THE BANK RATE.
JUSTIFYING THE INCREASE. OPINION OF A MANAGED. Per Press Association. CHRISTCHURCH, May 23. In a speech at a public function on Saturday Mr J. Mac Gibbon, the Christchurch manager of the Bank of New Zealand, said that there were hundreds of amateur financiers in New Zealand who thought that they could run the banks a long way better than the directors could. The' would-be critics complained that the banks had enormous reserves, but what would have happened in 1921 if New Zealand banks bad not been as strong as they were : If the banks increased the rate by liah per cent, it was absolutely necessary to do so. The main reason was that the deposits' had fallen off largely. For years the banks bad had to use the deposits and if the deposits shrank, the money the banks had to lend naturally shrank.
Permanent link to this item
Hononga pūmau ki tēnei tūemi
https://paperspast.natlib.govt.nz/newspapers/MH19270524.2.31
Bibliographic details
Ngā taipitopito pukapuka
Manawatu Herald, Volume XLVIII, Issue 3642, 24 May 1927, Page 4
Word count
Tapeke kupu
146THE BANK RATE. Manawatu Herald, Volume XLVIII, Issue 3642, 24 May 1927, Page 4
Using this item
Te whakamahi i tēnei tūemi
Stuff Ltd is the copyright owner for the Manawatu Herald. 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 Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in