DOMINION FINANCE.

Manawatu Herald, Volume XLIII, Issue 2307, 26 July 1921, Page 2

DOMINION FINANCE.

MR. MASSEY’S COMMENTS,

Brief reference to New Zealand finance was made by the Prime Minister at a dinner in London given by the Australian and New Zealand Club, states the official correspondent with the party.

Inquiries were often made, said Mr Massey, as to how the Dominion stood financially. His reply was that New Zealand was as prosperous as any other country in the Empire, and probably more so. (Applause.) He spoke of what had been done in regard to the repatriation of soldiers, and said that the ndieations were that a very large proportion of the men would lie successful in their business and fanning ventures. (Applause.) It. was true that sheep farmers bad suffered very severely in the Dominion, owing to the drop in the price •if wool, but he had that day received a telegram from New Zealand which indicated that already there was a recovery of the market; and lie believed it meant that so far as

prices were concerned they were round the corner. (Applause.) At Die end of the financial year the Dominion’s surplus, according to information cabled to him, had pro \ed to be in excess of six millions sterling—(loud applause) —which was verv -considerable, lie bad no

hesitation in saying, for a country if the size and population of New Zealand. (Applause). He explained how the surplus had largely come about —owing to the extensive mportations during the year just ended —and said that he knew perfectly well Dial it* would not be maintained Ibis year, and that Die revenue must accordingly be less; but with the J 920 carry-over, the pibstantial reserve in hand, and with economies which already had been effected, lie did not anticipate any difficulty in making ends meet at the conclusion of Ibo financial year, and, perhaps, they might even be able lo effect some reduction ill fixation. (Applause).