N.Z. FINANCE
(Press Assn.-
proposed reserve bank viewed favourably in london GOUNTRY'S CREDIT HIGH
-By Telegraph — Copyright).
Rec. Sept. 21, 5.5 p.m. London, Sept. 20. The Times, in an editorial, says: "Nothing could he further frorn the truth than the suggestion that the New Zealand Reserve Bank Bill is partly inspired by the desire of the British monetary authorities to dictate to New Zealand in its monetary policy. On the contrary, the creation of a reserve bank is everywhere recognised as a symbol of financial maturity and the surest guarantee of independence. "It has the advantage of centralising a country's cash resources and i endering them more easily available in timo of need. Meanwhile it is satisfactory to note that New Zealand finances show definite signs of recovery. "Negotiations for the conversion of £5,000,000 are now proceeding and there need be no fear that New Zealand will be robbed of the fruits of her cautious and responsible policy for so many years. New Zealand's credit stands deservedly high in London, and it would be a pity for an acute oontroversy over the Reserve Bank to inipair the Dominion's financial reputation."
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Rotorua Morning Post, Volume 3, Issue 643, 22 September 1933, Page 5
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190N.Z. FINANCE Rotorua Morning Post, Volume 3, Issue 643, 22 September 1933, Page 5
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