WALL STREET DISTURBS THE WORLD.
“Thanks largely to the exigencies of the war, America stands possessed of the largest financial resources • in the world, hacked by the liiggesf accumulation of igold. When that position before the war was reversed and London was the world’s . centre wo were at all times ready to finance the world’s necessities., ~|Yr ,thg .nasi, eighteen months, however, instead of adopting this role of the world’s banker, the people of America have been gambling in Wall Street to an extent which has atraetod capital from, other centres, both by way of participations in the gambling movement and by way of loans at high interest rates to finance the rise in stocks. America, in short, has been drawing upon the surplus capital of other centres and probably upon this country in particular, while matters have not been helped by her high tariffs preventing her debtors from effecting settlements in goods and services.”—“Morning Post.”
Permanent link to this item
Hononga pūmau ki tēnei tūemi
https://paperspast.natlib.govt.nz/newspapers/HOG19291114.2.24.3
Bibliographic details
Ngā taipitopito pukapuka
Hokitika Guardian, 14 November 1929, Page 3
Word count
Tapeke kupu
156WALL STREET DISTURBS THE WORLD. Hokitika Guardian, 14 November 1929, Page 3
Using this item
Te whakamahi i tēnei tūemi
The Greymouth Evening Star Co Ltd is the copyright owner for the Hokitika Guardian. 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 the Greymouth Evening Star Co Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in