BRIDGING THE GAP
ENGLISH JOURNAL’S ADVICE. NEW ZEALAND SHOULD USE TREASURY BILLS. United Press Association—By Electric Telegraph—Copyright LONDON, June 24. “The Economist,” commenting on the New Zealand recovery, suggests that the future Budgetary policy should follow the Australian example of freely using Treasury Bills, even if counter to New Zealand’s banking conservatism. The gap between costs and prices is still considerable, while the producers’ income has fallen 40 per cent, since 1930. In the interval costs have been reduced only 20 per cent. The financial policy must, therefore, aim at a long period of regulated adjustment in order to take full advantage of the world markets, as further overseas borrowing and cuts in expenditure are impossible. The narrowing of the New Zealand export markets makes it vital that Britain should be induced to agree to reciprocal free trade. The value of the New Zealand market to Britain gives her strong bargaining power.
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Timaru Herald, Volume CXXXVII, Issue 19835, 26 June 1934, Page 10
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152BRIDGING THE GAP Timaru Herald, Volume CXXXVII, Issue 19835, 26 June 1934, Page 10
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