CREDIT EXPANSION
POSITION IN BRITAIN HEAVY TREASURY BORROWING FROM BANKS." SOME FEARS OF INFLATION. (By Telegraph—Press Association—Copyright) (Received This Day. 12.30 p.m.) LONDON, May 16. The Treasury's increased resort to borrowing from the banks caused clearing banks deposits to rise to a new all-time high level of 2,828,500,000 last month. Financial experts say the expansion of bank deposits is not necessarily a proof of inflation, but they regard the rapidly rising trend uneasily, especially in view of the continued increase in note circulation. Sir Kingsley Wood strongly refutes the suggestion that an increase in the fiduciary issue involves a danger of credit expansion at present. Some money market authorities urge that the fiduciary issue should be further increased and advocate a system staggering wage payments as a means of obviating the necessity for issuing new note,s.
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Wairarapa Times-Age, 17 May 1941, Page 6
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136CREDIT EXPANSION Wairarapa Times-Age, 17 May 1941, Page 6
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