SPEECH BY THE PREMIER.

Manawatu Herald, Volume XXVII, Issue 3726, 1 December 1906, Page 3

SPEECH BY THE PREMIER.

iNVEHCABGXLL, NoV. 30,

Sir Joseph Ward opened the Otautau Post Office this afternoon. In tho evening he was tendered a public reception by citizens of Invercargill in the Municipal Theatre, when he was presented with an illuminated address. In tho course of his speech, Sir Joseph Ward said that since April Ist £2,000,000 Government debentures had fallen due, and the whole had been renewed on very satisfactory terms. There was £750,000 due on Saturday, and the greater portion had already been renewed. Holders outside of New Zealand were paying a premium of 2 per cent, for right of renewal. Regarding the million loan authorised this year, £900,000 had been subscribed, and the other £IOO,OOO, which the Government could have got outside the colony if it wished, was being taken up by tho over-counter sales at 4 per cent at par, with a currency of five years. The total amount involved was £3,750,000 of which £3,650,000 had been arranged for without any publicity or fuss. As Colonial Treasurer he felt particularly happy, and tho colony should be well satisfied. Sir Joseph also said that the “ colour line ” would have to be discussed at tho Colonial Conference in regard to the necessity of keeping tho colony clearof the “ Yellow Peril,”