PLENTY OF MONEY

Dominion, Volume 8, Issue 2441, 21 April 1915, Page 8

PLENTY OF MONEY

ASSURANCE FROM PRIME MINISTER. "We are having no difficulty in finding all the money we require," said the Prime Minister yesterday in answering a question by a reporter. "It would not be possible for us to raise a large loan for public works purposes in London at present except at very high rates but I have, reason to believe that if we required a comparatively small loan for public works we could get it in England. However, we do not anticipate any difficulty in finding sufficient money to carry on pub he works at the same rate at which they have been carried on for some time past, that is to say, for the last year or two The returns from the Post Office' Savings Bank are particularly good; the balance in favour of deposits for the first three months of the present yeai were nearly three-quarters of a million. I .don't think anything of the sort has ever happened before in the history of New Zealand. _ "I do not think it would bo wise for us to raise any loans locally if we can avoid doing so. It would interfere too much with tho local market. Apart from moneys borrowed from the Post Office it is better for us to <iet our money in England if it is possible for us to do it. The increasod value of our exports is a very important factor in keeping the prosperity of the country up to a high standard, and at tha same time of keeping money rcasonablv cheap. At present I understand that the ruling rate for first mortgages on good security is 5j per cent. Moiiay in rbrnpoi* now than it was even jsls mouths a£o."-