MONEY AND SPENDING
Sir, —I have read ■with interest the series of letters headed " Money and Spending." I feel sure that " Sound Finance." though being so cocksure, is in considerable error. 1 would give an instance as illustration. From two to three years ago I required the assistance of an overdraft to carry on my business. To-day I am doing 100 per cent more in turnover and with no overdraft. Surely this means more money in circulation that is not reflected in bank advances. Others assure me that the same conditions apply in their cases. As these transactions are carried on chiefly by cheque, the effect is the same as more money in circulation, but for the life of me I cannot see how it is reflected in bank advances. These conditions obtaining over many thousands of businesses would cause more money in circulation without any more advances. llather a contraction of them. Small Business.
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New Zealand Herald, Volume LXXIV, Issue 22805, 12 August 1937, Page 15
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155MONEY AND SPENDING New Zealand Herald, Volume LXXIV, Issue 22805, 12 August 1937, Page 15
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