CHEAP MONEY.
We learn from a Sydney cablegram of yesterday that in consequence of the abundance of money and the slackness of demand, rhe Bank of New South Wales, the liank of Australia and the Union of Australia have reduced the rate of interest on fixed deposits for twelve months to "2£ per cent, and for those at six months 1 per cent. As a matter of necessity the other Banks doing business in this colony must follow this example, and the Government Post (Juice Savings Bank will be compelled to " bring up the rear." This state of the money market would tend in some degree to encourage enterprise, bat for the lack of confidence capitalists, whether great or small, have in " our rulers and governors " who have destroyed .confidence by their reckless finance.
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Bibliographic details
Feilding Star, Volume XVIII, Issue 55, 2 September 1896, Page 2
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134CHEAP MONEY. Feilding Star, Volume XVIII, Issue 55, 2 September 1896, Page 2
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