Thoughts For The Times
One Big Loan
The Government’s proposal, under the new Local Bodies Finance Bill, to request local bodies to wipe off theii overdrafts was discussed by the Manukau County Council at their monthly meeting recently, when it was pointed out that if the Bill were given effect to the result would be that local bodies throughout the Dominion would all be endeavouring to raise loans for that purpose. With the competition in the money market that must naturally follow, the rate of interest would be sure to increase. With a view to avoiding so disastrous a position, the council resolved to urge the Government to raise rno big loan outside the country on behalf of all the local bodies in tho Dominion.
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https://paperspast.natlib.govt.nz/newspapers/HOG19220118.2.15
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Hokitika Guardian, 18 January 1922, Page 2
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125Thoughts For The Times Hokitika Guardian, 18 January 1922, Page 2
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