REARMAMENT LOAN
—Press Assn.-
Well Within Capacity of Nation ECONOMIST'S VIEW
(By Telegraph
-Copyright.)
(Received 26, 11.5 a.m.) LONDON, Feb. 25. Professor J. M. Keynes, presiding at the National Mutual Assurance arnual meeting, emphasised that the rearmament loan was well within Ihe nation's capacity. There was no reason why it should pay more than three per cent. He pointed out that it was a popuiar error to suppose that money was now exceptionally cheap, On ihe contrary, there was not a single five-year period between 1837 and 1914 when tbe average yield on long-term gilt-edged stocks was as high, yet our existing capital per head was 50 per cent. greater. The sums that industry was putting into reserve from profits should amount to over £400,000,000 in thq siugle year. >
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Bibliographic details
Hawke's Bay Herald-Tribune, Issue 36, 26 February 1937, Page 5
Word Count
129REARMAMENT LOAN Hawke's Bay Herald-Tribune, Issue 36, 26 February 1937, Page 5
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