ADVICE TO N.Z.
SHOULD USE MORE TREASURY BILLS. “ Economist’s ” Suggestion. GAP BETWEEN COSTS AND PRICES STILL LARGE. United Press Assn.—By Klectrlc Telegraph—Copyright. (Received June 25, 10.10 a.m.l LONDON. June 24. The “ Economist,” commenting on New Zealand recovery, suggests that her future budgetary policy should follow the Australian example of freely using Treasury Bills, even if this is counter to New Zealand banking conservatism. The gap between costs and prices is still considerable. While producers of income have fallen 40 per cent since 1930, internal costs have been reduced only 20 per cent. Financial policy must, therefore, aim at a long period of regulated adjustment in order to take full advantage of the world markets, as further overses borrowing and cuts in expenditure are impossible. The narrowing of New Zealand’s 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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https://paperspast.natlib.govt.nz/newspapers/TS19340625.2.22
Bibliographic details
Star (Christchurch), Volume LXVI, Issue 20340, 25 June 1934, Page 1
Word Count
159ADVICE TO N.Z. Star (Christchurch), Volume LXVI, Issue 20340, 25 June 1934, Page 1
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