National Debt Up 15 Per Cent. In 5 Years
i' Per Press Association. —Copyright.) WELLINGTON, This Day.
In his presidential .address at the annual meeting of the New Zealand Society of Accountants, Mr W. H. Nankervis said that one still bore in mind the statement made during the election campaign in 1935 that the public debt had got out of bounds.
Yet within the last five years an increase of nearly 15 per cent had been seen. This was exclusive of funds to assist the war effort which it was reasonable to place under a different heading.
The greatly increased facilities created for the Government to borrow at very low rate of interest during the past five years had lessened the current cost of Government financing, but had tended to make the people, and even the Government itself, indifferent to the steadily mounting Government debt, and tended to create illusions as to the eventual burden in carrying a constantly increasing debt.
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Northern Advocate, 27 February 1941, Page 8
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161National Debt Up 15 Per Cent. In 5 Years Northern Advocate, 27 February 1941, Page 8
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