South Canterbury Times, SATURDAY, FEBRUARY 25, 1893.
Someone has been writing to the Christchurch papers, over the initials 44 H. J.C.” urging that the Government should issue State notes for the purchase of the Cheviot estate, aud for the construction of a railway, roads, aud whatever other works may be necessary for the opening up of the estate. He asserts that the notes could not become depreciated while the property was pledged as security, and in time the whole of them would be redeemed by the rents from the block. This scheme would answer if several “ ifs ’’ could be disposed of. If the people would accept them as currency, which would depend upon how the Bankis treated them. If the Banka would accept them, which It would not pay them to do. If the pouring out of State notes would not derange local markets for commodities and labour ; which it in all probability would. If the notes represented readily convertible wealth ; which they would not do. No doubt there are many more “ if® ” in the way, but these appear to be enough.
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South Canterbury Times, Issue 7078, 25 February 1893, Page 2
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182South Canterbury Times, SATURDAY, FEBRUARY 25, 1893. South Canterbury Times, Issue 7078, 25 February 1893, Page 2
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