CHEAP MONEY
NEW ZEALAND’S GREAT NEED. (From our Parliamentary Correspondent) WELLINGTON, This Day. While discussing the Rural Credit Bill in the House on Saturday night, the Prime Minister said the great need in NevV Zealand to-day was cheap money. He had been in communication with the associated hanks and as a result of a conference held that morning, lie was able to announce that the banks had agreed to reduce the rale of interest by 2 per cent , from Ist January next. That would make the rate 61,- per cent. Referring to the London money market, he said lie be!icved_ money was'■‘going to be cheaper.’’ Judging from communications ho had received, he bglieved that the next time New Zealand went on the market, which would be in about five months, a loan would be issued at 4i per cent. 1
The Rural Credit Associations and Friendly Societies Bills were passed.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/NEM19221030.2.41
Bibliographic details
Nelson Evening Mail, Volume LVI, 30 October 1922, Page 5
Word Count
150CHEAP MONEY Nelson Evening Mail, Volume LVI, 30 October 1922, Page 5
Using This Item
Stuff Ltd is the copyright owner for the Nelson Evening Mail. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.