RATES OF INTEREST
AND LOCAL BODIES' LOANS. Tho Prime Minister (Mr. Massey) stated yesterday that the Government would consider on their merits any applications that might be made for'the variation of the terms of local bodies' loans-. The Government had power under the legislation of last session to permit an increase.in the rate of interest if the money, could not be obtained on the terms originally specified, but permission would depend upon the urgency of the purpose for which the money was required. The policy of the- Government, as he had stated several times- in Parliament, was to keep down rates' of Interest.
The attention of the Primß Minister was drawn to the fact that the Wellington City Council had not been able to rais9 money on the terms stipulated In its present loan authorisations. Mr. Masey said this would bo matter for consideration when an application for permission to offer an increased Tate of interest % reached the Government He recognised that, in the cnt?e of renewals of loan 9 the money had to bo raised.
Permanent link to this item
Hononga pūmau ki tēnei tūemi
https://paperspast.natlib.govt.nz/newspapers/DOM19201201.2.22
Bibliographic details
Ngā taipitopito pukapuka
Dominion, Volume 14, Issue 57, 1 December 1920, Page 7
Word count
Tapeke kupu
176RATES OF INTEREST Dominion, Volume 14, Issue 57, 1 December 1920, Page 7
Using this item
Te whakamahi i tēnei tūemi
Stuff Ltd is the copyright owner for the Dominion. 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 Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in