LONDON AS LENDER.
REMOVING RESTRICTIONS. ATTITUDE OF GOVERNMENT. Australian and N.Z. Cable Association. CRecd. 5.5 p.m.) LONDON. Oct. 7. The city editor of the Daily Express says there is reason to believe the Government is wavering in its attitude toward foreign loans, and will shortly remove the embargo and allow the money market to function without restriction. At present, money is being kept cheap by artificial means, the Government arguing that the country cannot afford to give foreigners assistance, which will mean heavy gold shipments from Britain and a high bank rate in London. Already this year New York has loaned £150,000,000 abroad, getting the borrowers to spend the bulk of the money in the United States. If London had similar opportunities much of this money might be sent from LondonThis would not only encourage British trade, but would preserve London's control as the financial centre of the world.
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Bibliographic details
New Zealand Herald, Volume LXII, Issue 19144, 9 October 1925, Page 9
Word Count
149LONDON AS LENDER. New Zealand Herald, Volume LXII, Issue 19144, 9 October 1925, Page 9
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