THE BRITISH CONSOLS.
A Wellington morning paper sees in the marked advance in British Consols, announced in a recent cable message, an improvement iri the European political situation. The opinion expressed is certainly plausible, but there is reason to doubt its correctness. When the Boer War was in progress, and at a time when the European situation was electrical in character, British Consols reached the highest point ever recorded in i-heir history, and the Consols were established as far back as the days of William and Mary; in fact, William 111. was the originator of the idea of a true national debt. When British Consols are high, whatever else it may imply, it means this that people with money to invest are either withdrawing or witholding it from trade concerns, and industrial institutions. High Consols neither spell peace nor prosperity. Consols are usually high when trade is depressed.
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Wairarapa Age, Volume XXXII, Issue 3115, 15 February 1909, Page 4
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148THE BRITISH CONSOLS. Wairarapa Age, Volume XXXII, Issue 3115, 15 February 1909, Page 4
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