DEARER MONEY.
The speech of the chairman of directors of the Bank of New Zealand at tlio half-yearly meeting' of shareholders can leave little doubt that Ihe era of cheap money is at an end. and that the rates of interest on advances will be substantially increased. Xot only so. but advances for all but essential industries will bo considerably restricted. The reduction in our revenue, occasioned by the dislocation of the markets, and the heavy demands made by the Government, have rendered the adoption of n conservative policy an absolute necessity. The effect of (lie tightening of money Avill be lo create considerable unemployment. Tli is will be a most regrettable development. On the other hand, (he orgy of extravagance will cease, and people will be compelled to practise thrift and industry. Tli is -will produce wholesome results, and will lend to ultimately strengthen the position of the Dominion.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/WAG19201213.2.10
Bibliographic details
Wairarapa Age, 13 December 1920, Page 4
Word Count
150DEARER MONEY. Wairarapa Age, 13 December 1920, Page 4
Using This Item
National Media Ltd is the copyright owner for the Wairarapa Age. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of National Media Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in