VICTORIAN LAND BOOM.
THE STATIST WARNING ENGLISH INVESTORS. GRAVE CHARGES AGAINST PUBLIC MEN. THE IMPENDING COLLAPSE. London, Jan. 12. The Statist warns English investors against the land inflation in Victoria. It publishes a letter from a prominent man in Melbourne dating that in some of the companies formed for the purchase of land the vendors became provisional directors, and subsequently retired. Members of Parliament were involved in the racket, and new railways were authorised with a view to buying land to re-sell it at a profit. The letter charges the Government with utilising the knowledge of State secrets, and asserts that there is no one in Parliament to expose the transactions, as most of the members are in the swim.
A private letter received by the manager of a leading bank predicts that a crash will come owing to the banks having over-lent, and that a collapse worse than that of the Bank of New Zealand is impending.
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https://paperspast.natlib.govt.nz/newspapers/GSCCG18890115.2.19
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Gisborne Standard and Cook County Gazette, Volume II, Issue 247, 15 January 1889, Page 3
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158VICTORIAN LAND BOOM. Gisborne Standard and Cook County Gazette, Volume II, Issue 247, 15 January 1889, Page 3
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