REDUCTION IN COSTS.
VITAL NEED OF INDUSTRY. MR. MONTAGU NORMAN'S VIEW. (Received May 6, 8.25 p.m.) ' LONDON. Ma*- 6. It has become known that informal discussions occurred at the House of Corm- a mons between Mr. Montagu Norman, governor of the Bank of England, a group of Labour members, who expressed the opinion that the remedy lay in central banking action, aimed at the restoration of price levels. Mr. Norman is understood to hava denied that there was any royal road to prosperity via currency regulation, and that banking circles held that the main hope lay in a reduction in manufacturing costs, not only in the basic industries, but in the more prosperous trades, particularly in the sheltered industries, which hitherto had resisted l the depression. In these costs were included the soaring overhead charges and high taxation.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/NZH19310507.2.105
Bibliographic details
New Zealand Herald, Volume LXVIII, Issue 20866, 7 May 1931, Page 9
Word Count
138
REDUCTION IN COSTS.
New Zealand Herald, Volume LXVIII, Issue 20866, 7 May 1931, Page 9
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.
This newspaper was digitised in partnership with Auckland Libraries and NZME.
Log in