"MENDACIOUS AND MEAN."
CAUSE OF BIRKBECK BANK FAILURE.
I j), I< |( 'i'Kf.KMBAf H —(vOPTHIIIIIX j • (Per Pnuss Association.! LONDON, June 15. Mr Lloyd George, in the House of Commons, said the Board of trade-in-formed him that the Birkbeck Bank failure was due to I,he depreciation of values of securities lioku Newspaper statements that tho failure was in any way attributable to the Liberal Government's finance I'.olicv was both mendacious and mean. ' Mr Lloyd-George quoted tho Birkbeck Bank's accountant's statements showing that tho greatest fall in investment occurred at tho time of tho Boor war, when tho reserves were ample to covor every bit of scrip. The depreciation was due more to tho extension of trustee investments to colonials. The Chancellor concluded by stating that Birkbeck holdings show a greater depreciation from the ovo of tho Boer war to tho end of tho Union Government than sinco 1909. Therefore the allegation that the failure was due to something occurring sinco 1909 was an unqualified falsehood.
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Bibliographic details
Manawatu Standard, Volume XLI, Issue 9539, 16 June 1911, Page 5
Word Count
164"MENDACIOUS AND MEAN." Manawatu Standard, Volume XLI, Issue 9539, 16 June 1911, Page 5
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