SPENCE. June 28. 1956.
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Bibliographic details
Press, Volume XCIII, Issue 28008, 30 June 1956, Page 5
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135THE CREDIT SQUEEZE Press, Volume XCIII, Issue 28008, 30 June 1956, Page 5
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