WARNING VOICES
BANKS DECLARED TOO FREE WITH INDUSTRY COMPLETE OVERHAUL NEEDED Reed. 9.5 a.m. LONDON, Monday. The “Morning Post’s” financial writer, commenting on Mr. J. H. Thomas’s speech upon the organisation of industry, emphasises that it would be dangerous if he creates the impression that the bankers should make freer advances to all commercial enterprises. “It is a fact,” he says, “that banking competition has tended, and is tending, to give too strong an urge in that direction. During the last decade, banking facilities have been too readily available to many industrial undertakings. “What is really required is a complete reorganisation before large credits are granted. Most frozen credits with which bankers have had to contend with in recent years have been connected with assistance given to staple industries.” The "Daily Herald” says a number of representative businessmen are to meet Mr. J. H. Thomas early in the week to discuss the scheme he outlined at Manchester. The next step of the leaders of industry will be to examine the possibilities of reorganisation anew and submit proposals.
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Bibliographic details
Sun (Auckland), Volume III, Issue 870, 14 January 1930, Page 9
Word Count
177WARNING VOICES Sun (Auckland), Volume III, Issue 870, 14 January 1930, Page 9
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