THE MONEY MARKET.
OPTIMISTIC REMARKS BY MR COATES. WELLINGTON, May 9. New Zealand's achievement in testing out the world’s money market and brea£ ing down the rate of interest that has held far some years was commented on by the Prime Minister (Mr J. G. Coates) in the course of his address before a gathering held to-night under the auspices of the Wellington North branch of the Junior Reform League. “ I feel convinced/’ said the Prime Minister. “ that so far as our country is concerned we are on the verge of an era of steady prosperity. This does not necessarily mean boom times or anything approaching that, but everything seems to be gradually clearing up. It is a matter of considerable pride that during the last few weeks New Zealand has stood the test of the searchlight of the keenest financial brains in the world. New Zealand was chosen to test the money market of the world. We had the -opportunity to avoid that test, but we had sufficient confidence in the status of the country to believe that if our past status and credit were tried out on the market we would he able to accomplish the breaking of the interest rate that has held for the last four or five years. This object was attained by a result that redounds to the credit not only of New Zealand but of every individual in it.”
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Bibliographic details
Otago Witness, Issue 3870, 15 May 1928, Page 35
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236THE MONEY MARKET. Otago Witness, Issue 3870, 15 May 1928, Page 35
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