PUBLIC DEBT IN AMERICA.
HUGE LOCAL BORROWING. Although the United States Government debt has been reduced by more than £1,400,000,000 since 1919, this reduction has been more than offset by the tremendous volume of State and municipal issues, says the National Bank of Commerce in New York. Since the beginning of 1920 flotations of State and municipal bonds have aggregated about £1,600,000,000, and it seems a safe assumption that at least £200,000,900 more have been disposed of by private offering or otherwise omitted from reports. This constitutes a shift from obligations having the widest possible market and eligibility at the Federal reserve banks to a mass much less liquid in character.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/NZH19270131.2.131
Bibliographic details
New Zealand Herald, Volume LXIV, Issue 19549, 31 January 1927, Page 12
Word Count
111PUBLIC DEBT IN AMERICA. New Zealand Herald, Volume LXIV, Issue 19549, 31 January 1927, Page 12
Using This Item
NZME is the copyright owner for the New Zealand Herald. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons New Zealand BY-NC-SA licence . This newspaper is not available for commercial use without the consent of NZME. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Auckland Libraries and NZME.
Log in