CHEAPER MONEY.
Must Lead to Development of Industry. “TOO MUCH BOTTLED UP." (Special to the “ Star.”) DUNEDIN, Mav 4. “ There is no doubt that the world is entering an era of low interest rates,” stated a well-known Dunedin business man in reference to the reduction in interest rates hinted at by Mr Coates. “ A position is going to be created that there must be a development of industry and a release of capital for enterprise. Money is crying for cutlets and people want cheaper money. Present interest returns have bottled up a great deal of money that is positively asking for enterprise.” The business man added that the talk of interest reduction was a sign that New Zealand was following the lead of the Old Country. The only thing we must be careful about was not to swing back too far. Reduced interest rates would have a detrimental effect on the borrowing powers of the Government, as money which otherwise would be invested in Government loans would be diverted into industry.
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Bibliographic details
Star (Christchurch), Volume LXVI, Issue 20296, 4 May 1934, Page 4
Word Count
171CHEAPER MONEY. Star (Christchurch), Volume LXVI, Issue 20296, 4 May 1934, Page 4
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