THE CHEAP MONEY SC HEME.
Press Association— By Telegraph— Copy rieht. Sydney, September 11.
The Herald and Telegraph, commenting on the New Zealand cheap money scheme, consider that the margin between the borrowing and lending rate is too narrow to provide for bad debts and working expenses.
They foresee the contingency ot danger, owing to political control by mortgagors combining to obtain relief under the slightest pretext. -The Herald considers that the working of the scheme must add largely to the expenditure of the colony, and that it has yet to be shown whether, if the transactions are carried out on such lines as would speedily bring a private company into liquidation, reconstruction can aafely be undertaken by the Government. The- Telegraph terms rhe measure the New Zealand Demoralisation Bill. It thinks it likely enough to stimulate settlement, but equally certain to provoke extravagance. It predicts that in 10 years such a measure will prove disastrous to the credit of the Government and demoralising to the people.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/OW18940913.2.31
Bibliographic details
Otago Witness, Issue 2116, 13 September 1894, Page 13
Word Count
167THE CHEAP MONEY SCHEME. Otago Witness, Issue 2116, 13 September 1894, Page 13
Using This Item
No known copyright (New Zealand)
To the best of the National Library of New Zealand’s knowledge, under New Zealand law, there is no copyright in this item in New Zealand.
You can copy this item, share it, and post it on a blog or website. It can be modified, remixed and built upon. It can be used commercially. If reproducing this item, it is helpful to include the source.
For further information please refer to the Copyright guide.
Log in