"BANKS FULL OF MONEY”
LARGE TRADE SURPLUS. DUNEDIN, This Day. at a meeting of the trustees of the Executors and Agency Company, Mr A. C. Stephens, solicitor, said there was no denying the argument that general conditions had been acT verse. Unemployment was a fairly good index of the prosperity of a community. That statement had been challenged, but a professor of economics from Melbourne University had agreed with him that it was perfectly sound. Unemployment had-existed to an 'extent rarely if ever before experienced.
The chairman said the outlook was promising. He hoped ami believed that that was true, but in the meantime they had .the .extraordinary spectacle of a large surplus. The banks were full of money. Unemployment, of course, was a passing phase, but it seemed to be lasting longer than usual. “However,” concluded the chairman, “our political doctors are attending to the patient. They think they have diagnosed the diseased, and I hope they have.”
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Northern Advocate, 24 May 1929, Page 7
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159"BANKS FULL OF MONEY” Northern Advocate, 24 May 1929, Page 7
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