DOMINION'S LOANS
("Post" Special Commissioner).
the interest ra+e MR. FORBES ADMITS MAY BE LESS THAN FEDERAL RATE QUESTION IN THE HOUSE
Wellington, Thursday. ^ In the House of- Representatives to-day, I-Ion. A. D. McLeod (Government, Wairarapa) , asked-.the , Pr.ime Minister (Rt. Hon. • G. W; Forbes) if it was correet, as had- been reported by the press cablegrams, that the Ausi tralian hanks were arranging. to lend the Commonwealth £8*, 000, 000; at 31 per cent. and if ^ the New- Zealand* Government - was- borrowing money at 5 per cent. over a period corresponding to the Australian loarip; also if the money --borrowed -hy- *1)he New Zealand Government- - was for any special purpose- and- if the rate of exchange had any • eff ect on -the rate of interesL - ■ . » ^ vt„> The Prime Minister said that the Government had no further 4nfor-m-ation than had appeared- in the* press cablegrams. The New Zealand" Government was borrowing .at- -present in New Zealand at 5 per eent. -with currency to September 1, 1937. Currency was heing altered to-'Junej!15, 1940, as from the 7th instant.> -The proceeds of these issues were for the redemption of inaturing loans.-- It was not eonsidered that the- exchange rate had anything to do with the rate of interest. . .. ..... . ,
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Bibliographic details
Rotorua Morning Post, Volume 2, Issue 371, 4 November 1932, Page 5
Word Count
204DOMINION'S LOANS Rotorua Morning Post, Volume 2, Issue 371, 4 November 1932, Page 5
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