A NEW COLONIAL LOAN.
[By Telegraph J Wellington, April 25. In an apparently semi-official article, the “ Chronicle ” to-night says : —lt is evident that if the tims has not already arrived, it will som come to be opportune to pi vce another loan on the market. By virtue cf the verbal assurances given by th j loan agents to the Bank of England, the colony is prevented from arranging another loan before September next, and we should say that one of tLe first proposals to be made by the Government next session will be a fresh loan, the amount of which is not likely to be leas than four millions. It is now plainly demonstrated that the Opposition in 1877 in reducing the loan from four millions to two and a half millions seriously injured the colony. A nothor million and a half now at the disposal of the Minister of Public Works would have given the colony a lift over the temporary period of commercial depression by relieving the pressure on the Bank reserves, while it would have strengthened its position with the Bank of England and the English market by extending the interval of our demands —an important consideration with the financial firms on whom so much of the success of every loan depends.
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Bibliographic details
Globe, Volume XX, Issue 1617, 26 April 1879, Page 3
Word Count
215A NEW COLONIAL LOAN. Globe, Volume XX, Issue 1617, 26 April 1879, Page 3
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