HIGH RATE OF INTEREST.
A SOUTH ISLAM) SUGGESTION. WAIPA'S SUPPORT ASKED FOR. At Tuesday's meeting of the Waipa County Council 'support was asked for by the Ashbu'rton County Council to the following resolution: — "That this council views with alarm the high rate of interest on money in this Dominion, which is bound to cause stagnation and depression in. stead of progress and prosperity. Seeing that the price of primary products of this country, such as wool, beef, and mutton have fallen to such an alarming extent that, with the high rate of interest and burdensome taxation, it is almost impossible for the producer to carry on, is it not possible for the Government to use it great influence in trying to bring the rate of interest in this country somewhere on a level with that of Great Britain? The Council need not stress the point that this, being/ a young country, needs cheap money for developing purposes.. The high cost of living cannot be modified while interest is so high." The council decided not to take action.
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Bibliographic details
Waipa Post, Volume XX, Issue 1127, 11 August 1921, Page 2
Word Count
177HIGH RATE OF INTEREST. Waipa Post, Volume XX, Issue 1127, 11 August 1921, Page 2
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