The Stratford Evening Post WITH WHICH IS INCORPORATED THE EGMONT SETTLER. WEDNESDAY, DECEMBER 30, 1914. NEW ZEALAND’S PROSPECTS.

Stratford Evening Post, Volume XXV, Issue 309, 30 December 1914, Page 4

The Stratford Evening Post WITH WHICH IS INCORPORATED THE EGMONT SETTLER. WEDNESDAY, DECEMBER 30, 1914. NEW ZEALAND’S PROSPECTS.

In the course of an interview in the middle of November, the Hon.. Thos. Mackenzie, High Commissioner for New Zealand, told a representative of “The Financier” that he did not think New Zealand would suffer either financially or commercially by the war—at least, not to an extent that will affect her detrimentally. As the country .produces far more than her people require, there is necessarily a large surplus for export, and it so happens that the particular exports in which New Zealand excels are those most in demand in Britain at the present time, After discussing other matters, Mr Mackenzie said: “Our debt is sometimes referred to as being heavy, but that criticism arises, I think, from lack of I; nowledge regarding the purposes to which our borrowed money has been put. Our debt should be regarded rather as commercial investments. The total net indebtedness of our country is £91,000,000. Of. that amount £52,000,000 *is investor! in public works, £35,000,000 of which is invested in railways. £32,000.000 is invested in purchase of land, advances to settle s and workers and advances to local bodies, and return interest, in the majority of instances, above that which ■we pay to the English money-lender, so that, in addition to the great help which we give to onr people, the State earns a. profit. Many other items might also he referred to as profityielding. Then we have a sinking fund which will liquidate the entire debt after a certain period, so that we are paying off the whole f the debt, and having to the good ,tt'6 investments in which the money nas been placed.” The High Commissioner spoke on many '.other matters with the most cheery optimism regarding the future.