“Who Is Lending What To Whom?”
Sir, —In a recent issue of “The Press” there appears an article under the above heading from the “Financial Times.” The subject matter is of little importance to those who know how borrowers must save on their interest bill by lending daily balances on the short-term money market The intriguing part is that the “Financial Times” should be pulling our legs by introducing us to a highfaluting organisation, the British Institute of Fuddy-Duddies. It holds weekly competitions, probably weakly, and issues medals to successful writers. In this case the winner was an understrapper of the academy of central bankers who took over while his boss was holidaying in the Himalayas, probably emulating Gordon Coates who went to Waihao Glacier to do some thinking at the depths of the slump. Perhaps we might yet see the New Zealand Institute of Frothy Whafflers set up to guide the Southern Cross.—Yours, etc., W. B. BRAY. Leeston, August 24, 1960.
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Bibliographic details
Press, Volume XCIX, Issue 29293, 26 August 1960, Page 3
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162“Who Is Lending What To Whom?” Press, Volume XCIX, Issue 29293, 26 August 1960, Page 3
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