NATION CAN PAY
WELL WITHIN ITS CAPACITY
MR. J. M. KEYNES'S OPINION
(Received February 26, 9.50 a.m.)
LONDON, February 25.
Mr. J. M. Keynes, presiding at the annual meeting of the National Mutual Assurance Company, emphasised that the re-armament loan is well within the nation's "capacity and that there is no reason why it should pay more than 3 per cent, interest. He points out that it is a popular error to suppose that money is now exceptionally cheap. On the contrary, there has not been a single five-year period between 1837 and 1914 when the average yield from, long-term gilt-edged securities has been as high, yet our i existing capital per head is 50 per cent, greater. The sinking funds of public boards, the huge repayments building societies are collecting, the steady growth of savings banks "deposits, and the large sums industry is putting to reserve from profits should amount to over £400,000,000 in a single year.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/EP19370226.2.65.2
Bibliographic details
Evening Post, Volume CXXIII, Issue 48, 26 February 1937, Page 9
Word Count
158NATION CAN PAY Evening Post, Volume CXXIII, Issue 48, 26 February 1937, Page 9
Using This Item
Stuff Ltd is the copyright owner for the Evening Post. 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.
Log in