ORGANISATION OF FINANCE

Dominion, Volume 20, Issue 65, 10 December 1926, Page 10

ORGANISATION OF FINANCE

AND LOAN-RAISING MACHINERY FINANCIAL EXPERTS TOUR MAIN OBJECTS EXPLAINED The main objects of the visit the secretary of the Treasury (Mr. R. E. Hayes) proposed to pay to Loudon were outlined by the acting-Primc .Minister (Hou. W. Dowuie Stewart) yesterday. “I desire to correct the general tenor of the statement published as to the objects of the secretary to the Treasury’s visit to London,” said the Minister. From the statement, as published, it might appear that one of the main objects of the visit is to make further inquiries into the system of rural credits. This is incorrect. The main object of Mr. Hayes’s visit is concerned with general questions of the organisation of finance as between the High Commissioner’s office and New Zealand, and also as to the machinery in connection, with the raising of Joans There arc also certain other important questions affecting the Treasury of a technical nature which will be reported on by Mr. Hayes.

“So far as rural advances are concerned, the Government has already obtained all the information required on this question through the Royal Commission which reported this year, and the details of its inauguration are alreadv well in hand. The Treasury is only concerned with certain administrative details as to the working of the Act of last session, and I desire to correct the impression that the Government’s investigations in this matter are not yet completed.”