THE RATE OF INTEREST.
FINANCE .MINISTER'S WARNING 'AGAINST RAISING IT. In a reference at Wellington to the financial outlook, Si:- Joseph Ward said there was no earthly reason why the rate o£ interest should go up in this country. Anyone attempting to raise it unduly during the present war crisis would not he looked upon as a friend of either the country or the people. There was plenty of money in New Zealand, and the object of every well-wisher of the Dominion in a time when war was raging should he .to keep the general finance of the country, both public and private, steady. He had so far refused to give authority to local bodies to raise moneys at high rates of interest, and it ;vas in their interest as well as in that, of the people they served in their respective localities that rates should not be allowed to run up. The Government had the power under statute of last session to prevent an increase in rates of interest, and, though he was averse to exercising powers of the kind, if there were any attempt to force up the value of money at such a time as this, then it would be a question for serious consideration as to whether the power should not out into oparatiott. " '■> '• .•■■■"-''»■*• .* j i
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Taranaki Daily News, 20 January 1916, Page 5
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220THE RATE OF INTEREST. Taranaki Daily News, 20 January 1916, Page 5
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