THE REARMAMENT BOOM
"Th^ Government has laid down a programme for rearmament which is going to create a very considerable demand upon all materials which enter into capital construction. We are told that during the next two, three or four years no less than £100 millions a year will be spent by the Services in capital construction alone in connection with rearmament. That expenditure alters at once the whole conditions of the capital market. When you have a new competitor of that magnitude commanding the same material as you need for capital expenditure, the moment is wise to stay out of the market. Wait until the Government expenditure is over and, when reaotion comes, come into the market then and borrow — borrow cbeaply. Spend then and you can buy cheaply. That wpuld be my view of the capital market. It has been good in the past. It is not going to be good in the near future for the year or two to come. When that period is over it will be good again." — Mr Reginald McKenna, Midland Bank,
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/HBHETR19371229.2.23.2
Bibliographic details
Hawke's Bay Herald-Tribune, Volume 81, Issue 81, 29 December 1937, Page 6
Word Count
179THE REARMAMENT BOOM Hawke's Bay Herald-Tribune, Volume 81, Issue 81, 29 December 1937, Page 6
Using This Item
NZME is the copyright owner for the Hawke's Bay Herald-Tribune. 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 NZME. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in