RESTRICTIONS ON LOANS.
BRITAIN MAY DROP THEM. NOT GOOD FOR TRADE. BY CABLE—PRESS ASSOCIATION—COPYRHIGT. LONDON, Oct. 7. The city editor of the Daily Express says there is reason to believe that the Government is wavering in its attitude towards foreign loans and will shortly remove the embargo and allow the money market to function without restriction. 1
At present • money is being kept ‘cheap by artificial means, the Government arguing that the country cannot afford to give foreigners assistance, which will mean heavy gold shipments from Britain and high bank rate in London. Already New York in 1925 has loaned £150,000,000 abroad, getting borrowers to spend the bulk of the money in the United States. If London had similar opportunities, much of this money might be sent from London, not only encouraging British trade, but preserving. London’s control as the financial centre of the world.
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Hawera Star, Volume XLV, 9 October 1925, Page 5
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145RESTRICTIONS ON LOANS. Hawera Star, Volume XLV, 9 October 1925, Page 5
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