"AMPLE STRENGTH"
NEW ZEALAND BANKING
The monetary policy of New Zealand is reviewed by a New Zealand correspondent in "The Times" Trade Supplement. Referring to the overseas funds of the Reserve Bank and the trading banks the review states 'that these have been reduced in the year in part by the redemption of London debt and in part by a marked revival of import trade. The reduction, though large, is described as "not excessive. Credits accumulated abroad when the rate of exchange was raised, and the recent movement of funds tends to restore a v normal distribution. In the meantime the position remains one of ample strength. This applies, indeed, tobanking conditions generally. Funds 1 are available for all sound enterprises. Finance imposes no check on the progress of steady recovery and the need for the creation of new money is not apparent. The risk of the future lies in the control of credit if an attempt is made to use monetary power to speed up prosperity without lull account of the consequences."
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/EP19370907.2.147.9
Bibliographic details
Evening Post, Volume CXXIV, Issue 59, 7 September 1937, Page 14
Word Count
173"AMPLE STRENGTH" Evening Post, Volume CXXIV, Issue 59, 7 September 1937, Page 14
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