WHO OWNS NEW ZEALAND ?
The Freeman's Journal puts forth this conundrum, and then answers it,: — " Mainly the banking corporations and the financial companies on the other side of the globe: The public creditor owns our railways, lighthouses, and public 'buildings, having a lien, moreover, on our earnings ; while the private creditor owns and can sell, if he likes, the greater portion of our lands and our stock. Commercially speaking, the foreign creditors' claims are just. The railways are his because he found the money to make them — so are the docks, the telegraph lines, and the public buildings ; and so even are the greater part of our roads, as they are now being made through private lands at the public expesne. The land is his, and the stock, most of both, for the bulk of both are mortgaged'up to the hilt, so deeply m fact that' the apparent owners cannot pay the interest as it falls due, while the mortgagees dare not, m many cases, sell, because the advances they have made are larger than the slims the estates would realize if sold."
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Bibliographic details
Manawatu Standard, Volume X, Issue 1561, 20 November 1885, Page 2
Word Count
183WHO OWNS NEW ZEALAND ? Manawatu Standard, Volume X, Issue 1561, 20 November 1885, Page 2
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