THE BIRKBECK BANK.
STATEMENT BY MR. LLOYDGEORGE. i By Cable—Press Association—Copyright London, June 15. Mr. Lloyd-George, in the House of Commons, said that the Board of Trade informed him that the Birkbeck Bank failure was due to the depreciation of values of securities held. Newspaper statements that the failure was in any way attributable to the Liberal Government's Finance policy were both mendacious and mean.
Mr. Lloyd-George quoted the statement of the accountants of the Birkbeck Band, showing that the greatest fall in the value of investments occurred at the time of the Boer War, when the reserve was ample to cover every bit of scrip. The depreciation was due more to the extension of the trustee investments to colonial securities.
Mr. Lloyd-George concluded by stating that the Birkbeck holdings showed a greater depreciation from the eve of the Boer War to the end of the Unionist Government than since 1000. The allegation that the failure was due to something occurring since 1000 was an unqualified falsehood.
Permanent link to this item
Hononga pūmau ki tēnei tūemi
https://paperspast.natlib.govt.nz/newspapers/TDN19110617.2.26
Bibliographic details
Ngā taipitopito pukapuka
Taranaki Daily News, Volume LIII, Issue 330, 17 June 1911, Page 5
Word count
Tapeke kupu
167THE BIRKBECK BANK. Taranaki Daily News, Volume LIII, Issue 330, 17 June 1911, Page 5
Using this item
Te whakamahi i tēnei tūemi
Stuff Ltd is the copyright owner for the Taranaki Daily News. 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