DOMINION'S FINANCIAL POSITION.

Manawatu Herald, Volume LI, Issue 4505, 16 September 1930, Page 4

DOMINION'S FINANCIAL POSITION.

CREDIT NEVER HIGHER

SI 1? OTTO XIE.MEYER'S VIEW. ‘From conversations he has had with Sir Olio Xiemeyer-and Professor Gregory, tlu> acting-Prime Minister, lion. E. A. Ransom, is convinced that the verdict of these eminent authorities on the Dominion’s financial position will be a favourable one. Speaking at the smoke concert hold by the Wellington Commercial Travellers and Warehousemen’s Associniion, on Saturday, Mr. Ransom said that at such a serious time in the history of the Dominion the Government, appreciated the fact iliai it could avail itself of the services of so important a financial authority as Sir Otto Xiemeyer and his associate, Professor Gregory. The Government did not regard the Dominion’s position as being in anything like Ihe same Al legory as that of Australia at the present time —not Iha I lie wished to depreciate what was being done in Australia —but Hie -Government, recognised the! Hie finances of the Dominion were on a perfectly -omul fooling.

“My conversations with these gentlemen have convinced me that they regard the matter in a similar light," Mr. Ransom said, “Dial the credit of the Dominion has never stood higher in the British Empire or in the Old Country than it does to-dav. They realise that Ihis country will at all times recognise its full liabilities and ils obligations, and will meet them in a proper linaiicial way.” Mr. Ransom expressed the hope llull Sir Otto Xiemeyer would help ilie Government in the difficulty of high rates of exchange. Sir Otto would defer the preparation of his icporl until his return to England, he said, and legislation based on if won Id be submit ted to Parliament nexl session.