RISE IN BANK RATES.
The advice received in that tho Bank of 'England proposes raising the bank rate of interest to •"> per cent, will not come as a surprise, in view of the crisis in Europe and other elements that are at work. The tightness of money will prove a serious matter for the Overseas Dominions. It will mean that the borrowing operations of the different Governments will l>e restricted, and we shall have to live within ourselves as far as possible.. Only urgent public [ works will be undertaken, and much I labour may lie thrown out of employment. It is fortunate that the financial crisis lias come at a period when there are numerous private avenues I for the employment of labour.
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Wairarapa Age, Volume XXXI, Issue 10710, 14 October 1912, Page 4
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123RISE IN BANK RATES. Wairarapa Age, Volume XXXI, Issue 10710, 14 October 1912, Page 4
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