PRINCIPLES OF CREDIT
ADDRESS BY HON. W. DOWNIE STEWART. (Special to “Northern Advocate,”) AUCKLAND, . This DayAddressing the Credit-inch’s Club at luncheon today, Air ■ Downie Stewart said: “ Credit is a most delicate plant, that shrinks and withers at the least indication of relaxation of high standards. ’ ’ Auckland had recently provided an example. He understood that owing to doubt concerning the intentions of -certain local bodies, no Auckland stock could be cpioted on the London Stock Exchange, That meant that their -credit was in suspense in London. Similar principles applied in a- wider sphere to State credit, also international credit. It w r as often asked why Now' Zealand should •worry about London financiers, and be under the domination of Britain, but that, view would be tenable only if the Dominion did not trade with Britain, and.did not raise finance in London.
“We cannot take the money, of London financiers, and then ignore the rules they lay down.”
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Northern Advocate, 21 March 1934, Page 5
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156PRINCIPLES OF CREDIT Northern Advocate, 21 March 1934, Page 5
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