LIQUIDATING DEBT.
Scheme Froposed by Mr S. G. Holland. Per Press Association. WELLINGTON, April 17. Evidence was given before the Monetary Committee to-day by Mr S. G. Holland, of Christchurch, who produced a scheme for the liquidation of the internal national debt, claiming that it could be accomplished without breaking or varying a single existing contract, without affecting New Zealand’s credit abroad and without any extra currency being in circulation when the plan was completed. The scheme involves the issue of about £5,000,000 yearly in notes by the Reserve Bank on behalf of the State. The witness said that one expert whom he had consulted estimated that there would be inflation to the extent of about 15 per cent.
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https://paperspast.natlib.govt.nz/newspapers/TS19340418.2.43
Bibliographic details
Star (Christchurch), Volume LXVI, Issue 20283, 18 April 1934, Page 3
Word Count
119LIQUIDATING DEBT. Star (Christchurch), Volume LXVI, Issue 20283, 18 April 1934, Page 3
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