THOUGHTS FOR THE TIMES.
Future Financial Possibilities. It shonld not. he forgotten that the financial weaknesses which New Zealand developed during the period of prosperity and subsequent crisis have been very largely covered up, and still lie under the surface. The moratorium on mortgages and on deposits undoubtedly saved the country from what might easily have been a very severe financial crisis. The effect ot this action of the Government, which subsequent events have proved to have been well timed, is apt to be forgotten. and it is also frequently overlooked that the danger will not yet he passed unless the country is gradually and almost imperceptibly brought out of this moratorium, and so saved front a financial crisis which was almost certain when the moratorium was introduced. and is still possible on a smaller scale.
—British Trade Coinmis-ioner’s Re port.
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Hokitika Guardian, 21 February 1923, Page 2
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141THOUGHTS FOR THE TIMES. Hokitika Guardian, 21 February 1923, Page 2
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