NEW ZEALAND CREDIT BASIS
ESTABLISHMENT AT 31 PER CENT.
DOMINION’S SLOW IMPROVEMENT.
By Telegraph—Press Assn.—Copyright
London, July 17.
At a meeting of the National Bank of New Zealand Sir Austin Harris, who presided, said he did not doubt that as a result of the new l° an New Zealand’s credit would be established on a 3J per cent basis. New Zealand had striven manfully to meet her difficulties, but could not expect any return to complete normality until some of the world’s problems of price levels and trade, restrictions had been solved. Bankers were going through a lean time, but he was confident that New Zealand conditions would quickly respond to any favourable turn in world affairs and large liquid resources enable the bank to take full advantage when the time came. Sir James Grose, general manager, said that, taking the Dominion as a whole, some confidence was beginning to appear, though the lean, times had not yet passed. A gradual if slow improvement could be expected.
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Bibliographic details
Taranaki Daily News, 20 July 1934, Page 7
Word Count
167NEW ZEALAND CREDIT BASIS Taranaki Daily News, 20 July 1934, Page 7
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