THE MONETARY SITUATION.
What is the barrier that is keeping money out of New Zealand? asks the Christchurch "Press." We have no hesitation in saying that it is first the competition of the Government Advances to Settlers Department, and secondly, distrust of our legislation, especially the determined attacks delivered against the landed interests. Sir Joseph Ward's remedy for the difficulty—and in this he is apparently backed up by Mr Beauchamp—is to advance more money through the Government Department to take the place of the private money that is being either kept out l or driven out of the Dominion. Of course, the more the Advances to Settlers Department is expanded, the more it will tend to keep away the private investor. Can the Govern--1 ment safely shoulder the responsibility of supplying all the money required from outside for advances upon mortgage in the Dominion? We do not think they can, and if we are right, the proposed remedy will j simply aggravate the disease.
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https://paperspast.natlib.govt.nz/newspapers/WAG19090512.2.8.2
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Wairarapa Age, Volume XXXII, Issue 3187, 12 May 1909, Page 4
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164THE MONETARY SITUATION. Wairarapa Age, Volume XXXII, Issue 3187, 12 May 1909, Page 4
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