LOAN MONEY
HOW IS IT TO BE RAISED?
(By Telegraph—Press Association.) AUCKLAND, August 2. There was practically no reaction on the Auckland Stock Exchange today to the Budget. Apparently something drastic was expected by the general body of investors, ai.d prices of New Zealand investments have been kept at comparatively low levels as a precautionary measure. It is expected that business for the time being, however, is likely to be somewhat quieter. After a meeting the committee of the Auckland Stock Exchange issued the following statement:— "It is a matter for regret that the Government has not sufficiently appreciated the financial position of the country to initiate some immediate curtailment of public expenditure, continuation of which operates against the encouragement of private industry, the main source from which taxes are forthcoming. No mention is made as to how the required balance of loan money is to be raised. An amount of the magnitude of that required must hang as a cloud over the investment market till the position is clarified."
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Bibliographic details
Evening Post, Volume CXXVIII, Issue 29, 3 August 1939, Page 7
Word Count
170LOAN MONEY Evening Post, Volume CXXVIII, Issue 29, 3 August 1939, Page 7
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