LOAN FROM AMERICA
SUGGESTION EXAMINED. Per Press Association. WELLINGTON, April 25. The advantages and disadvantages of New Zealand raising a loan in the United States were analysed by the Minister of Customs (Hon. W. Nash) in his reply to a-deputation of importing interests which waited on him on Wednesday. The Minister said he had received a letter suggesting that the Dominion should take steps to raise a loan in America. Air Nash said there was something to be said for the suggestions. “We can borrow from the United States, but Britain can’t,” he said. “We are not affected by tho Johnson Act, because we never failed in connection with the war loan to the United States after the last war. To the extent that we did borrow, Britain would he able to buy move from the United States. But if we did we would still be adding to our overseas debt, and that is. big enough at present. “'The Government is not keen to add to our burden of debt overseas. We will add to it to the extent of the £20,000,000 due to the war. If we did try to pay for that the effort so far as imports are concerned might create even greater hardship.”
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Bibliographic details
Manawatu Standard, Volume LX, Issue 126, 27 April 1940, Page 10
Word Count
207LOAN FROM AMERICA Manawatu Standard, Volume LX, Issue 126, 27 April 1940, Page 10
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