INTEREST RATES.
A REDUCTION URGED. DUNEDIN, Wednesday. The necessity of bringing about a reduction in interest rates lias been brought before the Prime Minister by tho Mayor of Dunedin, Mr R. S. Black. In a letter Mr Black said the opinion appeared to lie prevalent that the present crisis was accentuated by Ihc high rate of interest ruling, and that if some reduction could he effected there would be an immediate improvement In the general economic position. It appeared to him that if the Government, the savings banks, the associated hanks and all financial institutions would jointly agree to reduce t lie rate of interest by 1 per cent., the moral and practical effect on the economic life of I lie Dominion would lie immediately fell.
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Waikato Times, Volume 109, Issue 18346, 4 June 1931, Page 7
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126INTEREST RATES. Waikato Times, Volume 109, Issue 18346, 4 June 1931, Page 7
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