THE MONEY MARKET.

Stratford Evening Post, Volume XXV, Issue 300, 17 December 1914, Page 2

THE MONEY MARKET.

SOUND FINANCIAL POSITION.

Per Press (Association,

Auckland, December 16

The attention of the Minister for Finance was directed to-day to a recent statement by the New South Wales Agent-General, suggesting that next year it will bb a matter of practical impossibility for the Government to raise loans for public works purposes, whilst even the probability of their being able to raise it for the purposes of meeting matured loans will be extremely remote. Mr Allen did not comment on the affairs of the Australian State, but gave some information in respect to New Zealand. “We have a £2,000,000 war loan,” lie declared, “and £3,250,000 required to pay off the balance of Sir Joseph Ward’s loan. Those amounts have been raised by the Mother Country in her war loan, and we pay justi the same rate of interest as Britain, which is very cheap indeed. In addition to that, New Zealand has had money offered to her from London within the last ten days. I cannot say how much it is, nor the rate of interest that is definitely fixed yet. We are in an absolutely different position to New South Wales, and we can get money if we want it. But, apart altogether from that, we have enough money to carry on public works until the end of March next without going on the London market at all.”