FINANCE IN BRITAIN
Inflation Danger Seen
LONDON. May It!.
The Treasury's increasing resort to borrowing from the banks caused deposits in clearing banks to rise to a new record level of £2.828,500,000 last
month. Financial experts say that expansion of bank deposits is not necessarily proof of inflation but regard the rapidly-rising trend uneasily, especially in view of the continued increase in the note circulation.
The tT.-ancellor of the Exchequer, Sir Kingsley Wood, strongly refutes the suggestion that the increase in the fiduciary issue involves the danger of credit expansion at present. Some authorities in the money market urge Unit the fiduciary issue should be further increased. They advocate a system of “staggering” wage payments as a moans of obviating the necessity for issuing now notes.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/DOM19410519.2.52
Bibliographic details
Dominion, Volume 34, Issue 198, 19 May 1941, Page 8
Word Count
126FINANCE IN BRITAIN Dominion, Volume 34, Issue 198, 19 May 1941, Page 8
Using This Item
Stuff Ltd is the copyright owner for the Dominion. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.