DOMINATED BY BUDGET
STOCK MARKETS QUIET ‘ 'GRIM DETER DONATION” (Reed. Sept. 30, 2 p.m.) LONDON, Sept. 29. After the initial shock, the City has accepted with grim determination the Chancellor’s dual-purpose Budget, framed with a view to meeting wartime expenditure as far as possible from current revenue and restricting non-Government spending. Financial circles are staggered by the severity of the proposals. They consider that a reliance so extensively on taxation will give time for war expenditure to swell the national savings, thus reducing the risk of inflation to a scale characterising the last war. . The stock markets are dominated by the Budget, and with dealings on a strictly cash basis there is little business passing. The commodity markets have not yet settled down to war conditions, and trading remains difficult. There have been no major price changes.
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Gisborne Herald, Volume LXVI, Issue 20057, 2 October 1939, Page 11
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137DOMINATED BY BUDGET Gisborne Herald, Volume LXVI, Issue 20057, 2 October 1939, Page 11
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