FINANCE FROM LONDON

Gisborne Herald, Volume LXVI, Issue 20000, 27 July 1939, Page 5

FINANCE FROM LONDON

LABOUR COMPLAINT INIMICAL TO DOMINION (Parliamentary Roporter.) WELLINGTON, this day. “The London financiers are attempting to impose upon this country terms which the Government believes to be inimical to the best interests of the people. 1 personally hope that the Government will say, ‘Rather than accept your terms we will take steps, however drastic they may be, to pay off the whole of the loan of £17,000,000.’ ”

This statement was .made in the House of Representatives by Mr. A. H. Nordmeyer (Lab., Oamaru) when referring to the leap negotiations being conducted in London by the Minister of Finance, the Hon. W. Nash. Mr. Nordmeyer said that if an emergency situation was created by British financiers attempting to embarrass the Government, New Zealand would be justified in mobilising her overseas funds in the same way as Britain itself did during the Great War.

There were many who sat on the other side of the fence politically who would agree that such a courageous step by the Government would be iin the best interests of the Dominion.

“I hope the Government will say no surrender as ini’ a s our principles are concerned,," added Mir. Nordmeyer. “Any attempt by London to dictate terms to New Zealand should be resented by the Government and the reply given that we are capable of minding our own affairs.”