Thoughts For The Times
The Economic Problem
“During a long period of prosperity wo have indulged in a great deal of development and costly experiment. Jhe prosperity brought to us by the war has been exaggerated by a governmental borrowing policy into a well defined commercial and financial crisis. e stand to-day at the crest of the boom, faced by the certainty, (or a risk so o-reat that prudent men assume it as a certainty), that once the boom bursts prices will fall perhaps for ten, perhaps for twenty years. And there is further the lesson to be gained from our own history, where a similar boom at a similar period was staved off toi a few years by a borrowing policy that finally plunged New Zealand into liei worst period of depression.”—Professor of Economies at Canterbury College.
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https://paperspast.natlib.govt.nz/newspapers/HOG19200813.2.16
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Hokitika Guardian, 13 August 1920, Page 2
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138Thoughts For The Times Hokitika Guardian, 13 August 1920, Page 2
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