THE FINANCIAL POSITION

Dominion, Volume 8, Issue 2335, 17 December 1914, Page 6

THE FINANCIAL POSITION

STATEMENT BY HON. JAS. ALEBN. '(By Telegraph—Press Association.) Auckland, December 16. The attention of tho Minister of Finance was directed to-day to a recent statement by tile New South Wales Agent-General suggesting thatnext year it will be a matter of practical impossibilitv for the Government to raise loans for Public Works purposes, whilst even the probability of their being able to raise it for the purposes of meeting matured loans will be extremely remote. Mr. Allen did not comment on tho affairs of the Australian State, but gave some information in respect to New Zealand. "We have the £2,000,000 "war loan," he declared, ■ '-'and £3,250,000 is required to pay off the balance of Sir Joseph 'Ward's loan. Those amounte have been raised by the Mother Country in her war loan, and we pay just the same rate of interest as Britaiii, which is very cheap indeed. In addition to that New Zealand has had money of-, fered to her from London within the last ten days.. I'cannotsay,how much it is, nor the rate of interest—that is not definitely fixed yet. Wβ are in an absolutely different position-.. to .New South Wales, and we can get money if, we want it. But apart altogether from that wehave enough , money to carry on public works until the end of March next, without going on the London market at all." " . ,