THE MONEY MARKET
MR. HAROLD BEATJCHAMP'S VIEWS. By Telegraph—Press Association. Auckland, Saturday. Discussing the financial situation with a pressman, Mr. Harold Beauchaomp, formerly chairman of directors of the Bank of New Zealand, expressed the opinion that the heavy demand for money is exercising a hardening effect on money, for which reason he thought the present time would be inopportune for attempting to Taise large loans either on the part of the Government or the municipalitits. The restrictive policy being pursued by banks and lending institutions in Australia is also havng the effect of advancing the rate of interest over there, the reflex of which shows itself in New Zealand as a matter of course. In fact, it would not be surprising to him to see interest on firstclass mortgages touch 5% per cent, hefore very long.
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Taranaki Daily News, Volume LIV, Issue 271, 13 May 1912, Page 5
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136THE MONEY MARKET Taranaki Daily News, Volume LIV, Issue 271, 13 May 1912, Page 5
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