CREDIT OF AUSTRALIA.
MORATORIUM FOR FARMERS. EFFECT IN AMERICA. NEW YORK, Dec. 31. The publication throughout the country by the United States Department of Commerce of its regular trado review from Sydney, which asserts that owing to the conditions of farmers in New South Wales a moratorium has been declared until April, 1933, has resulted in the Australian High Commissioner's office here being besieged by inquiries from bankers and business men. These declare that Australia's credit is seriously damaged by the use of the word "moratorium." Mr. Dow, the official secretary, has sent a cablegram to Canberra for detailed information to supply to inquirers. The Lang Government recently passed a measure enacting a moratorium for fanners, as well as for persons buying homes on the instalment principle. The Act prevents foreclosure until 1953, and limits the rates of interest.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/NZH19310102.2.106
Bibliographic details
New Zealand Herald, Volume LXVIII, Issue 20761, 2 January 1931, Page 10
Word Count
139CREDIT OF AUSTRALIA. New Zealand Herald, Volume LXVIII, Issue 20761, 2 January 1931, Page 10
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.