OUR LOAN.
The "Sydney Morning Herald" commenting on ihe last New Zealand Loan, remarks that the confidence of British investors m the colonies has been subjected, m the case of New Zealand to a severe test. Borrowing to pay off a debt cannot always be regarded as a satisfactory way of reducing obligations, and the issue of Treasury Bills pending an engagement not to go upon the market for three years, is an indication of great monetary pressure and inconsistency. While the general outlook of the colony's financial affairs may not prevent the purchase of its securities the actual character of the finances must affect the price.
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https://paperspast.natlib.govt.nz/newspapers/AG18880710.2.19
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Ashburton Guardian, Volume VII, Issue 1889, 10 July 1888, Page 3
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107OUR LOAN. Ashburton Guardian, Volume VII, Issue 1889, 10 July 1888, Page 3
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