Mr. Nash To Raise Now Internal Loan
PreSs Assoeiation)
(Per
WELLINGTON, April 18. A new internal loan the procfe'feds dt whieh will be used for national develop ment workS' and to repay existing loanfe, is to be opened for g'tlblic subscriptio'i on Wednesday. Long term and shor: tferm isfeues will be available. The Minister o.f .Finance, Mr. Nash, stated this evening that the long term issue would bear interest at 3 per cenf. and would mature ^n May 15, 19fi4-(ifi The short term issue carried interest ;it 2 per eent. with currency to May 15, 1955-56. Death duty stofek,. wcuild be. available in both issufeA The new loan would pr'ovide afi aventie for the invesiment of surplus feap'ital in giiti edged seeurities. The Minister stresse J the iihportance of savings and stated thslt pu'biife subscription . to Govern ment loans exereised an anti-inflatiofi 'ary ififlUferfcfe Oii the national economy.
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Chronicle (Levin), 19 April 1949, Page 5
Word Count
148Mr. Nash To Raise Now Internal Loan Chronicle (Levin), 19 April 1949, Page 5
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