GIGANTIC FINANCIAL RESOURCES
MUST BE UTILISED. (Rec. June 22, 1.50 p.m.) LONDON, June 21. Mr McKenna appealed to the patriotism of the country to use its gigantic financial resources, to enable us and our Allies to carry on the war to a successful issue. In the earlier stages of the war the Bank of England w'ith the Government guarantee, made advances to accepting houses and others to enable them to meet- bills and .liabilities. This amounted to £120,000,000, but the liability had been now reduced *to well under £50,000,000. He nqw proposed to pav off the Bank from the surplus of the £80,000,000 4oan. It would thus leave the Bank free t to watch ■ over exchanges and. protect the country s gold reserves.
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https://paperspast.natlib.govt.nz/newspapers/NEM19150622.2.25.4.3
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Nelson Evening Mail, Volume XLVIII, Issue XLVIII, 22 June 1915, Page 5
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123GIGANTIC FINANCIAL RESOURCES Nelson Evening Mail, Volume XLVIII, Issue XLVIII, 22 June 1915, Page 5
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