THE FINANCIAL STRINGENCY.
Mr Harold Beauehamp, Chairman of Directors of the Bank of New- Zealand, -has been interviewed by a newspaper reporter at Auckland. While admitting the stringency in the money market at the present time, he speaks hopefully of the future. He is of opinion that, with the high prices for produce and the prospects of the successful flotation of a, big loan by the Hon. James Allen, the tightness will shortly disappear. At the same time, he opines that_ local bodies will require to be less' extravagant in their demands in the future, and that land speculators will suffer a rebuff. This opinion will be shared by a large section of the community. There is lit tie doubt that the inflated values n" land have placed a severe strain upon financial institutions, and that the Treasury- coffers have been unduly exploited by local bodies. The present •stringency will effect a useful purjxvse if it impresses! -upon private individuals and public bodies* the importance of practising 'reasonable economv.
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Wairarapa Age, Volume XXXI, Issue 10713, 24 December 1912, Page 4
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169THE FINANCIAL STRINGENCY. Wairarapa Age, Volume XXXI, Issue 10713, 24 December 1912, Page 4
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