NO SPECULATIVE MANIA
POWER OF BANKS. AGAINST SPECULATION Warning By Chairman Of Midland Bank. Press Association—Cggwright. (ReceivecP Noon). London, January 26. Sir Stephen McKenna, when pressing at the annual meeting of the Midland Bank, uttered a warning against excessive speculation. There were at present no signs of the speculative mania developing in Britain, and for this reason the Banks should use the opportunity to prevent the possibility. They had the power to restrict credit to the uses of legitimate trade and to refuse easy money to speculators. The general recovery in business had not yet ended, though last year’s rate of expansion might not be maintained. There were 110 signs of the expansion leading to money. The' - B&nks had a wide margin of resources available for advance should greater demands be made on them. The future could be viewed" with confidence for world trade to recover further if peace were maintained.
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Taranaki Central Press, Volume IV, Issue 344, 27 January 1937, Page 5
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151NO SPECULATIVE MANIA Taranaki Central Press, Volume IV, Issue 344, 27 January 1937, Page 5
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