INTEREST RATES.
GOVERNMENT’S ACTION CRITICISED. At yesterday’s meeting of the Manawatu County Council, a discussion arose regarding rates of interest, Cr. N. Morcom stating that the 5 per cent, offered by the Government for money was too high in view of the fact that a large section of the community was clamouring for a reduction in fixed interest charges. The council carried the following resolution unanimously, oil the motion of Grs. Morcom and J. H. Perrett:
“That in view of the present economic position in New Zealand and the urgent necessity for a reduction in all costs of which interest is the main factor, this council is of the opinion that the action of the Government in offering 5 per cent, on Government loans is not in the best interests of the country as a whole.”
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https://paperspast.natlib.govt.nz/newspapers/MS19321214.2.75
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Manawatu Standard, Volume LIII, Issue 14, 14 December 1932, Page 8
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136INTEREST RATES. Manawatu Standard, Volume LIII, Issue 14, 14 December 1932, Page 8
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