A PROTEST
INVOLUNTARY CONVERSION
BUSINESS MEN'S VIEWS' .-!
A resolution adverse to the method followed by the Government in its conversion undertaking was caTried at a meeting yesterday of the executive of the Associated Chambers of Commerce.
The president, Mr, A. S. Burgess, said the association, had long realised how essential it was for a reduction in interest rates to be brought about, including rates of interest on Government stock. The association* had suggested to the Government that it undertake a conversion of the internal Government debt, but making it plain that the conversion should be on a purely voluntary basis. With regard to the method actually adopted by the Government, the association viewed with deep regret the . course taken.
The following resolution was carried: "This association, which last year advocated a voluntary conversion of the Government's internal debt, and which still adheres to the principle, records its deep disappointment at the fact that the public of New Zealand has been denied the opportunity of patriotic participation in a really voluntary scheme, since the penalty provisions in the present scheme remove it from that category."
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https://paperspast.natlib.govt.nz/newspapers/EP19330325.2.84.2
Bibliographic details
Evening Post, Volume CXV, Issue 71, 25 March 1933, Page 14
Word Count
184A PROTEST Evening Post, Volume CXV, Issue 71, 25 March 1933, Page 14
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