LOCAL BODIES' LOANS.
PLEA FOR HIGHER INTEREST PREMIER AGAINST AN INCREASE, (By Wire.—Parliamentary Reporter.) Wellington, Last Night, Dr. A. K. Newman (Wellington East) aaked in the House of Representatives to-day what the Government intended to do for local bodies that had found themselves unable To borrow money ftt 5% per cent, at par, the maximum rate permitted by the Government. He said that some of the local bodies found ( themselves in a difficult position, and it was important that members of th« House should know before the end of the session what the attitude of the Government was going to be. "The matter will be considered in 4 U « course," replied the Minister. "We must bring the business of the session to an end first. So far as lam able to judg* there is concerted action on this sub,\ct, and a great of pressure i» being brought to bear the Government to have the rate of interest hi* creased. So far as I am personally c*ii« cerned tho rate of interest will not to increased, unless we cannot help it. It we are satisfied that there is a scarcity of money and that money is being lent below its value that will be taken into consideration."
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Taranaki Daily News, 30 October 1920, Page 5
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206LOCAL BODIES' LOANS. Taranaki Daily News, 30 October 1920, Page 5
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