THE PREMIER.

Gisborne Times, Volume XXIV, Issue 1947, 1 December 1906, Page 2

THE PREMIER.

THE COLONY’S FINANCES. . Baasazai PRESS ASSOCIATION Invercargill, last night. Sir Joseph Ward opened tho Otautau Post Office this afternoon. In the evening ho was tendered a public reception by the citizens of Invercargill in tho. MunicipalTheatre, when he was presented with an illuminated, eulogistic address. Complimentary references were made to tho Premier by Messrs Hanan and Thomson, MHR’s, Hon. Feldwick, M-L.O-, Mr Scandrett, Mayor, and Chairman of the County Council and Bluff Harbor Board, In the course of a speech Sir Joseph. Ward said that siueo Ist of April Tz,000,000 Government "debentures had fallen due. The whole had been renewed on very satisfactory terms. There was .6750,01)0 duo on Saturday next, and the greater portion-had already been renewed. By Saturday ■it .would' all- be renewed, Holders outside of-' New Zealand were paying a premium of 2 ;per cent.--for the right of -renewal. Regarding the million loan authorised this year, .6900,000 has been -subscribed, and tho -.other 11100,000, which Government could .have got outside the colony if they wished, was being taken up by over-counter sales at. 4 per cent, at par with a currency .of'fiveyears. Tho total amount, involved -was ±■8,750,000, -of which £8,*50, 000 had'been arranged for without auy publicity or fuss.’ As Colonial Treasurer-he felt particularly happy, and'the" colony should-‘be- wellsatisfied.

Sir Joseph Ward also-said the-..colour line would havo to. be .discussed^at . the Colonial Conference ; in regard' to: the necessity of rkobping tho colony 'dear of. t hc yollow peril. •