CANADA'S WELCOMED

Rotorua Morning Post, Volume 2, Issue 598, 1 August 1933, Page 5

CANADA'S WELCOMED

(Press Assn.-

LIFTING OF THE EMBARGO A SIGN OF EMPIRE SOLIDARITY

PRESS COMMENT FAVClURABLE

-By Telegraph— Cop7'rIglit;

Lotidori, July 31. Tre Times City editor says: "For the first time in 25 years, Canada is issuing a loan in London. It will be for £15,Q00,000 at 4 per cent. It will be offered at jjar and will be payable over a term of 20 tb 25 years. . "This is the first evid'erice that the Empire declaration wili maintain stdhility of Empire exchangbs as it will increasse the Canadian exchange. resources." The Daily Mail, commenting upon the Australian and Canadian loans, says: "Sound Dominion securities are keenly sought after. Lifting the embargo on overseas lending has been the happy result of the Empire agreement .The Dominions hhve been giveh the privileged position .which they ought to enjoy and another step.has been taken to consolidate the Empire. Too much British money in the past, has gone t? foreigners who haVe heavily taxed British trade and who have mostly defaulted." , The Daiiy Telegraph says: "The Canadian return to the London market after 25 years, foliowing ldst week's declaration of financial unity By the Empire delegates, must Jb.e regarded as a gesture of Empire solidarity. At the same time it is a Whrning to the United States that her currency poiicy may have. robbed her of her last hope of rivaliing1 Britain qs an interhational financial centffe. The response to the loan cannot be doiibted. It is an event of Imperial and international significance. following last week's declaration dealing with Imperial sOlidarity in monetary matters." The Telegraph forecasts that the city wiii welcome the isshe. and find the terms attractive. The press unattinioiiSly weleomes the lohii