BRITISH FISCAL SYSTEM.

Manawatu Standard, Volume XLIII, Issue 1716, 6 January 1920, Page 5

BRITISH FISCAL SYSTEM.

ALTERATION NOT LIKELY,

MR BEAUCHAMP’S VIEWS, Per Press Association, AUCKLAND, Jan. 5. Mr Harold Beauchamp, President of Directors of the Bank of New Zealand, interviewed, said he thought there was very little chance of any alteration of the fiscal system in the Old Country. In the minds of most people protection would enable manu- • facturers to indulge in profiteering to the same extent as they did during the war, while free trade, witli its inevitable competition, would force down the prices of ts sential commodities. He confessed to viewing with concern Servian and other competitors in Groat Britain, but said it was quite impossible'to get the people of the Old- Country to sec eye-to-eye with one on this question. ■ Personally he thought 'we wore in for an era of dear money, especially in Europe and the United States It would be interesting to see how long it would be before there was a reflex action in this Dominion, which, owing to very lorge surplus of exports over imports in the past -six nr seven years, had continued in such^enviable financial ease. Money, like water, had a tendency to find its own level.